Quartz Partners LLC Makes New $712,000 Investment in NRG Energy, Inc. (NYSE:NRG)

Quartz Partners LLC bought a new stake in NRG Energy, Inc. (NYSE:NRG) in the fourth quarter, HoldingsChannel reports. The fund bought 7,889 shares of the utilities provider’s stock, valued at approximately $712,000.

Several other hedge funds have also modified their holdings of the stock. Private Advisor Group LLC raised its stake in shares of NRG Energy by 27.3% during the third quarter. Private Advisor Group LLC now owns 5,863 shares of the utilities provider’s stock valued at $534,000 after purchasing an additional 1,256 shares during the period. International Assets Investment Management LLC increased its stake in NRG Energy by 27,231.5% during the 3rd quarter. International Assets Investment Management LLC now owns 146,770 shares of the utilities provider’s stock worth $13,371,000 after buying an additional 146,233 shares during the period. Mount Yale Investment Advisors LLC boosted its position in NRG Energy by 77.7% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 6,405 shares of the utilities provider’s stock valued at $584,000 after buying an additional 2,800 shares during the last quarter. PFG Investments LLC grew its stake in shares of NRG Energy by 18.8% during the third quarter. PFG Investments LLC now owns 8,228 shares of the utilities provider’s stock valued at $750,000 after acquiring an additional 1,304 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of NRG Energy by 5.7% in the third quarter. State of Alaska Department of Revenue now owns 23,978 shares of the utilities provider’s stock worth $2,184,000 after acquiring an additional 1,300 shares in the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NRG Energy news, CFO Bruce Chung sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $97.63, for a total value of $1,952,600.00. Following the sale, the chief financial officer now owns 69,454 shares in the company, valued at approximately $6,780,794.02. This trade represents a 22.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert J. Gaudette sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $91.41, for a total value of $5,484,600.00. Following the transaction, the vice president now owns 64,448 shares of the company’s stock, valued at approximately $5,891,191.68. This represents a 48.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.

NRG Energy Price Performance

Shares of NYSE:NRG opened at $105.96 on Monday. The company has a market cap of $21.46 billion, a PE ratio of 26.62, a P/E/G ratio of 1.01 and a beta of 1.15. NRG Energy, Inc. has a fifty-two week low of $51.49 and a fifty-two week high of $115.38. The firm has a 50-day simple moving average of $100.59 and a 200 day simple moving average of $92.90. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57.

NRG Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a $0.44 dividend. This is an increase from NRG Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Monday, February 3rd. This represents a $1.76 annualized dividend and a dividend yield of 1.66%. NRG Energy’s dividend payout ratio (DPR) is 44.22%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Evercore ISI upgraded NRG Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $74.00 to $126.00 in a research note on Tuesday, January 21st. Morgan Stanley lifted their price target on shares of NRG Energy from $86.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Citigroup increased their price objective on shares of NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their target price on shares of NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Jefferies Financial Group raised shares of NRG Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from $93.00 to $113.00 in a research report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $113.71.

NRG Energy Profile

NRG Energy, Inc, together with its subsidiaries, operates as an energy and home services company in the United States and Canada. It operates through Texas; East; West/Services/Other; Vivint Smart Home; and Corporate Activities segments. The company produces and sells electricity generated using coal, oil, solar, and battery storage; natural gas; and a cloud-based home platform, including hardware, software, sales, installation, customer service, technical support, and professional monitoring solutions.