471,845 Shares in NRG Energy, Inc. $NRG Purchased by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC purchased a new position in shares of NRG Energy, Inc. (NYSE:NRG) during the third quarter, Holdings Channel reports. The firm purchased 471,845 shares of the utilities provider’s stock, valued at approximately $76,415,000. NRG Energy accounts for approximately 1.1% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 29th largest holding.

Several other large investors have also made changes to their positions in NRG. Aviva PLC raised its position in NRG Energy by 9.7% during the second quarter. Aviva PLC now owns 155,392 shares of the utilities provider’s stock worth $24,953,000 after acquiring an additional 13,757 shares during the period. Reaves W H & Co. Inc. increased its stake in shares of NRG Energy by 122.8% during the third quarter. Reaves W H & Co. Inc. now owns 295,471 shares of the utilities provider’s stock worth $47,852,000 after purchasing an additional 162,874 shares in the last quarter. Border to Coast Pensions Partnership Ltd acquired a new position in shares of NRG Energy during the 3rd quarter worth about $27,003,000. American Century Companies Inc. lifted its stake in NRG Energy by 68.2% in the 2nd quarter. American Century Companies Inc. now owns 251,366 shares of the utilities provider’s stock valued at $40,364,000 after buying an additional 101,922 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in NRG Energy in the 2nd quarter worth about $418,000. 97.72% of the stock is owned by institutional investors and hedge funds.

NRG Energy Stock Up 6.7%

NYSE NRG opened at $172.60 on Friday. The business’s fifty day simple moving average is $156.04 and its 200-day simple moving average is $159.94. The company has a quick ratio of 0.99, a current ratio of 1.05 and a debt-to-equity ratio of 8.45. The firm has a market cap of $37.05 billion, a PE ratio of 25.80 and a beta of 1.27. NRG Energy, Inc. has a 52 week low of $79.57 and a 52 week high of $180.54.

NRG Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, February 2nd. This is a positive change from NRG Energy’s previous quarterly dividend of $0.44. NRG Energy’s dividend payout ratio (DPR) is presently 28.40%.

NRG Energy declared that its board has approved a share buyback plan on Thursday, November 6th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the utilities provider to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

NRG has been the topic of several research reports. UBS Group started coverage on NRG Energy in a research report on Tuesday, December 9th. They issued a “buy” rating and a $211.00 target price on the stock. Morgan Stanley reissued an “underperform” rating on shares of NRG Energy in a research note on Thursday, November 20th. BMO Capital Markets lifted their target price on shares of NRG Energy from $185.00 to $195.00 and gave the stock a “market perform” rating in a research note on Friday, November 7th. Jefferies Financial Group reduced their target price on shares of NRG Energy from $198.00 to $181.00 and set a “buy” rating for the company in a research report on Tuesday, January 27th. Finally, Wells Fargo & Company boosted their price target on shares of NRG Energy from $202.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $184.91.

Insider Activity

In related news, VP Robert J. Gaudette sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $158.76, for a total value of $7,144,200.00. Following the transaction, the vice president directly owned 63,920 shares in the company, valued at approximately $10,147,939.20. This represents a 41.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Bruce Chung sold 12,383 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $156.56, for a total value of $1,938,682.48. Following the completion of the transaction, the chief financial officer owned 79,147 shares of the company’s stock, valued at $12,391,254.32. The trade was a 13.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 172,556 shares of company stock valued at $27,550,446 in the last 90 days. Company insiders own 0.86% of the company’s stock.

NRG Energy Profile

NRG Energy (NYSE: NRG) is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG’s generation mix includes conventional thermal plants as well as renewable and distributed energy resources.