NRG Energy, Inc. $NRG Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,568,418 shares of the utilities provider’s stock after purchasing an additional 54,629 shares during the period. Pictet Asset Management Holding SA’s holdings in NRG Energy were worth $150,052,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Parallel Advisors LLC grew its stake in shares of NRG Energy by 3.0% during the 1st quarter. Parallel Advisors LLC now owns 2,523 shares of the utilities provider’s stock valued at $369,000 after buying an additional 74 shares during the period. Gamco Investors INC. ET AL increased its holdings in shares of NRG Energy by 1.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 8,138 shares of the utilities provider’s stock worth $1,189,000 after buying an additional 77 shares during the last quarter. Aspen Grove Capital LLC increased its holdings in shares of NRG Energy by 3.1% during the 1st quarter. Aspen Grove Capital LLC now owns 2,698 shares of the utilities provider’s stock worth $394,000 after buying an additional 81 shares during the last quarter. Charles Schwab Trust Co increased its holdings in shares of NRG Energy by 3.8% during the 3rd quarter. Charles Schwab Trust Co now owns 2,765 shares of the utilities provider’s stock worth $264,000 after buying an additional 100 shares during the last quarter. Finally, Chesley Taft & Associates LLC raised its position in shares of NRG Energy by 1.5% in the 2nd quarter. Chesley Taft & Associates LLC now owns 7,363 shares of the utilities provider’s stock worth $1,075,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Trading Up 0.1%

Shares of NRG stock opened at $88.38 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 5.17. NRG Energy, Inc. has a fifty-two week low of $79.65 and a fifty-two week high of $189.96. The firm’s 50 day moving average price is $102.00 and its two-hundred day moving average price is $133.71. The stock has a market cap of $18.65 billion, a price-to-earnings ratio of 23.38 and a beta of 1.22.

NRG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a $0.4750 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, November 2nd. NRG Energy’s dividend payout ratio (DPR) is currently 50.26%.

Insider Buying and Selling at NRG Energy

In related news, CAO Gerald Alfred Spencer sold 1,580 shares of NRG Energy stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $120.93, for a total transaction of $191,069.40. Following the transaction, the chief accounting officer owned 6,213 shares in the company, valued at approximately $751,338.09. The trade was a 20.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NRG. Scotiabank reduced their target price on NRG Energy from $162.00 to $149.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 28th. Barclays lowered their price target on NRG Energy from $204.00 to $163.00 and set an “overweight” rating for the company in a research report on Tuesday, October 27th. Weiss Ratings upgraded NRG Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 9th. BMO Capital Markets restated a “market perform” rating and issued a $214.00 price objective on shares of NRG Energy in a report on Thursday, August 6th. Finally, Jefferies Financial Group set a $131.00 price objective on NRG Energy in a report on Monday, October 19th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $173.56.

NRG Energy Profile

NRG Energy, Inc is an integrated energy company that produces and sells electricity and natural gas and provides home services. Its businesses serve residential, commercial and industrial customers, primarily in the United States and Canada.

The company supplies retail electricity and natural gas through a range of plans and brands, while its power-generation operations help support electricity markets across its service areas. NRG also offers energy-management programs and related services for businesses and other large customers.

NRG expanded into smart-home services with its 2023 acquisition of Vivint Smart Home.