NRG Energy (NYSE:NRG) Sets New 52-Week High – What’s Next?

NRG Energy, Inc. (NYSE:NRG)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $103.55 and last traded at $102.45, with a volume of 97461 shares trading hands. The stock had previously closed at $99.79.

Analyst Upgrades and Downgrades

NRG has been the topic of a number of research analyst reports. Citigroup upped their target price on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets upped their price objective on shares of NRG Energy from $94.00 to $100.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 19th. Jefferies Financial Group upgraded shares of NRG Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from $93.00 to $113.00 in a research report on Tuesday, November 26th. Wells Fargo & Company raised their price objective on shares of NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Finally, Guggenheim upped their target price on shares of NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, NRG Energy presently has an average rating of “Moderate Buy” and an average target price of $102.71.

NRG Energy Stock Performance

The business’s fifty day simple moving average is $95.64 and its 200-day simple moving average is $87.20. The firm has a market cap of $21.48 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 1.17 and a beta of 1.15. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57.

Insider Buying and Selling

In related news, CFO Bruce Chung sold 20,000 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $97.63, for a total value of $1,952,600.00. Following the completion of the sale, the chief financial officer now owns 69,454 shares of the company’s stock, valued at $6,780,794.02. This trade represents a 22.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert J. Gaudette sold 60,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $91.41, for a total transaction of $5,484,600.00. Following the transaction, the vice president now directly owns 64,448 shares in the company, valued at approximately $5,891,191.68. The trade was a 48.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On NRG Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in NRG Energy by 17.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 109,468 shares of the utilities provider’s stock valued at $8,523,000 after purchasing an additional 16,274 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of NRG Energy by 16.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 182,569 shares of the utilities provider’s stock worth $14,215,000 after buying an additional 25,563 shares during the last quarter. Virtu Financial LLC raised its stake in NRG Energy by 188.2% during the 2nd quarter. Virtu Financial LLC now owns 14,859 shares of the utilities provider’s stock worth $1,157,000 after acquiring an additional 9,703 shares during the period. Mutual of America Capital Management LLC increased its stake in NRG Energy by 39.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 65,871 shares of the utilities provider’s stock worth $5,129,000 after buying an additional 18,661 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of NRG Energy by 15.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 36,956 shares of the utilities provider’s stock valued at $2,877,000 after acquiring an additional 5,067 shares in the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

About NRG Energy

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.