Wedmont Private Capital Makes New Investment in NRG Energy, Inc. (NYSE:NRG)

Wedmont Private Capital purchased a new stake in shares of NRG Energy, Inc. (NYSE:NRG) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,257 shares of the utilities provider’s stock, valued at approximately $224,000.

A number of other large investors have also recently made changes to their positions in NRG. Los Angeles Capital Management LLC boosted its holdings in NRG Energy by 32,962.3% in the third quarter. Los Angeles Capital Management LLC now owns 1,052,705 shares of the utilities provider’s stock worth $95,901,000 after purchasing an additional 1,049,521 shares during the last quarter. Fred Alger Management LLC purchased a new position in shares of NRG Energy in the 2nd quarter worth $53,773,000. Bridgewater Associates LP grew its holdings in shares of NRG Energy by 352.9% in the third quarter. Bridgewater Associates LP now owns 804,801 shares of the utilities provider’s stock worth $73,317,000 after acquiring an additional 627,121 shares during the period. Canada Pension Plan Investment Board purchased a new stake in NRG Energy during the second quarter valued at $43,134,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in NRG Energy by 52.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,330,706 shares of the utilities provider’s stock valued at $121,227,000 after acquiring an additional 456,573 shares during the period. 97.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at NRG Energy

In related news, 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 directly owns 64,448 shares of the company’s stock, valued at approximately $5,891,191.68. The trade was a 48.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bruce Chung sold 20,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $97.63, for a total transaction of $1,952,600.00. Following the sale, the chief financial officer now directly owns 69,454 shares of the company’s stock, valued at approximately $6,780,794.02. This trade represents a 22.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

NRG Energy Trading Up 1.9 %

Shares of NRG Energy stock opened at $106.03 on Friday. NRG Energy, Inc. has a fifty-two week low of $50.43 and a fifty-two week high of $106.65. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17. The company has a market capitalization of $21.48 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.17 and a beta of 1.15. The company has a fifty day moving average of $95.45 and a 200 day moving average of $87.06.

NRG Energy Company 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.