Hillsdale Investment Management Inc. Acquires New Holdings in NRG Energy, Inc. $NRG

Hillsdale Investment Management Inc. bought a new position in NRG Energy, Inc. (NYSE:NRG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,310 shares of the utilities provider’s stock, valued at approximately $1,022,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aviva PLC raised its stake in shares of NRG Energy by 9.7% in the 2nd quarter. Aviva PLC now owns 155,392 shares of the utilities provider’s stock valued at $24,953,000 after acquiring an additional 13,757 shares in the last quarter. Reaves W H & Co. Inc. boosted its position in 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 during the period. MidWestOne Financial Group Inc. grew its holdings in NRG Energy by 58.1% during the third quarter. MidWestOne Financial Group Inc. now owns 19,992 shares of the utilities provider’s stock valued at $3,238,000 after purchasing an additional 7,344 shares during the last quarter. Border to Coast Pensions Partnership Ltd bought a new position in shares of NRG Energy in the third quarter valued at approximately $27,003,000. Finally, American Century Companies Inc. raised its position in shares of NRG Energy by 68.2% in the second quarter. American Century Companies Inc. now owns 251,366 shares of the utilities provider’s stock valued at $40,364,000 after purchasing an additional 101,922 shares during the period. Institutional investors own 97.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NRG. Wells Fargo & Company raised their target price on shares of NRG Energy from $202.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Morgan Stanley set a $153.00 price target on shares of NRG Energy in a report on Tuesday, February 17th. UBS Group initiated coverage on NRG Energy in a research note on Tuesday, December 9th. They issued a “buy” rating and a $211.00 price objective on the stock. Jefferies Financial Group decreased their target price on NRG Energy from $198.00 to $181.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of NRG Energy in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.45.

NRG Energy Trading Down 1.3%

Shares of NRG Energy stock opened at $176.79 on Tuesday. NRG Energy, Inc. has a 52-week low of $79.57 and a 52-week high of $182.04. The firm has a market capitalization of $37.95 billion, a PE ratio of 26.43 and a beta of 1.27. The company has a debt-to-equity ratio of 8.45, a current ratio of 1.05 and a quick ratio of 0.99. The company’s fifty day moving average price is $157.19 and its two-hundred day moving average price is $160.36.

NRG Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were paid a dividend of $0.475 per share. This is a positive change from NRG Energy’s previous quarterly dividend of $0.44. This represents a $1.90 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, February 2nd. NRG Energy’s dividend payout ratio is 28.40%.

NRG Energy announced that its board has authorized a stock buyback program on Thursday, November 6th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at NRG Energy

In other 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Brian Curci sold 46,976 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $158.84, for a total value of $7,461,667.84. Following the transaction, the vice president owned 46,113 shares of the company’s stock, valued at $7,324,588.92. This trade represents a 50.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 172,556 shares of company stock valued at $27,550,446. 0.61% of the stock is currently owned by corporate insiders.

About NRG Energy

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.