Martingale Asset Management L P acquired a new position in NRG Energy, Inc. (NYSE:NRG - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,169 shares of the utilities provider's stock, valued at approximately $926,000.
Other large investors also recently modified their holdings of the company. Cetera Investment Advisers grew its stake in shares of NRG Energy by 104.5% in the first quarter. Cetera Investment Advisers now owns 73,865 shares of the utilities provider's stock valued at $5,000,000 after buying an additional 37,750 shares in the last quarter. Cetera Advisors LLC grew its stake in shares of NRG Energy by 106.9% in the first quarter. Cetera Advisors LLC now owns 14,908 shares of the utilities provider's stock valued at $1,009,000 after buying an additional 7,704 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of NRG Energy by 101.0% in the second quarter. GAMMA Investing LLC now owns 4,253 shares of the utilities provider's stock valued at $331,000 after buying an additional 2,137 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of NRG Energy by 43.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 781 shares of the utilities provider's stock valued at $61,000 after buying an additional 237 shares in the last quarter. Finally, Mather Group LLC. grew its stake in NRG Energy by 60.5% during the 2nd quarter. Mather Group LLC. now owns 772 shares of the utilities provider's stock valued at $60,000 after purchasing an additional 291 shares in the last quarter. 97.72% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $80.35, for a total value of $8,244,151.05. Following the completion of the sale, the insider now directly owns 163,680 shares of the company's stock, valued at approximately $13,151,688. This represents a 38.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by company insiders.
NRG Energy Price Performance
Shares of NRG traded down $0.29 during midday trading on Tuesday, reaching $99.11. The stock had a trading volume of 1,731,657 shares, compared to its average volume of 3,240,568. The firm's 50 day moving average price is $91.88 and its 200-day moving average price is $83.84. NRG Energy, Inc. has a 52 week low of $47.22 and a 52 week high of $103.14. The company has a market capitalization of $20.08 billion, a P/E ratio of 24.90, a P/E/G ratio of 1.35 and a beta of 1.12. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10.
NRG Energy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Friday, November 1st. NRG Energy's dividend payout ratio is 40.95%.
Analyst Ratings Changes
A number of brokerages have weighed in on NRG. Wells Fargo & Company raised their price objective on NRG Energy from $130.00 to $140.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. Citigroup raised their price objective 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 upgraded NRG Energy from a "hold" rating to a "buy" rating and lifted their target price for the stock from $93.00 to $113.00 in a research report on Tuesday, November 26th. Guggenheim lifted their target price on NRG Energy from $77.00 to $118.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Finally, StockNews.com downgraded NRG Energy from a "buy" rating to a "hold" rating in a report on Monday, September 2nd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $102.71.
Read Our Latest Research Report on NRG
NRG Energy Company Profile
(
Free Report)
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.
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