Kingsview Wealth Management LLC Invests $2.51 Million in NRG Energy, Inc. (NYSE:NRG)

Kingsview Wealth Management LLC bought a new stake in NRG Energy, Inc. (NYSE:NRG - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 27,591 shares of the utilities provider's stock, valued at approximately $2,514,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Banco Santander S.A. acquired a new position in NRG Energy in the second quarter valued at about $217,671,000. Los Angeles Capital Management LLC raised its holdings in shares of NRG Energy by 32,962.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,052,705 shares of the utilities provider's stock valued at $95,901,000 after buying an additional 1,049,521 shares during the period. Zimmer Partners LP purchased a new stake in shares of NRG Energy in the 1st quarter valued at $64,306,000. Fred Alger Management LLC purchased a new position in NRG Energy during the 2nd quarter valued at about $53,773,000. Finally, Assenagon Asset Management S.A. grew its position in NRG Energy by 65.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider's stock valued at $124,318,000 after acquiring an additional 633,765 shares in the last quarter. Hedge funds and other institutional investors own 97.72% of the company's stock.

Insider Buying and Selling

In other news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NRG has been the subject of several recent research reports. 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 note on Monday, November 11th. Guggenheim raised their price target on shares of NRG Energy from $77.00 to $118.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Jefferies Financial Group began coverage on NRG Energy in a research report on Friday, September 13th. They set a "hold" rating and a $82.00 price objective on the stock. Citigroup lifted their target price on NRG Energy from $84.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, BMO Capital Markets upped their price target on NRG Energy from $94.00 to $100.00 and gave the stock a "market perform" rating in a report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $98.29.

NRG Energy Stock Down 3.7 %

NRG stock traded down $3.56 during trading on Monday, hitting $91.92. 4,385,200 shares of the company's stock were exchanged, compared to its average volume of 3,258,150. The stock has a market capitalization of $18.62 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.39 and a beta of 1.10. NRG Energy, Inc. has a 52-week low of $45.46 and a 52-week high of $102.84. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57. The business has a 50-day moving average price of $90.28 and a two-hundred day moving average price of $83.25.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Friday, November 1st. NRG Energy's dividend payout ratio (DPR) is 40.95%.

NRG Energy 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.