Bank of Montreal Can Has $49.88 Million Stock Position in NRG Energy, Inc. (NYSE:NRG)

Bank of Montreal Can trimmed its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 29.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 546,816 shares of the utilities provider's stock after selling 224,274 shares during the quarter. Bank of Montreal Can owned 0.27% of NRG Energy worth $49,881,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NRG. B. Riley Wealth Advisors Inc. increased its stake in shares of NRG Energy by 24.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 22,761 shares of the utilities provider's stock valued at $1,541,000 after purchasing an additional 4,421 shares during the last quarter. Tidal Investments LLC grew its position in NRG Energy by 35.6% in the first quarter. Tidal Investments LLC now owns 29,321 shares of the utilities provider's stock valued at $1,985,000 after acquiring an additional 7,705 shares during the last quarter. Virtu Financial LLC acquired a new position in NRG Energy during the first quarter worth about $349,000. Cetera Investment Advisers lifted its holdings 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 worth $5,000,000 after acquiring an additional 37,750 shares during the last quarter. Finally, Cetera Advisors LLC boosted its stake in shares of NRG Energy by 106.9% in the 1st quarter. Cetera Advisors LLC now owns 14,908 shares of the utilities provider's stock valued at $1,009,000 after purchasing an additional 7,704 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on NRG shares. Citigroup increased their price objective on shares of NRG Energy from $84.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. StockNews.com lowered NRG Energy from a "buy" rating to a "hold" rating in a research report on Monday, September 2nd. BMO Capital Markets increased their target price on NRG Energy from $94.00 to $100.00 and gave the company a "market perform" rating in a research report on Tuesday, November 19th. Wells Fargo & Company boosted their price target on NRG Energy from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. Finally, Guggenheim raised their price objective on shares of NRG Energy from $77.00 to $118.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, NRG Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.71.

Insiders Place Their Bets

In other news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction on Friday, September 13th. The shares were 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 owns 163,680 shares in the company, valued at $13,151,688. The trade was a 38.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.86% of the company's stock.

NRG Energy Trading Down 2.2 %

Shares of NRG Energy stock traded down $2.27 during midday trading on Thursday, reaching $98.89. The company had a trading volume of 2,037,232 shares, compared to its average volume of 3,258,951. The stock has a fifty day moving average price of $91.02 and a 200 day moving average price of $83.48. NRG Energy, Inc. has a fifty-two week low of $46.23 and a fifty-two week high of $102.84. The firm has a market cap of $20.03 billion, a PE ratio of 24.85, a P/E/G ratio of 1.34 and a beta of 1.10. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a dividend of $0.4075 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a yield of 1.65%. NRG Energy's dividend payout ratio (DPR) is currently 40.95%.

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.