Eagle Asset Management Inc. Takes Position in NRG Energy, Inc. (NYSE:NRG)

Eagle Asset Management Inc. bought a new position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 69,100 shares of the utilities provider's stock, valued at approximately $6,643,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NRG. O Shaughnessy Asset Management LLC lifted its holdings in shares of NRG Energy by 35.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 8,723 shares of the utilities provider's stock valued at $590,000 after purchasing an additional 2,304 shares in the last quarter. SVB Wealth LLC increased its holdings in NRG Energy by 38.2% in the 1st quarter. SVB Wealth LLC now owns 9,671 shares of the utilities provider's stock worth $655,000 after acquiring an additional 2,673 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in 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 worth $1,541,000 after buying an additional 4,421 shares during the period. Redwood Investment Management LLC grew its position in shares of NRG Energy by 61.0% in the first quarter. Redwood Investment Management LLC now owns 22,394 shares of the utilities provider's stock valued at $1,516,000 after purchasing an additional 8,481 shares in the last quarter. Finally, Tidal Investments LLC increased its position in shares of NRG Energy by 35.6% during the first quarter. Tidal Investments LLC now owns 29,321 shares of the utilities provider's stock valued at $1,985,000 after buying an additional 7,705 shares during the period. Institutional investors own 97.72% of the company's stock.

Insider Buying and Selling at NRG Energy

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the firm's 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 transaction, the insider now directly owns 163,680 shares of the company's stock, valued at approximately $13,151,688. This trade represents a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NRG shares. Wells Fargo & Company increased their price target on shares of NRG Energy from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. Guggenheim upped their price objective on shares of NRG Energy from $77.00 to $118.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Citigroup raised their price objective on shares of NRG Energy from $84.00 to $100.00 and gave the stock a "buy" rating in a report 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. Finally, BMO Capital Markets raised their price objective 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. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, NRG Energy presently has a consensus rating of "Hold" and a consensus price target of $98.29.

NRG Energy Stock Down 3.8 %

NYSE NRG traded down $3.61 during mid-day trading on Monday, reaching $91.87. The stock had a trading volume of 4,369,986 shares, compared to its average volume of 3,258,086. The company has a fifty day moving average price of $90.06 and a 200 day moving average price of $83.18. 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, Inc. has a 1 year low of $45.46 and a 1 year high of $102.84. The stock has a market cap of $18.61 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10.

NRG Energy Announces Dividend

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

About NRG Energy

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.