iA Global Asset Management Inc. trimmed its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 78.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,423 shares of the utilities provider's stock after selling 75,949 shares during the quarter. iA Global Asset Management Inc.'s holdings in NRG Energy were worth $1,952,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Banco Santander S.A. bought a new stake in shares of NRG Energy in the 2nd quarter valued at $217,671,000. Los Angeles Capital Management LLC lifted its stake in shares of NRG Energy by 32,962.3% in the third 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 in the last quarter. Fred Alger Management LLC purchased a new stake in shares of NRG Energy in the second quarter valued at about $53,773,000. Assenagon Asset Management S.A. raised its holdings in shares of NRG Energy by 65.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider's stock valued at $124,318,000 after purchasing an additional 633,765 shares during the last quarter. Finally, Bridgewater Associates LP raised its holdings in shares of NRG Energy by 352.9% in the third quarter. Bridgewater Associates LP now owns 804,801 shares of the utilities provider's stock valued at $73,317,000 after purchasing an additional 627,121 shares during the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
NRG has been the subject of several analyst reports. Citigroup increased their target price on shares of NRG Energy from $84.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Guggenheim raised 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. BMO Capital Markets raised their price objective on shares of NRG Energy from $94.00 to $100.00 and gave the stock a "market perform" rating in a report on Tuesday, November 19th. Wells Fargo & Company increased their target price on shares of NRG Energy from $130.00 to $140.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. Finally, StockNews.com lowered shares of NRG Energy from a "buy" rating to a "hold" rating in a research report on Monday, September 2nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, NRG Energy currently has a consensus rating of "Moderate Buy" and an average price target of $102.71.
Check Out Our Latest Analysis on NRG
Insider Buying and Selling at NRG Energy
In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the completion of the sale, the insider now directly owns 163,680 shares in the company, valued at $13,151,688. The trade was a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.86% of the stock is currently owned by company insiders.
NRG Energy Price Performance
Shares of NRG stock traded down $3.19 during trading hours on Monday, reaching $96.07. The stock had a trading volume of 2,339,791 shares, compared to its average volume of 3,219,898. The stock's fifty day simple moving average is $92.71 and its 200 day simple moving average is $84.36. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57. NRG Energy, Inc. has a 12 month low of $47.60 and a 12 month high of $103.14. The firm has a market capitalization of $19.46 billion, a PE ratio of 24.14, a PEG ratio of 1.35 and a beta of 1.12.
NRG Energy Dividend Announcement
The business also recently announced 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 was Friday, November 1st. This represents a $1.63 annualized dividend and a yield of 1.70%. NRG Energy's payout ratio is presently 40.95%.
About NRG Energy
(
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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