Neo Ivy Capital Management Lowers Stock Position in NRG Energy, Inc. (NYSE:NRG)

Neo Ivy Capital Management lowered its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 39.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,398 shares of the utilities provider's stock after selling 17,238 shares during the period. Neo Ivy Capital Management's holdings in NRG Energy were worth $2,404,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Coldstream Capital Management Inc. raised its stake in shares of NRG Energy by 5.0% in the third quarter. Coldstream Capital Management Inc. now owns 6,829 shares of the utilities provider's stock worth $622,000 after buying an additional 326 shares during the period. Geode Capital Management LLC boosted its stake in NRG Energy by 6.2% during the third quarter. Geode Capital Management LLC now owns 5,399,098 shares of the utilities provider's stock valued at $494,225,000 after buying an additional 313,478 shares during the last quarter. MidWestOne Financial Group Inc. increased its position in NRG Energy by 5.3% in the third quarter. MidWestOne Financial Group Inc. now owns 12,087 shares of the utilities provider's stock worth $1,101,000 after purchasing an additional 606 shares during the last quarter. M&T Bank Corp raised its position in shares of NRG Energy by 0.3% during the 3rd quarter. M&T Bank Corp now owns 38,213 shares of the utilities provider's stock valued at $3,481,000 after buying an additional 113 shares in the last quarter. Finally, Luxor Capital Group LP boosted its holdings in shares of NRG Energy by 47.8% in the 3rd quarter. Luxor Capital Group LP now owns 520,591 shares of the utilities provider's stock worth $47,426,000 after purchasing an additional 168,267 shares during the period. Institutional investors own 97.72% of the company's stock.

Insider Activity at NRG Energy

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the business's 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 sale, the insider now owns 163,680 shares of the company's stock, valued at approximately $13,151,688. The trade was a 38.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is currently owned by corporate insiders.

NRG Energy Stock Up 1.7 %

NYSE NRG traded up $1.57 during midday trading on Wednesday, hitting $95.30. 564,314 shares of the company traded hands, compared to its average volume of 3,204,568. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. The company has a market cap of $19.30 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12. NRG Energy, Inc. has a 52 week low of $47.60 and a 52 week high of $103.14. The company's 50-day simple moving average is $92.83 and its 200-day simple moving average is $84.52.

NRG Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 1.71%. The ex-dividend date of this dividend was Friday, November 1st. NRG Energy's payout ratio is currently 40.95%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NRG shares. Jefferies Financial Group raised shares of NRG Energy from a "hold" rating to a "buy" rating and increased their price objective for the stock from $93.00 to $113.00 in a research report on Tuesday, November 26th. Citigroup boosted their target price 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. Wells Fargo & Company raised their price target on shares of NRG Energy from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, November 11th. StockNews.com cut shares of NRG Energy from a "buy" rating to a "hold" rating in a research report on Monday, September 2nd. Finally, Guggenheim raised their target price on shares of NRG Energy from $77.00 to $118.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $102.71.

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.