Glenmede Trust Co. NA Reduces Position in NRG Energy, Inc. (NYSE:NRG)

Glenmede Trust Co. NA trimmed its holdings in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 30.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,374 shares of the utilities provider's stock after selling 11,287 shares during the quarter. Glenmede Trust Co. NA's holdings in NRG Energy were worth $2,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in NRG. Virtu Financial LLC acquired a new position in shares of NRG Energy during the first quarter valued at about $349,000. Cetera Investment Advisers raised 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 buying an additional 37,750 shares during the last quarter. Cetera Advisors LLC lifted its stake in shares of NRG Energy by 106.9% during the first quarter. Cetera Advisors LLC now owns 14,908 shares of the utilities provider's stock worth $1,009,000 after buying an additional 7,704 shares during the period. GAMMA Investing LLC grew its holdings in shares of NRG Energy by 101.0% during the second quarter. GAMMA Investing LLC now owns 4,253 shares of the utilities provider's stock valued at $331,000 after buying an additional 2,137 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of NRG Energy by 43.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 781 shares of the utilities provider's stock valued at $61,000 after acquiring an additional 237 shares during the period. 97.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Rasesh M. Patel sold 102,603 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 163,680 shares in the company, valued at $13,151,688. This represents a 38.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.86% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on NRG. Jefferies Financial Group raised NRG Energy from a "hold" rating to a "buy" rating and lifted their price target for the stock from $93.00 to $113.00 in a research report on Tuesday, November 26th. BMO Capital Markets upped 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. Guggenheim lifted their price objective on shares of NRG Energy from $77.00 to $118.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Citigroup increased their price objective on shares of NRG Energy from $84.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company boosted their target price on shares of NRG Energy from $130.00 to $140.00 and gave the company an "overweight" rating in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, NRG Energy has an average rating of "Moderate Buy" and an average price target of $102.71.

NRG Energy Price Performance

Shares of NRG Energy stock traded up $2.72 during trading hours on Friday, reaching $101.61. The stock had a trading volume of 1,647,389 shares, compared to its average volume of 2,795,713. NRG Energy, Inc. has a twelve month low of $46.74 and a twelve month high of $103.14. 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 firm has a market capitalization of $20.58 billion, a PE ratio of 25.53, a PEG ratio of 1.38 and a beta of 1.10. The stock's 50 day moving average is $91.65 and its 200 day moving average is $83.73.

NRG Energy Announces Dividend

The firm 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 1.60%. NRG Energy's dividend payout ratio is currently 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.