NRG Energy, Inc. (NYSE:NRG) Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC lifted its holdings in NRG Energy, Inc. (NYSE:NRG - Free Report) by 23.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 854,463 shares of the utilities provider's stock after purchasing an additional 163,830 shares during the period. Fred Alger Management LLC owned about 0.42% of NRG Energy worth $77,842,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers boosted its position in shares of NRG Energy by 104.5% in the 1st quarter. Cetera Investment Advisers now owns 73,865 shares of the utilities provider's stock worth $5,000,000 after purchasing an additional 37,750 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of NRG Energy by 65.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider's stock valued at $124,318,000 after acquiring an additional 633,765 shares during the last quarter. Friedenthal Financial purchased a new position in shares of NRG Energy during the second quarter worth $746,000. Bank of Hawaii lifted its position in NRG Energy by 95.5% during the third quarter. Bank of Hawaii now owns 15,685 shares of the utilities provider's stock valued at $1,429,000 after purchasing an additional 7,662 shares during the period. Finally, Intech Investment Management LLC boosted its holdings in NRG Energy by 169.3% in the third quarter. Intech Investment Management LLC now owns 263,904 shares of the utilities provider's stock valued at $24,042,000 after purchasing an additional 165,912 shares during the last quarter. Hedge funds and other institutional investors own 97.72% of the company's stock.

NRG Energy Price Performance

NRG stock traded up $2.72 during trading on Friday, hitting $101.61. The stock had a trading volume of 1,647,389 shares, compared to its average volume of 3,251,974. The company's 50-day moving average price is $91.65 and its two-hundred day moving average price is $83.72. NRG Energy, Inc. has a twelve month low of $46.74 and a twelve month high of $103.14. The stock has a market capitalization of $20.58 billion, a P/E ratio of 25.53, a PEG ratio of 1.35 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. Investors of record on Friday, November 1st were given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Friday, November 1st. NRG Energy's payout ratio is 40.95%.

Wall Street Analyst Weigh In

NRG has been the subject of a number of recent research reports. BMO Capital Markets lifted their price objective on NRG Energy from $94.00 to $100.00 and gave the company a "market perform" rating in a research note on Tuesday, November 19th. Guggenheim lifted their price target on NRG Energy from $77.00 to $118.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Citigroup upped their price objective on NRG Energy from $84.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Jefferies Financial Group raised shares of NRG Energy from a "hold" rating to a "buy" rating and lifted their target price for the company from $93.00 to $113.00 in a report on Tuesday. Finally, 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. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $102.71.

Insider Activity at NRG Energy

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 sale, the insider now owns 163,680 shares of the company's stock, valued at approximately $13,151,688. This represents a 38.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.86% of the stock is owned by corporate insiders.

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.