Paloma Partners Management Co Has $1.42 Million Position in NRG Energy, Inc. (NYSE:NRG)

Paloma Partners Management Co lessened its position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 65.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,594 shares of the utilities provider's stock after selling 29,038 shares during the period. Paloma Partners Management Co's holdings in NRG Energy were worth $1,421,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in NRG Energy during the third quarter worth about $26,000. Covestor Ltd raised its position in shares of NRG Energy by 74.7% during the 3rd quarter. Covestor Ltd now owns 325 shares of the utilities provider's stock worth $30,000 after purchasing an additional 139 shares during the period. Harbor Capital Advisors Inc. acquired a new position in NRG Energy during the 3rd quarter valued at approximately $35,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in NRG Energy during the 3rd quarter valued at approximately $36,000. Finally, Rothschild Investment LLC acquired a new stake in NRG Energy in the second quarter worth $32,000. Institutional investors and hedge funds own 97.72% of the company's stock.

NRG Energy Price Performance

Shares of NRG stock traded down $0.29 during mid-day trading on Tuesday, hitting $99.11. 1,731,657 shares of the stock traded hands, compared to its average volume of 3,240,568. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17. The firm has a market cap of $20.08 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12. The company's 50-day simple moving average is $91.88 and its 200-day simple moving average is $83.84. NRG Energy, Inc. has a twelve month low of $47.22 and a twelve month high of $103.14.

NRG Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 annualized dividend and a dividend yield of 1.64%. NRG Energy's dividend payout ratio (DPR) is 40.95%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NRG. Guggenheim boosted their price target on shares of NRG Energy from $77.00 to $118.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Jefferies Financial Group upgraded shares of NRG Energy from a "hold" rating to a "buy" rating and upped their target price for the stock from $93.00 to $113.00 in a research report on Tuesday, November 26th. StockNews.com cut NRG Energy from a "buy" rating to a "hold" rating in a report on Monday, September 2nd. BMO Capital Markets increased their price objective on NRG Energy from $94.00 to $100.00 and gave the stock a "market perform" rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company lifted their target price on NRG Energy from $130.00 to $140.00 and gave the company an "overweight" rating in a research note 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 company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $102.71.

Insider Buying and Selling

In other news, insider Rasesh M. Patel sold 102,603 shares of the business's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the sale, the insider now directly owns 163,680 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this link. Insiders own 0.61% of the company's stock.

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.