Patton Fund Management Inc. Sells 9,118 Shares of NRG Energy, Inc. (NYSE:NRG)

Patton Fund Management Inc. reduced its position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 12.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,445 shares of the utilities provider's stock after selling 9,118 shares during the period. Patton Fund Management Inc.'s holdings in NRG Energy were worth $5,634,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NRG. Robeco Institutional Asset Management B.V. increased its stake in shares of NRG Energy by 7.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 384,013 shares of the utilities provider's stock worth $34,646,000 after purchasing an additional 25,765 shares during the period. R Squared Ltd acquired a new stake in NRG Energy in the 4th quarter valued at approximately $134,000. SteelPeak Wealth LLC bought a new position in NRG Energy in the 4th quarter worth approximately $2,418,000. Union Bancaire Privee UBP SA acquired a new position in shares of NRG Energy during the fourth quarter worth approximately $545,000. Finally, Blue Trust Inc. boosted its position in shares of NRG Energy by 58.4% in the fourth quarter. Blue Trust Inc. now owns 4,492 shares of the utilities provider's stock valued at $409,000 after acquiring an additional 1,657 shares during the period. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NRG has been the subject of several research analyst reports. BMO Capital Markets upped their target price on shares of NRG Energy from $94.00 to $100.00 and gave the company a "market perform" rating in a research note on Tuesday, November 19th. Jefferies Financial Group raised shares of NRG Energy from a "hold" rating to a "buy" rating and upped their price objective for the company from $93.00 to $113.00 in a research report on Tuesday, November 26th. Citigroup lifted their target price on NRG Energy from $84.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Wells Fargo & Company upped their price target on NRG Energy from $130.00 to $140.00 and gave the company an "overweight" rating in a report on Monday, November 11th. Finally, Evercore ISI upgraded NRG Energy from an "in-line" rating to an "outperform" rating and boosted their price objective for the company from $74.00 to $126.00 in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $111.43.

Insider Activity

In related news, VP Robert J. Gaudette sold 60,000 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $91.41, for a total value of $5,484,600.00. Following the completion of the transaction, the vice president now owns 64,448 shares in the company, valued at $5,891,191.68. The trade was a 48.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Bruce Chung sold 20,000 shares of the business's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $97.63, for a total value of $1,952,600.00. Following the sale, the chief financial officer now owns 69,454 shares of the company's stock, valued at approximately $6,780,794.02. The trade was a 22.36 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.

NRG Energy Price Performance

Shares of NYSE NRG traded down $2.36 during midday trading on Friday, reaching $102.65. 2,897,905 shares of the company traded hands, compared to its average volume of 3,176,772. The stock's 50-day simple moving average is $98.17 and its 200-day simple moving average is $89.35. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17. NRG Energy, Inc. has a 12 month low of $51.26 and a 12 month high of $115.38. The firm has a market cap of $20.79 billion, a PE ratio of 25.79, a PEG ratio of 1.19 and a beta of 1.15.

NRG Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.44 per share. This is a positive change from NRG Energy's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.76 annualized dividend and a dividend yield of 1.71%. NRG Energy's dividend payout ratio (DPR) is presently 40.95%.

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.