Assenagon Asset Management S.A. Sells 1,456,391 Shares of NRG Energy, Inc. (NYSE:NRG)

Assenagon Asset Management S.A. decreased its position in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 91.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140,293 shares of the utilities provider's stock after selling 1,456,391 shares during the period. Assenagon Asset Management S.A. owned approximately 0.07% of NRG Energy worth $12,781,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Banco Santander S.A. bought a new stake in shares of NRG Energy in the second quarter valued at approximately $217,671,000. Capitolis Liquid Global Markets LLC grew its holdings in shares of NRG Energy by 253.2% during the 1st quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider's stock worth $119,541,000 after purchasing an additional 1,266,000 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of NRG Energy by 11.1% in the first quarter. Russell Investments Group Ltd. now owns 1,610,562 shares of the utilities provider's stock worth $109,007,000 after purchasing an additional 160,415 shares during the period. Zimmer Partners LP acquired a new position in NRG Energy in the first quarter valued at about $64,306,000. Finally, Jupiter Asset Management Ltd. lifted its position in NRG Energy by 114.3% during the second quarter. Jupiter Asset Management Ltd. now owns 837,461 shares of the utilities provider's stock worth $65,205,000 after purchasing an additional 446,743 shares during the period. Institutional investors and hedge funds own 97.72% of the company's stock.

Wall Street Analyst Weigh In

NRG has been the subject of several analyst reports. Guggenheim boosted their target price on shares of NRG Energy from $77.00 to $118.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Wells Fargo & Company upped their target price on NRG Energy from $110.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, September 5th. BMO Capital Markets lifted their price target on NRG Energy from $88.00 to $90.00 and gave the company a "market perform" rating in a research note on Monday, September 30th. Jefferies Financial Group assumed coverage on NRG Energy in a research report on Friday, September 13th. They set a "hold" rating and a $82.00 price objective for the company. Finally, StockNews.com cut NRG Energy from a "buy" rating to a "hold" rating in a research report on Monday, September 2nd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $83.25.

NRG Energy Trading Up 1.4 %

Shares of NRG stock traded up $1.20 during mid-day trading on Monday, reaching $88.73. 1,814,468 shares of the stock traded hands, compared to its average volume of 3,300,980. The company has a market cap of $18.31 billion, a price-to-earnings ratio of 9.67 and a beta of 1.10. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 3.51. The stock's fifty day simple moving average is $85.76 and its two-hundred day simple moving average is $80.64. NRG Energy, Inc. has a 1-year low of $41.49 and a 1-year high of $96.40.

NRG Energy (NYSE:NRG - Get Free Report) last posted its earnings results on Thursday, August 8th. The utilities provider reported $3.37 EPS for the quarter, topping the consensus estimate of $1.55 by $1.82. The business had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The firm's revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $1.10 EPS. On average, research analysts anticipate that NRG Energy, Inc. will post 6.09 EPS for the current fiscal year.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.4075 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a yield of 1.84%. NRG Energy's payout ratio is 17.76%.

Insider Buying and Selling

In related news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $80.35, for a total value of $8,244,151.05. Following the transaction, the insider now directly owns 163,680 shares of the company's stock, valued at $13,151,688. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by corporate insiders.

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.