The Manufacturers Life Insurance Company Lowers Stake in NRG Energy, Inc. (NYSE:NRG)

The Manufacturers Life Insurance Company lowered its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 15.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,315 shares of the utilities provider's stock after selling 30,527 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of NRG Energy worth $15,516,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in NRG Energy during the third quarter worth about $26,000. Covestor Ltd boosted its holdings in NRG Energy by 74.7% in the 3rd quarter. Covestor Ltd now owns 325 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 139 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of NRG Energy in the 2nd quarter worth approximately $32,000. First Horizon Advisors Inc. lifted its holdings in shares of NRG Energy by 76.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider's stock worth $34,000 after acquiring an additional 191 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of NRG Energy in the 3rd quarter worth approximately $35,000. 97.72% of the stock is currently owned by institutional investors and hedge funds.

NRG Energy Stock Performance

NYSE:NRG traded down $1.51 during trading hours on Monday, reaching $100.10. 490,500 shares of the company's stock were exchanged, compared to its average volume of 3,239,937. The firm has a market capitalization of $20.28 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 1.38 and a beta of 1.10. The company has a 50-day moving average of $91.65 and a 200 day moving average of $83.73. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. NRG Energy, Inc. has a 1-year low of $47.22 and a 1-year high of $103.14.

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Friday, November 1st. NRG Energy's dividend payout ratio is currently 40.95%.

Insider Buying and Selling

In other news, insider Rasesh M. Patel sold 102,603 shares of the firm's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $80.35, for a total value of $8,244,151.05. Following the completion of the sale, the insider now owns 163,680 shares in the company, valued at approximately $13,151,688. This trade represents a 38.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.86% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NRG. Wells Fargo & Company upped their target price on shares of NRG Energy from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, November 11th. BMO Capital Markets upped their target price on shares of NRG Energy from $94.00 to $100.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 19th. StockNews.com downgraded shares of NRG Energy from a "buy" rating to a "hold" rating in a research note on Monday, September 2nd. Guggenheim increased their price objective 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. Finally, Jefferies Financial Group raised shares of NRG Energy from a "hold" rating to a "buy" rating and increased their price objective for the company from $93.00 to $113.00 in a research report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $102.71.

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.