Cigna Investments Inc. New Takes Position in NRG Energy, Inc. (NYSE:NRG)

Cigna Investments Inc. New bought a new stake in NRG Energy, Inc. (NYSE:NRG) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 2,233 shares of the utilities provider’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NRG. Measured Wealth Private Client Group LLC acquired a new stake in NRG Energy in the 3rd quarter valued at $471,000. Solidarity Wealth LLC lifted its stake in shares of NRG Energy by 140.6% in the third quarter. Solidarity Wealth LLC now owns 9,206 shares of the utilities provider’s stock valued at $839,000 after buying an additional 5,379 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in shares of NRG Energy during the third quarter valued at about $2,043,000. First Trust Direct Indexing L.P. increased its position in shares of NRG Energy by 6.2% during the third quarter. First Trust Direct Indexing L.P. now owns 7,260 shares of the utilities provider’s stock worth $661,000 after acquiring an additional 422 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of NRG Energy in the 3rd quarter worth about $216,000. 97.72% of the stock is owned by institutional investors.

Insider Transactions at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup lifted their price target on NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group started coverage on NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 price target for the company. StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Guggenheim lifted their price objective on shares of NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, BMO Capital Markets upped their price objective on shares of NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, NRG Energy has a consensus rating of “Hold” and an average price target of $89.75.

NRG Energy Stock Down 3.6 %

NRG opened at $86.72 on Friday. NRG Energy, Inc. has a twelve month low of $41.73 and a twelve month high of $96.40. The company’s 50-day moving average price is $86.24 and its two-hundred day moving average price is $80.95. The stock has a market cap of $17.90 billion, a price-to-earnings ratio of 9.45 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.

NRG Energy (NYSE:NRG) last issued its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $1.82. The business had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $8.32 billion. NRG Energy had a net margin of 7.19% and a return on equity of 43.69%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 EPS. As a group, equities analysts expect that NRG Energy, Inc. will post 6.17 earnings per share for the current year.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Friday, November 1st. NRG Energy’s payout ratio is currently 17.76%.

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.