Strategy Asset Managers LLC Takes $1.07 Million Position in NRG Energy, Inc. (NYSE:NRG)

Strategy Asset Managers LLC acquired a new position in NRG Energy, Inc. (NYSE:NRG) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,784 shares of the utilities provider’s stock, valued at approximately $1,074,000.

Several other hedge funds have also recently bought and sold shares of the company. Quadrature Capital Ltd increased its holdings in shares of NRG Energy by 148.6% during the first quarter. Quadrature Capital Ltd now owns 21,814 shares of the utilities provider’s stock valued at $1,477,000 after purchasing an additional 13,040 shares during the period. Cetera Investment Advisers increased its stake in NRG Energy by 104.5% during the 1st quarter. Cetera Investment Advisers now owns 73,865 shares of the utilities provider’s stock valued at $5,000,000 after buying an additional 37,750 shares during the period. Assenagon Asset Management S.A. raised its position in shares of NRG Energy by 65.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock worth $124,318,000 after buying an additional 633,765 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of NRG Energy in the 2nd quarter worth approximately $746,000. Finally, NatWest Group plc boosted its holdings in shares of NRG Energy by 9.1% in the third quarter. NatWest Group plc now owns 79,202 shares of the utilities provider’s stock valued at $7,215,000 after acquiring an additional 6,618 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors.

NRG Energy Stock Performance

Shares of NYSE:NRG opened at $94.86 on Wednesday. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.10. The business’s fifty day moving average price is $89.14 and its two-hundred day moving average price is $82.76. NRG Energy, Inc. has a fifty-two week low of $44.90 and a fifty-two week high of $102.84. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10.

NRG Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a $0.4075 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.63 annualized dividend and a yield of 1.72%. NRG Energy’s payout ratio is 40.95%.

Insiders Place Their Bets

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. The trade was a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

NRG has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on NRG Energy from $94.00 to $100.00 and gave the stock a “market perform” rating in a research note on Tuesday. Jefferies Financial Group began coverage on shares of NRG Energy in a research report on Friday, September 13th. They issued a “hold” rating and a $82.00 price target on the stock. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Citigroup raised their target price on shares of NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Guggenheim lifted their target price on shares of NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, NRG Energy currently has a consensus rating of “Hold” and a consensus target price of $98.29.

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.