Kingsview Wealth Management LLC Makes New Investment in NRG Energy, Inc. (NYSE:NRG)

Kingsview Wealth Management LLC purchased a new stake in shares of NRG Energy, Inc. (NYSE:NRG) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 27,591 shares of the utilities provider’s stock, valued at approximately $2,514,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in NRG Energy during the 3rd quarter worth approximately $26,000. Covestor Ltd grew its position in shares of NRG Energy by 74.7% during 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 in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of NRG Energy in the third quarter worth $35,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of NRG Energy in the third quarter worth $36,000. Finally, Rothschild Investment LLC bought a new stake in NRG Energy during the second quarter valued at $32,000. 97.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on NRG. BMO Capital Markets raised their price target on NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a report on Tuesday, November 19th. Guggenheim lifted 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. Citigroup increased their price target 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. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, Jefferies Financial Group assumed coverage on NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $98.29.

Insider Buying and Selling at NRG Energy

In related news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy 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 transaction, the insider now directly owns 163,680 shares of the company’s stock, valued at $13,151,688. The trade was a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.61% of the company’s stock.

NRG Energy Stock Down 1.5 %

NRG opened at $95.48 on Monday. NRG Energy, Inc. has a 12 month low of $45.29 and a 12 month high of $102.84. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57. The business’s 50-day moving average price is $90.06 and its 200-day moving average price is $83.18. The company has a market cap of $19.34 billion, a P/E ratio of 23.99, a P/E/G ratio of 1.39 and a beta of 1.10.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a $0.4075 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a yield of 1.71%. NRG Energy’s dividend payout ratio (DPR) is currently 40.95%.

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.