Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Position in NRG Energy, Inc. (NYSE:NRG)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in NRG Energy, Inc. (NYSE:NRG) by 16.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,182 shares of the utilities provider’s stock after selling 18,524 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NRG Energy were worth $8,671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of NRG. Castle Rock Wealth Management LLC grew its position in shares of NRG Energy by 3.5% in the third quarter. Castle Rock Wealth Management LLC now owns 3,746 shares of the utilities provider’s stock valued at $356,000 after purchasing an additional 126 shares in the last quarter. Park Avenue Securities LLC grew its holdings in NRG Energy by 2.8% during the 3rd quarter. Park Avenue Securities LLC now owns 4,910 shares of the utilities provider’s stock valued at $447,000 after buying an additional 134 shares in the last quarter. Covestor Ltd increased its position in shares of NRG Energy by 74.7% during the third quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock valued at $30,000 after buying an additional 139 shares during the period. Asahi Life Asset Management CO. LTD. lifted its holdings in shares of NRG Energy by 3.5% in the third quarter. Asahi Life Asset Management CO. LTD. now owns 4,420 shares of the utilities provider’s stock worth $403,000 after buying an additional 150 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of NRG Energy by 76.1% in the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 191 shares during the period. Institutional investors own 97.72% of the company’s stock.

Wall Street Analysts Forecast Growth

NRG has been the topic of a number of analyst reports. 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 report on Monday, November 11th. Citigroup increased their price objective on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Guggenheim boosted their target price on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. 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. Finally, StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, NRG Energy presently has a consensus rating of “Moderate Buy” and an average price target of $102.71.

Insider Buying and Selling

In other news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction dated 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. This trade represents a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.86% of the stock is owned by corporate insiders.

NRG Energy Stock Performance

Shares of NYSE NRG opened at $101.61 on Monday. The stock has a market cap of $20.58 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 1.38 and a beta of 1.10. The stock’s 50-day moving average is $91.65 and its 200 day moving average is $83.73. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57. NRG Energy, Inc. has a 1-year low of $46.74 and a 1-year high of $103.14.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, November 1st. NRG Energy’s dividend payout ratio 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.