Redwood Investment Management LLC Has $1.69 Million Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

Redwood Investment Management LLC raised its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,486 shares of the utilities provider’s stock after purchasing an additional 714 shares during the period. Redwood Investment Management LLC’s holdings in NRG Energy were worth $1,686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Castle Rock Wealth Management LLC grew its holdings in NRG Energy by 3.5% during 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 during the last quarter. Park Avenue Securities LLC boosted its position in shares of NRG Energy by 2.8% in the third quarter. Park Avenue Securities LLC now owns 4,910 shares of the utilities provider’s stock valued at $447,000 after acquiring an additional 134 shares during the period. Covestor Ltd boosted its position in shares of NRG Energy by 74.7% in the third quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 139 shares during the period. Asahi Life Asset Management CO. LTD. boosted its position 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 valued at $403,000 after acquiring an additional 150 shares during the period. 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 and hedge funds own 97.72% of the company’s stock.

Insider Activity at NRG Energy

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the company’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 owns 163,680 shares in the company, valued at approximately $13,151,688. This 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 the SEC website. 0.86% of the stock is owned by company insiders.

NRG Energy Price Performance

NYSE:NRG opened at $101.28 on Friday. The firm has a market capitalization of $20.52 billion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 1.35 and a beta of 1.12. NRG Energy, Inc. has a 52-week low of $47.22 and a 52-week high of $103.14. The stock has a fifty day moving average of $92.34 and a 200 day moving average of $84.08. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, November 1st. NRG Energy’s dividend payout ratio (DPR) is presently 40.95%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Guggenheim raised their target price on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. BMO Capital Markets lifted their price objective on NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a report on Tuesday, November 19th. Jefferies Financial Group upgraded NRG Energy from a “hold” rating to a “buy” rating and boosted their target price for the company from $93.00 to $113.00 in a research note on Tuesday, November 26th. Finally, Citigroup boosted their price target on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, NRG Energy presently has an average rating of “Moderate Buy” and an average target price of $102.71.

About NRG Energy

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.