Wellington Management Group LLP Trims Stake in NRG Energy, Inc. (NYSE:NRG)

Wellington Management Group LLP trimmed its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 35.1% in the third quarter, Holdings Channel reports. The fund owned 219,653 shares of the utilities provider’s stock after selling 118,761 shares during the period. Wellington Management Group LLP’s holdings in NRG Energy were worth $20,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new stake in shares of NRG Energy in the 3rd quarter valued at approximately $26,000. Covestor Ltd raised its holdings in NRG Energy by 74.7% during the third quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 139 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in NRG Energy during the third quarter worth $35,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in NRG Energy during the third quarter worth $36,000. Finally, Rothschild Investment LLC purchased a new position in NRG Energy during the second quarter worth $32,000. 97.72% of the stock is owned by institutional investors and hedge funds.

NRG Energy Trading Down 0.2 %

NYSE NRG opened at $94.98 on Friday. NRG Energy, Inc. has a 1-year low of $47.88 and a 1-year high of $103.14. 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 company has a market capitalization of $19.24 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.30 and a beta of 1.12. The firm’s fifty day simple moving average is $92.91 and its 200-day simple moving average is $84.73.

NRG Energy Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Guggenheim boosted their price objective on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. 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, November 19th. StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, Jefferies Financial Group upgraded NRG Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from $93.00 to $113.00 in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently 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.