Spirit of America Management Corp NY lifted its holdings in shares of NRG Energy, Inc. (NYSE:NRG – Free Report) by 100.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,000 shares of the utilities provider’s stock after purchasing an additional 500 shares during the quarter. Spirit of America Management Corp NY’s holdings in NRG Energy were worth $91,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of NRG Energy by 885.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 237,444 shares of the utilities provider’s stock worth $16,073,000 after purchasing an additional 213,347 shares during the last quarter. Quadrature Capital Ltd boosted 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 worth $1,477,000 after purchasing an additional 13,040 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of NRG Energy by 104.5% during the first quarter. Cetera Investment Advisers now owns 73,865 shares of the utilities provider’s stock worth $5,000,000 after purchasing an additional 37,750 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of NRG Energy by 65.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock worth $124,318,000 after purchasing an additional 633,765 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of NRG Energy during the second quarter worth $746,000. Institutional investors and hedge funds own 97.72% of the company’s stock.
NRG Energy Trading Down 2.0 %
Shares of NRG opened at $87.52 on Friday. The stock’s 50-day moving average is $85.63 and its two-hundred day moving average is $80.43. The stock has a market cap of $18.25 billion, a PE ratio of 12.40 and a beta of 1.10. NRG Energy, Inc. has a 12 month low of $41.49 and a 12 month high of $96.40. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.18 and a quick ratio of 1.11.
NRG Energy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, November 1st. NRG Energy’s dividend payout ratio (DPR) is 23.09%.
Insider Buying and Selling
In related news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $80.35, for a total value of $8,244,151.05. Following the transaction, the insider now owns 163,680 shares in the company, valued at approximately $13,151,688. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.86% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on NRG Energy from $88.00 to $90.00 and gave the stock a “market perform” rating in a report on Monday, September 30th. Wells Fargo & Company lifted their target price on NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Guggenheim lifted their target price on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, Jefferies Financial Group initiated coverage on NRG Energy in a report on Friday, September 13th. They issued a “hold” rating and a $82.00 target price on the stock. Six equities 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 company currently has a consensus rating of “Hold” and an average target price of $83.25.
Get Our Latest Research Report on NRG
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.
Featured Stories
- Five stocks we like better than NRG Energy
- Using the MarketBeat Dividend Tax Calculator
- Texas Roadhouse Stock Steering for New Highs This Year
- P/E Ratio Calculation: How to Assess Stocks
- Monopar Therapeutics Skyrockets 400% on Licensing Deal
- Market Cap Calculator: How to Calculate Market Cap
- Tractor Supply Stock Pulls Back: A Prime Buying Opportunity
Want to see what other hedge funds are holding NRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NRG Energy, Inc. (NYSE:NRG – Free Report).
Receive News & Ratings for NRG Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NRG Energy and related companies with MarketBeat.com's FREE daily email newsletter.