Advisors Asset Management Inc. Has $1.12 Million Stake in NRG Energy, Inc. (NYSE:NRG)

Advisors Asset Management Inc. cut its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 52.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,297 shares of the utilities provider’s stock after selling 13,770 shares during the quarter. Advisors Asset Management Inc.’s holdings in NRG Energy were worth $1,120,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new position in shares of NRG Energy in the third quarter worth approximately $26,000. Covestor Ltd raised its holdings in NRG Energy by 74.7% during the 3rd 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. Rothschild Investment LLC acquired a new position in shares of NRG Energy in the 2nd quarter worth approximately $32,000. First Horizon Advisors Inc. boosted its stake in shares of NRG Energy by 76.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 191 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of NRG Energy during the third quarter worth $35,000. Institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Performance

NYSE NRG opened at $91.92 on Tuesday. 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 fifty day simple moving average of $90.28 and a 200 day simple moving average of $83.25. NRG Energy, Inc. has a 12-month low of $45.46 and a 12-month high of $102.84. The company has a market cap of $18.62 billion, a P/E ratio of 23.10, a PEG ratio of 1.39 and a beta of 1.10.

NRG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Friday, November 1st. NRG Energy’s payout ratio is presently 40.95%.

Insider Buying and Selling

In related news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy 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 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 at this link. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NRG shares. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Citigroup raised their target price on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets boosted their price target on NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a research note on Tuesday, November 19th. Jefferies Financial Group began coverage on shares of NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 price objective for the company. Finally, Wells Fargo & Company increased their target price on shares of NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $98.29.

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.