Rockefeller Capital Management L.P. Raises Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

Rockefeller Capital Management L.P. grew its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 275.2% during the third quarter, Holdings Channel reports. The institutional investor owned 40,404 shares of the utilities provider’s stock after buying an additional 29,636 shares during the period. Rockefeller Capital Management L.P.’s holdings in NRG Energy were worth $3,676,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new position in shares of NRG Energy in the third quarter worth about $26,000. Covestor Ltd lifted its holdings in NRG Energy by 74.7% in the 3rd quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 139 shares in the last quarter. Rothschild Investment LLC bought a new position in NRG Energy in the 2nd quarter worth approximately $32,000. First Horizon Advisors Inc. grew its holdings in NRG Energy by 76.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after buying an additional 191 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of NRG Energy during the third quarter valued at approximately $35,000. 97.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $80.35, for a total value of $8,244,151.05. Following the completion of the sale, the insider now owns 163,680 shares of the company’s stock, valued at $13,151,688. This trade represents a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.86% of the stock is owned by corporate insiders.

NRG Energy Stock Performance

NYSE:NRG opened at $101.28 on Friday. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17. The stock’s fifty day moving average is $92.34 and its 200 day moving average is $84.08. The firm has a market capitalization of $20.52 billion, a PE ratio of 25.37, a PEG ratio of 1.35 and a beta of 1.12. NRG Energy, Inc. has a fifty-two week low of $47.22 and a fifty-two week high of $103.14.

NRG Energy Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Jefferies Financial Group raised NRG Energy from a “hold” rating to a “buy” rating and lifted their target price for the stock from $93.00 to $113.00 in a report on Tuesday, November 26th. BMO Capital Markets increased 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. Citigroup lifted their price objective on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Guggenheim raised their target price on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. 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 currently has an average rating of “Moderate Buy” and an average target price of $102.71.

NRG Energy Company 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.