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

Advisors Asset Management Inc. cut its stake in NRG Energy, Inc. (NYSE:NRG) by 52.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NRG. Cetera Investment Advisers lifted its position in 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 acquiring an additional 37,750 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in NRG Energy by 65.8% during the 2nd 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. Friedenthal Financial bought a new stake in NRG Energy in the 2nd quarter valued at $746,000. NatWest Group plc increased its position in NRG Energy by 9.1% during the 3rd quarter. NatWest Group plc now owns 79,202 shares of the utilities provider’s stock worth $7,215,000 after buying an additional 6,618 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of NRG Energy by 17.7% in the third quarter. Principal Financial Group Inc. now owns 458,811 shares of the utilities provider’s stock valued at $41,800,000 after acquiring an additional 69,047 shares during the period. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Stock Down 3.7 %

Shares of NYSE NRG opened at $91.92 on Tuesday. The stock has a 50-day moving average price of $90.28 and a two-hundred day moving average price 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 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 cap of $18.62 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.39 and a beta of 1.10.

NRG Energy Dividend Announcement

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

Insider Transactions at NRG Energy

In other 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 transaction of $8,244,151.05. Following the sale, the insider now directly owns 163,680 shares in the company, valued at approximately $13,151,688. The trade was a 38.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NRG shares. BMO Capital Markets raised their target price on shares of NRG Energy from $94.00 to $100.00 and gave the stock a “market perform” rating in a report on Tuesday, November 19th. Citigroup lifted their price objective on NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Guggenheim increased 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. Wells Fargo & Company boosted their price target on NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group initiated coverage on shares of NRG Energy in a research note on Friday, September 13th. They set a “hold” rating and a $82.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock 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.