Pitcairn Co. Trims Holdings in NRG Energy, Inc. (NYSE:NRG)

Pitcairn Co. reduced its position in NRG Energy, Inc. (NYSE:NRG) by 18.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,919 shares of the utilities provider’s stock after selling 666 shares during the quarter. Pitcairn Co.’s holdings in NRG Energy were worth $266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in NRG Energy in the 3rd quarter worth approximately $26,000. Covestor Ltd raised its position in shares of NRG Energy by 74.7% during the third quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock valued at $30,000 after buying an additional 139 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of NRG Energy in the second quarter worth $32,000. First Horizon Advisors Inc. boosted its position in shares of NRG Energy by 76.1% during the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 191 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of NRG Energy during the third quarter valued at about $35,000. 97.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on NRG. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. BMO Capital Markets raised their target price on shares of NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a report on Tuesday, November 19th. Wells Fargo & Company upped their target price on shares of NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Guggenheim lifted their price target on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Jefferies Financial Group upgraded NRG Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $93.00 to $113.00 in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.71.

NRG Energy Price Performance

NRG opened at $98.89 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. The business has a fifty day moving average of $90.68 and a 200 day moving average of $83.37. NRG Energy, Inc. has a 52-week low of $46.23 and a 52-week high of $102.84. The stock has a market cap of $20.03 billion, a P/E ratio of 24.85, a PEG ratio of 1.34 and a beta of 1.10.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Friday, November 1st. NRG Energy’s payout ratio is presently 40.95%.

Insider Activity at NRG Energy

In related news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $13,151,688. This 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 through the SEC website. 0.61% of the stock is currently owned by company insiders.

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.