Hourglass Capital LLC Boosts Position in NRG Energy, Inc. (NYSE:NRG)

Hourglass Capital LLC boosted its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 2.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 58,270 shares of the utilities provider’s stock after purchasing an additional 1,500 shares during the quarter. Hourglass Capital LLC’s holdings in NRG Energy were worth $5,308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Quadrature Capital Ltd increased its holdings in shares of NRG Energy by 148.6% during the 1st quarter. Quadrature Capital Ltd now owns 21,814 shares of the utilities provider’s stock valued at $1,477,000 after purchasing an additional 13,040 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of NRG Energy by 104.5% during the 1st quarter. Cetera Investment Advisers now owns 73,865 shares of the utilities provider’s stock valued at $5,000,000 after purchasing an additional 37,750 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of 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 valued at $124,318,000 after purchasing an additional 633,765 shares in the last quarter. Friedenthal Financial purchased a new position in shares of NRG Energy during the 2nd quarter valued at approximately $746,000. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of NRG Energy by 2.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 288,619 shares of the utilities provider’s stock valued at $19,537,000 after purchasing an additional 7,880 shares in the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Trading Down 0.2 %

Shares of NRG opened at $92.48 on Thursday. NRG Energy, Inc. has a 52-week low of $44.90 and a 52-week high of $102.84. 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 firm’s fifty day moving average is $87.92 and its two-hundred day moving average is $82.18. The stock has a market cap of $18.73 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 1.35 and a beta of 1.10.

NRG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.4075 per share. The ex-dividend date is Friday, November 1st. This represents a $1.63 annualized dividend and a yield of 1.76%. NRG Energy’s dividend payout ratio (DPR) is presently 40.95%.

Wall Street Analysts Forecast Growth

NRG has been the subject of several recent research reports. Guggenheim lifted 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. BMO Capital Markets lifted their price target on shares of NRG Energy from $90.00 to $94.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Wells Fargo & Company lifted their price target on shares of NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday. StockNews.com cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, Jefferies Financial Group initiated coverage on shares of NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, NRG Energy currently has a consensus rating of “Hold” and a consensus price target of $97.43.

Insiders Place Their Bets

In other news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were 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 approximately $13,151,688. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.86% of the stock is currently owned by corporate insiders.

About NRG Energy

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.