Avestar Capital LLC Purchases New Position in NRG Energy, Inc. (NYSE:NRG)

Avestar Capital LLC bought a new position in shares of NRG Energy, Inc. (NYSE:NRG) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,908 shares of the utilities provider’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Banco Santander S.A. raised its position in shares of NRG Energy by 0.9% during the third quarter. Banco Santander S.A. now owns 2,820,500 shares of the utilities provider’s stock worth $256,948,000 after acquiring an additional 24,834 shares during the last quarter. Assenagon Asset Management S.A. lifted its position 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 valued at $124,318,000 after purchasing an additional 633,765 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of NRG Energy by 32,962.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,052,705 shares of the utilities provider’s stock valued at $95,901,000 after purchasing an additional 1,049,521 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in shares of NRG Energy by 114.3% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 837,461 shares of the utilities provider’s stock valued at $65,205,000 after purchasing an additional 446,743 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in shares of NRG Energy by 109.2% in the 3rd quarter. Assetmark Inc. now owns 746,994 shares of the utilities provider’s stock valued at $68,051,000 after purchasing an additional 389,997 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insider Transactions at NRG Energy

In related news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. This trade represents a 38.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.86% of the company’s stock.

NRG Energy Price Performance

Shares of NRG opened at $98.89 on Thursday. The stock has a market capitalization of $20.03 billion, a P/E ratio of 24.85, a P/E/G ratio of 1.34 and a beta of 1.10. NRG Energy, Inc. has a twelve month low of $46.23 and a twelve month high of $102.84. The company has a 50 day moving average of $90.68 and a 200-day moving average of $83.37. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57.

NRG Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NRG shares. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. 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. Citigroup raised their target price on shares of NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. BMO Capital Markets increased their price target on shares of NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a research report on Tuesday, November 19th. Finally, Jefferies Financial Group upgraded shares of 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 research report on Tuesday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NRG Energy has an average rating of “Moderate Buy” and an average price target of $102.71.

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.