NRG Energy, Inc. (NYSE:NRG) Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC raised its stake in NRG Energy, Inc. (NYSE:NRG) by 23.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 854,463 shares of the utilities provider’s stock after acquiring an additional 163,830 shares during the quarter. Fred Alger Management LLC owned approximately 0.42% of NRG Energy worth $77,842,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of NRG Energy in the 3rd quarter valued at $26,000. Covestor Ltd raised its position in shares of NRG Energy by 74.7% in the third quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 139 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of NRG Energy in the third quarter worth about $35,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of NRG Energy during the 3rd quarter valued at about $36,000. Finally, Rothschild Investment LLC purchased a new position in shares of NRG Energy in the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Wall Street Analyst Weigh In

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

NRG Energy Price Performance

NRG Energy stock opened at $98.89 on Friday. The company has a fifty day simple moving average of $91.02 and a 200-day simple moving average of $83.48. 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 has a market capitalization of $20.03 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.35 and a beta of 1.10. NRG Energy, Inc. has a 52-week low of $46.23 and a 52-week high of $102.84.

NRG Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders 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 dividend on an annualized basis and a yield of 1.65%. NRG Energy’s payout ratio is 40.95%.

Insiders Place Their Bets

In other news, insider Rasesh M. Patel sold 102,603 shares of the company’s 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 completion of the sale, the insider now directly owns 163,680 shares in the company, valued at $13,151,688. This represents a 38.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.86% of the company’s stock.

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.