NRG Energy, Inc. (NYSE:NRG) Stake Lowered by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its position in shares of NRG Energy, Inc. (NYSE:NRG) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,340 shares of the utilities provider’s stock after selling 2,208 shares during the period. MetLife Investment Management LLC owned about 0.06% of NRG Energy worth $10,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Banco Santander S.A. purchased a new stake in shares of NRG Energy during the 2nd quarter worth about $217,671,000. Los Angeles Capital Management LLC raised its position in NRG Energy by 32,962.3% during the third quarter. Los Angeles Capital Management LLC now owns 1,052,705 shares of the utilities provider’s stock valued at $95,901,000 after acquiring an additional 1,049,521 shares in the last quarter. Fred Alger Management LLC acquired a new stake in NRG Energy in the second quarter valued at approximately $53,773,000. Assenagon Asset Management S.A. grew its position in NRG Energy by 65.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock worth $124,318,000 after acquiring an additional 633,765 shares in the last quarter. Finally, Bridgewater Associates LP increased its stake in shares of NRG Energy by 352.9% during the 3rd quarter. Bridgewater Associates LP now owns 804,801 shares of the utilities provider’s stock worth $73,317,000 after purchasing an additional 627,121 shares during the last quarter. Institutional investors and hedge funds own 97.72% of the company’s stock.

Insider Activity

In related 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 transaction, the insider now directly owns 163,680 shares in the company, valued at $13,151,688. The trade was a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.86% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. 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 report on Tuesday. Wells Fargo & Company upped their price target on NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. BMO Capital Markets raised their price objective on NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a research note on Tuesday, November 19th. Citigroup upped their target price on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Guggenheim lifted their price target on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.71.

NRG Energy Trading Down 2.2 %

Shares of NRG Energy stock opened at $98.89 on Friday. The company has a market cap 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 1 year low of $46.23 and a 1 year high of $102.84. The company’s fifty day simple moving average is $91.02 and its 200-day simple moving average is $83.48. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57.

NRG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued 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 payout ratio is 40.95%.

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.