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

Pitcairn Co. trimmed its position in NRG Energy, Inc. (NYSE:NRG) by 18.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,919 shares of the utilities provider’s stock after selling 666 shares during the period. Pitcairn Co.’s holdings in NRG Energy were worth $266,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased its stake in shares of NRG Energy by 24.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 22,761 shares of the utilities provider’s stock valued at $1,541,000 after purchasing an additional 4,421 shares in the last quarter. Tidal Investments LLC raised its stake in NRG Energy by 35.6% during the first quarter. Tidal Investments LLC now owns 29,321 shares of the utilities provider’s stock valued at $1,985,000 after buying an additional 7,705 shares during the last quarter. Virtu Financial LLC bought a new stake in NRG Energy in the first quarter worth $349,000. Cetera Investment Advisers grew its stake in shares of NRG Energy by 104.5% in the first quarter. Cetera Investment Advisers now owns 73,865 shares of the utilities provider’s stock worth $5,000,000 after acquiring an additional 37,750 shares during the last quarter. Finally, Cetera Advisors LLC increased its holdings in shares of NRG Energy by 106.9% during the first quarter. Cetera Advisors LLC now owns 14,908 shares of the utilities provider’s stock valued at $1,009,000 after acquiring an additional 7,704 shares in the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insider Transactions at NRG Energy

In other news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now owns 163,680 shares of the company’s stock, valued at $13,151,688. The trade was a 38.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.61% of the company’s stock.

NRG Energy Stock Performance

Shares of NRG opened at $98.89 on Thursday. NRG Energy, Inc. has a one year low of $46.23 and a one year high of $102.84. The business has a fifty day moving average of $90.68 and a 200 day moving average of $83.37. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. The firm has a market capitalization 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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NRG. BMO Capital Markets increased their price objective 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. Citigroup boosted their price objective on shares of NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Guggenheim lifted their target price on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company upped their price target on NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.