Peapack Gladstone Financial Corp Lowers Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

Peapack Gladstone Financial Corp reduced its position in NRG Energy, Inc. (NYSE:NRG) by 7.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,454 shares of the utilities provider’s stock after selling 800 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in NRG Energy were worth $861,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in NRG Energy during the 3rd quarter worth about $26,000. Covestor Ltd grew its position in shares of NRG Energy by 74.7% during the third quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock worth $30,000 after buying an additional 139 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of NRG Energy during the second quarter worth approximately $32,000. First Horizon Advisors Inc. raised its holdings in NRG Energy by 76.1% in the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 191 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in NRG Energy in the third quarter worth approximately $35,000. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

NRG Energy Trading Down 0.2 %

Shares of NRG opened at $94.98 on Monday. NRG Energy, Inc. has a twelve month low of $47.88 and a twelve month high of $103.14. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57. The firm has a market capitalization of $19.24 billion, a P/E ratio of 23.86, a PEG ratio of 1.30 and a beta of 1.12. The firm’s 50-day moving average is $92.91 and its two-hundred day moving average is $84.74.

NRG Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Friday, November 1st. NRG Energy’s payout ratio is currently 40.95%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Guggenheim increased their target price on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company raised their target price on NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Jefferies Financial Group raised NRG Energy from a “hold” rating to a “buy” rating and upped their price target for the company from $93.00 to $113.00 in a report on Tuesday, November 26th. Citigroup increased 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. Finally, StockNews.com downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.71.

NRG Energy Company 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.