NRG Energy, Inc. (NYSE:NRG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 93.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 888,117 shares of the utilities provider’s stock after selling 13,197,346 shares during the quarter. Victory Capital Management Inc.’s holdings in NRG Energy were worth $80,907,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. boosted its position in NRG Energy by 1.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 523,758 shares of the utilities provider’s stock worth $47,714,000 after acquiring an additional 8,426 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in NRG Energy during the third quarter worth about $280,000. Ashton Thomas Securities LLC acquired a new position in NRG Energy during the third quarter worth about $26,000. Los Angeles Capital Management LLC boosted 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 worth $95,901,000 after acquiring an additional 1,049,521 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in NRG Energy by 124.7% during the third quarter. Crossmark Global Holdings Inc. now owns 19,429 shares of the utilities provider’s stock worth $1,770,000 after acquiring an additional 10,782 shares during the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NRG. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Wells Fargo & Company boosted their target price on shares of NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Monday. Guggenheim boosted their target price on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. BMO Capital Markets boosted their target price on shares of NRG Energy from $90.00 to $94.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, Citigroup boosted their target price on shares of NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, NRG Energy has an average rating of “Hold” and a consensus price target of $97.43.

NRG Energy Price Performance

NRG Energy stock opened at $92.48 on Thursday. The company’s 50 day simple moving average is $87.92 and its 200-day simple moving average is $82.18. The company has a market capitalization of $18.73 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 1.35 and a beta of 1.10. NRG Energy, Inc. has a 1 year low of $44.90 and a 1 year high of $102.84. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Friday, November 1st. NRG Energy’s dividend payout ratio (DPR) is 40.95%.

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.