Brooklyn Investment Group Buys New Stake in NRG Energy, Inc. (NYSE:NRG)

Brooklyn Investment Group purchased a new position in NRG Energy, Inc. (NYSE:NRG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 506 shares of the utilities provider’s stock, valued at approximately $46,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers raised its holdings 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 buying an additional 37,750 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of 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 buying an additional 633,765 shares during the last quarter. Friedenthal Financial purchased a new position in shares of NRG Energy in the second quarter worth $746,000. Bank of Hawaii raised its holdings in shares of NRG Energy by 95.5% in the third quarter. Bank of Hawaii now owns 15,685 shares of the utilities provider’s stock worth $1,429,000 after buying an additional 7,662 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of NRG Energy by 169.3% in the third quarter. Intech Investment Management LLC now owns 263,904 shares of the utilities provider’s stock worth $24,042,000 after buying an additional 165,912 shares during the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insider Activity at NRG Energy

In related news, insider Rasesh M. Patel sold 102,603 shares of the firm’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 sale, the insider now owns 163,680 shares in the company, valued at approximately $13,151,688. This trade represents a 38.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NRG shares. Wells Fargo & Company raised their price target on shares of NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Guggenheim increased their price objective on shares of NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Citigroup increased their price objective on shares of NRG Energy from $84.00 to $100.00 and gave the stock 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 increased their price objective for the stock from $93.00 to $113.00 in a research note on Tuesday. Finally, BMO Capital Markets increased their price objective on shares of NRG Energy from $94.00 to $100.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 19th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.71.

NRG Energy Stock Up 2.8 %

NRG stock opened at $101.61 on Friday. The firm has a market cap of $20.58 billion, a PE ratio of 25.53, a P/E/G ratio of 1.35 and a beta of 1.10. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17. The firm’s fifty day moving average is $91.36 and its 200 day moving average is $83.59. NRG Energy, Inc. has a one year low of $46.74 and a one year high of $103.14.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given 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 yield of 1.60%. NRG Energy’s dividend payout ratio is presently 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.