OVERSEA CHINESE BANKING Corp Ltd Takes Position in NRG Energy, Inc. (NYSE:NRG)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of NRG Energy, Inc. (NYSE:NRG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,069 shares of the utilities provider’s stock, valued at approximately $280,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of NRG Energy during the 3rd quarter valued at $26,000. Covestor Ltd lifted its holdings in NRG Energy by 74.7% in the third quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 139 shares during the period. Harbor Capital Advisors Inc. purchased a new position in NRG Energy in the third quarter worth about $35,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of NRG Energy during the 3rd quarter valued at about $36,000. Finally, Rothschild Investment LLC purchased a new stake in shares of NRG Energy during the 2nd quarter valued at about $32,000. Institutional investors own 97.72% of the company’s stock.

Insiders Place Their Bets

In other news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy stock in a transaction that occurred 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 $13,151,688. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.86% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports 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. Guggenheim boosted their price objective 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. Citigroup raised their target price on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets boosted their price target on NRG Energy from $90.00 to $94.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company raised their price objective on NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $97.43.

NRG Energy Price Performance

NYSE:NRG opened at $92.48 on Thursday. The business’s 50-day simple moving average is $87.92 and its two-hundred day simple moving average is $82.18. NRG Energy, Inc. has a 52 week low of $44.90 and a 52 week high of $102.84. The stock has a market cap of $18.73 billion, a PE ratio of 23.24, a P/E/G ratio of 1.35 and a beta of 1.10. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57.

NRG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Friday, November 1st. NRG Energy’s dividend payout ratio (DPR) is presently 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.