Kentucky Retirement Systems Reduces Holdings in NRG Energy, Inc. (NYSE:NRG)

Kentucky Retirement Systems cut its position in NRG Energy, Inc. (NYSE:NRG) by 8.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,378 shares of the utilities provider’s stock after selling 1,332 shares during the quarter. Kentucky Retirement Systems’ holdings in NRG Energy were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Banco Santander S.A. purchased a new position in NRG Energy in the 2nd quarter valued at about $217,671,000. Los Angeles Capital Management LLC boosted its holdings in NRG Energy by 32,962.3% in the third quarter. Los Angeles Capital Management LLC now owns 1,052,705 shares of the utilities provider’s stock valued at $95,901,000 after purchasing an additional 1,049,521 shares during the last quarter. Zimmer Partners LP acquired a new stake in NRG Energy during the 1st quarter valued at approximately $64,306,000. Fred Alger Management LLC purchased a new stake in NRG Energy during the 2nd quarter worth approximately $53,773,000. Finally, Assenagon Asset Management S.A. raised its position in shares of NRG Energy by 65.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock valued at $124,318,000 after purchasing an additional 633,765 shares in the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

NRG Energy Stock Performance

Shares of NYSE NRG opened at $93.23 on Tuesday. The stock has a market capitalization of $18.89 billion, a P/E ratio of 23.42, a P/E/G ratio of 1.34 and a beta of 1.10. The firm’s 50-day moving average price is $88.81 and its two-hundred day moving average price is $82.63. NRG Energy, Inc. has a 52-week low of $44.90 and a 52-week high of $102.84. 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 business also recently disclosed 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 was Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a yield of 1.75%. NRG Energy’s dividend payout ratio is currently 40.95%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NRG. Citigroup raised their price target on shares of NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company raised their price objective 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. BMO Capital Markets upped their target price on shares of NRG Energy from $90.00 to $94.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Guggenheim lifted their price target on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group assumed coverage on NRG Energy in a research note on Friday, September 13th. They set a “hold” rating and a $82.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NRG Energy presently has a consensus rating of “Hold” and an average price target of $97.43.

Insider Buying and Selling

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 transaction, the insider now owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. The trade was a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by company insiders.

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.