Fred Alger Management LLC Increases Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

Fred Alger Management LLC boosted its position in shares of NRG Energy, Inc. (NYSE:NRG) by 23.7% during the third quarter, Holdings Channel.com reports. The firm owned 854,463 shares of the utilities provider’s stock after buying an additional 163,830 shares during the quarter. Fred Alger Management LLC’s holdings in NRG Energy were worth $77,842,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NRG. Ashton Thomas Securities LLC purchased a new stake in shares of NRG Energy during the 3rd quarter valued at approximately $26,000. Covestor Ltd increased its stake in 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 acquiring an additional 139 shares during the last quarter. Rothschild Investment LLC purchased a new stake in NRG Energy in the second quarter valued at $32,000. First Horizon Advisors Inc. lifted its stake in shares of NRG Energy by 76.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 191 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of NRG Energy during the 3rd quarter worth $35,000. 97.72% of the stock is currently owned by institutional investors and hedge funds.

NRG Energy Stock Performance

NYSE:NRG opened at $98.89 on Friday. NRG Energy, Inc. has a 52 week low of $46.23 and a 52 week high of $102.84. The company has a fifty day simple moving average of $91.02 and a two-hundred day simple moving average of $83.48. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. The company has a market cap of $20.03 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 1.35 and a beta of 1.10.

NRG Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid 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 1.65%. NRG Energy’s payout ratio is 40.95%.

Insiders Place Their Bets

In other news, insider Rasesh M. Patel sold 102,603 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was 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 directly 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 filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NRG has been the topic of a number of recent analyst reports. Guggenheim upped their target price 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. Wells Fargo & Company upped 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 lifted their target price on shares of NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a report on Tuesday, November 19th. Jefferies Financial Group upgraded NRG Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from $93.00 to $113.00 in a research note on Tuesday. Finally, StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.