NRG Energy, Inc. (NYSE:NRG) Stock Position Lessened by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. reduced its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 33.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,179 shares of the utilities provider’s stock after selling 4,707 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in NRG Energy were worth $836,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NRG. Banco Santander S.A. bought a new position in NRG Energy during the 2nd quarter valued at $217,671,000. Capitolis Liquid Global Markets LLC raised its position in NRG Energy by 253.2% during the first quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock valued at $119,541,000 after buying an additional 1,266,000 shares during the period. Assenagon Asset Management S.A. lifted its position 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 purchasing an additional 633,765 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of NRG Energy by 32,962.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,052,705 shares of the utilities provider’s stock valued at $95,901,000 after buying an additional 1,049,521 shares during the period. Finally, Zimmer Partners LP purchased a new position in NRG Energy in the first quarter valued at about $64,306,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Stock Up 0.6 %

NYSE:NRG opened at $92.19 on Friday. The stock’s fifty day moving average price is $88.50 and its two-hundred day moving average price is $82.37. The company has a market cap of $18.67 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 1.35 and a beta of 1.10. NRG Energy, Inc. has a 52-week low of $44.90 and a 52-week 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 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 issued a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, November 1st. NRG Energy’s dividend payout ratio is 40.95%.

Analysts Set New Price Targets

NRG has been the topic of several recent research reports. StockNews.com lowered NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. BMO Capital Markets increased their price target 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. Wells Fargo & Company boosted their price objective on NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Guggenheim increased their price target on shares of NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Citigroup lifted their price objective on 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.43.

Insider Buying and Selling

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the firm’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 transaction, the insider now directly owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. This trade represents a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.86% of the company’s stock.

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.