Bank of The West Has $3.86 Million Holdings in NRG Energy Inc (NRG)

Bank of The West boosted its stake in NRG Energy Inc (NYSE:NRG) by 34.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,289 shares of the utilities provider’s stock after purchasing an additional 26,266 shares during the period. Bank of The West’s holdings in NRG Energy were worth $3,863,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Bowling Portfolio Management LLC purchased a new position in shares of NRG Energy during the second quarter valued at approximately $1,099,000. Zacks Investment Management purchased a new position in shares of NRG Energy during the second quarter valued at approximately $1,006,000. MUFG Securities EMEA plc purchased a new position in shares of NRG Energy during the second quarter valued at approximately $10,553,000. Covalis Capital LLP purchased a new position in shares of NRG Energy during the second quarter valued at approximately $3,274,000. Finally, Allianz Asset Management GmbH increased its stake in shares of NRG Energy by 202.6% during the first quarter. Allianz Asset Management GmbH now owns 48,461 shares of the utilities provider’s stock valued at $1,480,000 after buying an additional 32,447 shares during the period. 98.24% of the stock is currently owned by institutional investors and hedge funds.

NYSE NRG opened at $38.30 on Tuesday. The company has a debt-to-equity ratio of 7.16, a quick ratio of 1.17 and a current ratio of 1.30. NRG Energy Inc has a twelve month low of $23.75 and a twelve month high of $38.38. The company has a market cap of $11.35 billion, a P/E ratio of 35.14 and a beta of 0.99.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $0.12 annualized dividend and a dividend yield of 0.31%. NRG Energy’s dividend payout ratio is presently 11.01%.

In related news, EVP Christopher Moser sold 15,200 shares of NRG Energy stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $35.14, for a total transaction of $534,128.00. Following the sale, the executive vice president now directly owns 115,650 shares in the company, valued at $4,063,941. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth R. Killinger sold 24,600 shares of NRG Energy stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $35.84, for a total value of $881,664.00. Following the sale, the executive vice president now owns 106,125 shares in the company, valued at $3,803,520. The disclosure for this sale can be found here. Insiders have sold 83,775 shares of company stock worth $2,959,754 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Several equities analysts have recently issued reports on NRG shares. Zacks Investment Research cut NRG Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 18th. ValuEngine raised NRG Energy from a “hold” rating to a “buy” rating in a research note on Saturday, October 6th. Bank of America boosted their target price on NRG Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, September 27th. Macquarie boosted their target price on NRG Energy from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, September 20th. Finally, Citigroup cut NRG Energy from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research note on Monday, July 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. NRG Energy currently has a consensus rating of “Buy” and an average target price of $38.17.

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About NRG Energy

NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. The company is involved in the generation of electricity using fossil fuel and nuclear sources. The company provides electricity to 2.9 million residential, commercial, and industrial consumers; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; and carbon management and specialty services.

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Institutional Ownership by Quarter for NRG Energy (NYSE:NRG)

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