Retirement Systems of Alabama lessened its stake in NRG Energy Inc (NYSE:NRG) by 55.8% in the 3rd quarter, Holdings Channel reports. The firm owned 139,929 shares of the utilities provider’s stock after selling 176,792 shares during the period. Retirement Systems of Alabama’s holdings in NRG Energy were worth $5,233,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of NRG Energy by 29.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,442 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 1,898 shares during the period. Principal Financial Group Inc. boosted its stake in shares of NRG Energy by 2.6% during the first quarter. Principal Financial Group Inc. now owns 470,068 shares of the utilities provider’s stock valued at $14,351,000 after purchasing an additional 11,805 shares during the period. Allianz Asset Management GmbH boosted 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 purchasing an additional 32,447 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of NRG Energy by 3.7% during the second quarter. State of Alaska Department of Revenue now owns 51,390 shares of the utilities provider’s stock valued at $1,576,000 after purchasing an additional 1,840 shares during the period. Finally, Guidant Wealth Advisors boosted its stake in shares of NRG Energy by 9,972.7% during the second quarter. Guidant Wealth Advisors now owns 2,216 shares of the utilities provider’s stock valued at $109,000 after purchasing an additional 2,194 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.
NRG stock opened at $38.30 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.30 and a debt-to-equity ratio of 7.16. The stock has a market capitalization of $11.35 billion, a P/E ratio of 35.14 and a beta of 0.99. NRG Energy Inc has a 1-year low of $23.75 and a 1-year high of $38.38.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be issued a $0.03 dividend. The ex-dividend date is Wednesday, October 31st. This represents a $0.12 annualized dividend and a dividend yield of 0.31%. NRG Energy’s payout ratio is currently 11.01%.
A number of analysts have recently issued reports on NRG shares. Zacks Investment Research raised shares of NRG Energy from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research note on Monday, July 9th. Bank of America lowered their target price on shares of NRG Energy from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, July 25th. Citigroup downgraded NRG Energy from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a report on Monday, July 30th. Macquarie lifted their price objective on NRG Energy from $40.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, September 20th. Finally, ValuEngine upgraded NRG Energy from a “hold” rating to a “buy” rating in a report on Saturday, October 6th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. NRG Energy currently has an average rating of “Buy” and an average target price of $38.17.
In related news, EVP Christopher Moser sold 43,975 shares of NRG Energy stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $35.11, for a total value of $1,543,962.25. Following the completion of the sale, the executive vice president now directly owns 61,075 shares in the company, valued at $2,144,343.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth R. Killinger sold 24,600 shares of NRG Energy stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $35.84, for a total value of $881,664.00. Following the completion of the sale, the executive vice president now owns 106,125 shares of the company’s stock, valued at $3,803,520. The disclosure for this sale can be found here. Insiders sold 83,775 shares of company stock valued at $2,959,754 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.
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NRG Energy Profile
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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