The Manufacturers Life Insurance Company Sells 30,527 Shares of NRG Energy, Inc. (NYSE:NRG)

The Manufacturers Life Insurance Company reduced its position in shares of NRG Energy, Inc. (NYSE:NRG) by 15.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 170,315 shares of the utilities provider’s stock after selling 30,527 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in NRG Energy were worth $15,516,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NRG. Cetera Investment Advisers grew its holdings in shares of NRG Energy by 104.5% during the first quarter. Cetera Investment Advisers now owns 73,865 shares of the utilities provider’s stock valued at $5,000,000 after buying an additional 37,750 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in 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 acquiring an additional 633,765 shares in the last quarter. Bank of Hawaii increased its holdings in shares of NRG Energy by 95.5% in the 3rd quarter. Bank of Hawaii now owns 15,685 shares of the utilities provider’s stock worth $1,429,000 after purchasing an additional 7,662 shares in the last quarter. Friedenthal Financial purchased a new position in shares of NRG Energy in the second quarter worth $746,000. Finally, Intech Investment Management LLC raised its stake in shares of NRG Energy by 169.3% in the third quarter. Intech Investment Management LLC now owns 263,904 shares of the utilities provider’s stock worth $24,042,000 after purchasing an additional 165,912 shares during the last quarter. 97.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NRG has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Citigroup boosted their price objective on shares of NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Guggenheim increased their price objective 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. StockNews.com downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, BMO Capital Markets increased their price target on NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, NRG Energy presently has an average rating of “Moderate Buy” and an average target price of $102.71.

Insider Buying and Selling at NRG Energy

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the company’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 completion of the transaction, the insider now directly owns 163,680 shares in the company, valued at $13,151,688. This represents a 38.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

NRG Energy Trading Up 2.8 %

Shares of NRG Energy stock opened at $101.61 on Monday. NRG Energy, Inc. has a 1-year low of $46.74 and a 1-year high of $103.14. The company’s fifty day simple moving average is $91.65 and its 200-day simple moving average is $83.73. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. The stock has a market capitalization of $20.58 billion, a PE ratio of 25.53, a P/E/G ratio of 1.38 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 given a dividend of $0.4075 per share. The ex-dividend date was Friday, November 1st. This represents a $1.63 annualized dividend and a yield of 1.60%. NRG Energy’s dividend payout ratio (DPR) is presently 40.95%.

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.