Janney Montgomery Scott LLC Purchases 2,385 Shares of NRG Energy, Inc. (NYSE:NRG)

Janney Montgomery Scott LLC increased its position in NRG Energy, Inc. (NYSE:NRG) by 32.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,765 shares of the utilities provider’s stock after acquiring an additional 2,385 shares during the quarter. Janney Montgomery Scott LLC’s holdings in NRG Energy were worth $890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Banco Santander S.A. bought a new position in NRG Energy in the second quarter worth approximately $217,671,000. Capitolis Liquid Global Markets LLC lifted 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 purchasing an additional 1,266,000 shares in the last quarter. Zimmer Partners LP bought a new stake in NRG Energy during the first quarter valued at about $64,306,000. Fred Alger Management LLC purchased a new stake in NRG Energy in the second quarter worth about $53,773,000. Finally, Assenagon Asset Management S.A. raised its stake 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 buying an additional 633,765 shares during the period. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on NRG Energy from $90.00 to $94.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Guggenheim increased their price objective on shares of NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. StockNews.com cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Jefferies Financial Group initiated coverage on shares of NRG Energy in a report on Friday, September 13th. They issued a “hold” rating and a $82.00 target price for the company. Finally, Citigroup raised their price target on NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $97.43.

NRG Energy Stock Performance

Shares of NYSE NRG opened at $92.19 on Friday. The company has a market cap of $18.67 billion, a P/E 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. The firm’s fifty day moving average is $88.50 and its two-hundred day moving average is $82.44.

NRG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.4075 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.63 annualized dividend and a dividend yield of 1.77%. NRG Energy’s dividend payout ratio (DPR) is 40.95%.

Insider Buying and Selling

In other news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $13,151,688. This represents a 38.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is owned by company insiders.

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.