ING Groep NV Sells 124,670 Shares of NRG Energy, Inc. (NYSE:NRG)

ING Groep NV reduced its position in NRG Energy, Inc. (NYSE:NRG) by 81.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 27,601 shares of the utilities provider’s stock after selling 124,670 shares during the period. ING Groep NV’s holdings in NRG Energy were worth $2,514,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Lifeworks Advisors LLC bought a new stake in shares of NRG Energy in the third quarter valued at approximately $202,000. Hourglass Capital LLC grew its stake in NRG Energy by 2.6% in the 3rd quarter. Hourglass Capital LLC now owns 58,270 shares of the utilities provider’s stock valued at $5,308,000 after buying an additional 1,500 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in NRG Energy during the 3rd quarter valued at $431,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of NRG Energy by 1.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 523,758 shares of the utilities provider’s stock worth $47,714,000 after acquiring an additional 8,426 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of NRG Energy in the third quarter worth $280,000. 97.72% of the stock is owned by hedge funds and other institutional investors.

NRG Energy Stock Performance

NYSE NRG opened at $92.19 on Friday. The company has a market capitalization 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. 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, Inc. has a 52-week low of $44.90 and a 52-week high of $102.84. The company has a fifty day moving average of $88.50 and a 200-day moving average of $82.44.

NRG Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 dividend yield of 1.77%. NRG Energy’s dividend payout ratio (DPR) is presently 40.95%.

Insider Activity at NRG Energy

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $80.35, for a total transaction of $8,244,151.05. Following the transaction, the insider now directly owns 163,680 shares in the company, valued at $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 is available at this hyperlink. 0.86% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on NRG shares. Jefferies Financial Group assumed coverage on NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 price objective on the stock. BMO Capital Markets increased their price target on shares of NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Guggenheim upped their target price on shares of NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company raised their price target on shares of NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $97.43.

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.