Hourglass Capital LLC Boosts Position in NRG Energy, Inc. (NYSE:NRG)

Hourglass Capital LLC increased its stake in NRG Energy, Inc. (NYSE:NRG) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,270 shares of the utilities provider’s stock after buying an additional 1,500 shares during the period. Hourglass Capital LLC’s holdings in NRG Energy were worth $5,308,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new position in NRG Energy during the 3rd quarter worth about $26,000. Covestor Ltd grew its holdings in NRG Energy by 74.7% during the 3rd quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 139 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in NRG Energy during the 3rd quarter worth about $35,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in NRG Energy during the 3rd quarter worth about $36,000. Finally, Rothschild Investment LLC bought a new position in NRG Energy during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insider Activity at NRG Energy

In related 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 value of $8,244,151.05. Following the completion of the transaction, the insider now directly owns 163,680 shares of the company’s stock, valued at $13,151,688. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.86% of the stock is currently owned by insiders.

NRG Energy Stock Performance

Shares of NRG Energy stock opened at $92.48 on Thursday. The firm has a market capitalization of $18.73 billion, a P/E ratio of 23.24, a PEG ratio of 1.35 and a beta of 1.10. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. The company has a 50 day moving average price of $87.92 and a 200 day moving average price of $82.18. NRG Energy, Inc. has a 52 week low of $44.90 and a 52 week high of $102.84.

NRG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Friday, November 1st. NRG Energy’s payout ratio is currently 40.95%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Guggenheim increased 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. BMO Capital Markets increased their target price 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. Citigroup increased their target price on shares of NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com cut shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, Jefferies Financial Group started coverage on shares of NRG Energy in a report on Friday, September 13th. They issued a “hold” rating and a $82.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.