Cornercap Investment Counsel Inc. Has $836,000 Position in NRG Energy, Inc. (NYSE:NRG)

Cornercap Investment Counsel Inc. decreased its position in shares of NRG Energy, Inc. (NYSE:NRG) by 33.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,179 shares of the utilities provider’s stock after selling 4,707 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in NRG Energy were worth $836,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in NRG Energy in the third quarter valued at about $26,000. Covestor Ltd lifted its position in shares of NRG Energy by 74.7% in the third quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 139 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of NRG Energy during the 2nd quarter worth about $32,000. First Horizon Advisors Inc. grew its stake in NRG Energy by 76.1% in the second quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 191 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of NRG Energy in the third quarter valued at $35,000. Institutional investors and hedge funds own 97.72% of the company’s stock.

Analysts Set New Price Targets

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

NRG Energy Price Performance

NRG Energy stock opened at $92.19 on Friday. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. NRG Energy, Inc. has a one year low of $44.90 and a one year high of $102.84. The stock’s 50 day moving average is $88.50 and its 200 day moving average is $82.37. The firm 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 Announces Dividend

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

Insiders Place Their Bets

In other news, insider Rasesh M. Patel sold 102,603 shares of the company’s 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 transaction, the insider now directly owns 163,680 shares of the company’s stock, valued at $13,151,688. This represents a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.86% of the company’s stock.

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.