Lifeworks Advisors LLC Makes New Investment in NRG Energy, Inc. (NYSE:NRG)

Lifeworks Advisors LLC bought a new stake in shares of NRG Energy, Inc. (NYSE:NRG) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 2,221 shares of the utilities provider’s stock, valued at approximately $202,000.

A number of other institutional investors have also recently made changes to their positions in NRG. Quadrature Capital Ltd boosted its stake in NRG Energy by 148.6% during the first quarter. Quadrature Capital Ltd now owns 21,814 shares of the utilities provider’s stock worth $1,477,000 after buying an additional 13,040 shares during the period. Cetera Investment Advisers grew its holdings in NRG Energy by 104.5% during the 1st quarter. Cetera Investment Advisers now owns 73,865 shares of the utilities provider’s stock valued at $5,000,000 after purchasing an additional 37,750 shares during the last quarter. Assenagon Asset Management S.A. raised 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 worth $124,318,000 after purchasing an additional 633,765 shares during the period. Friedenthal Financial bought a new stake in NRG Energy in the second quarter worth about $746,000. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of NRG Energy by 2.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 288,619 shares of the utilities provider’s stock valued at $19,537,000 after buying an additional 7,880 shares during the period. Institutional investors own 97.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. BMO Capital Markets lifted their target price 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. Jefferies Financial Group assumed 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. Guggenheim lifted their price objective on shares of NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, StockNews.com downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $97.43.

NRG Energy Stock Up 0.6 %

NYSE:NRG 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 1-year low of $44.90 and a 1-year high of $102.84. The company has a 50-day moving average of $88.50 and a 200 day moving average of $82.37. The firm has a market cap of $18.67 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 1.35 and a beta of 1.10.

NRG Energy Announces Dividend

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

Insider Activity

In related news, insider Rasesh M. Patel sold 102,603 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 163,680 shares in the company, valued at $13,151,688. This represents a 38.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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.