93,000 Shares in NRG Energy, Inc. (NYSE:NRG) Acquired by Scalar Gauge Management LLC

Scalar Gauge Management LLC acquired a new stake in NRG Energy, Inc. (NYSE:NRG) during the third quarter, HoldingsChannel.com reports. The fund acquired 93,000 shares of the utilities provider’s stock, valued at approximately $8,472,000. NRG Energy accounts for about 4.5% of Scalar Gauge Management LLC’s holdings, making the stock its 6th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in NRG Energy in the third quarter valued at $26,000. Covestor Ltd boosted its position in shares of 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. Rothschild Investment LLC purchased a new position in shares of NRG Energy in the 2nd quarter valued at about $32,000. First Horizon Advisors Inc. raised its position in shares of NRG Energy by 76.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 191 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in NRG Energy during the third quarter worth approximately $35,000. 97.72% of the stock is currently owned by institutional investors and hedge funds.

NRG Energy Stock Up 2.8 %

NRG opened at $101.61 on Friday. The business has a 50 day moving average price of $91.36 and a two-hundred day moving average price of $83.59. NRG Energy, Inc. has a 52 week low of $46.74 and a 52 week high of $103.14. The company has a market cap of $20.58 billion, a PE ratio of 25.53, a P/E/G 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.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Friday, November 1st. NRG Energy’s dividend payout ratio is presently 40.95%.

Analyst Ratings Changes

Several brokerages have commented on NRG. StockNews.com lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Wells Fargo & Company boosted their price target on shares of NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. BMO Capital Markets upped their price objective on shares of NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a research note on Tuesday, November 19th. Citigroup lifted their target price on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Guggenheim upped their target price on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.71.

Insider Activity at NRG Energy

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 transaction, the insider now 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 legal filing with the SEC, which is available at this link. 0.86% of the stock is currently owned by insiders.

NRG Energy Company 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.