Harvest Fund Management Co. Ltd Decreases Position in NRG Energy, Inc. (NYSE:NRG)

Harvest Fund Management Co. Ltd lowered its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 15.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,245 shares of the utilities provider’s stock after selling 4,973 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in NRG Energy were worth $2,573,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of NRG. Ashton Thomas Securities LLC purchased a new position in NRG Energy during the 3rd quarter worth approximately $26,000. Covestor Ltd boosted its stake in shares of NRG Energy by 74.7% during the third quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock worth $30,000 after buying an additional 139 shares during the period. Rothschild Investment LLC acquired a new position in NRG Energy in the 2nd quarter valued at about $32,000. First Horizon Advisors Inc. raised its stake in NRG Energy by 76.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 191 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in NRG Energy during the 3rd quarter worth approximately $35,000. 97.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Rasesh M. Patel sold 102,603 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $80.35, for a total value of $8,244,151.05. Following the completion of the sale, the insider now directly owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. This represents a 38.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

NRG Energy Stock Down 1.5 %

NRG stock opened at $95.48 on Monday. The firm’s 50-day moving average is $90.06 and its two-hundred day moving average is $83.18. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 5.57. The company has a market capitalization of $19.34 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10. NRG Energy, Inc. has a 52 week low of $45.29 and a 52 week high of $102.84.

NRG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued 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 1.71%. NRG Energy’s dividend payout ratio is currently 40.95%.

Analysts Set New Price Targets

NRG has been the subject of a number of recent analyst reports. BMO Capital Markets raised their target price on NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a report on Tuesday, November 19th. Wells Fargo & Company raised their target price on NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Jefferies Financial Group started coverage on shares of NRG Energy in a research report on Friday, September 13th. They issued a “hold” rating and a $82.00 target price for the company. 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. Finally, Guggenheim increased 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. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $98.29.

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.