Brown Brothers Harriman & Co. Increases Stake in NRG Energy, Inc. (NYSE:NRG)

Brown Brothers Harriman & Co. grew its stake in shares of NRG Energy, Inc. (NYSE:NRG) by 113,700.0% in the third quarter, HoldingsChannel.com reports. The firm owned 1,138 shares of the utilities provider’s stock after buying an additional 1,137 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in NRG Energy were worth $104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NRG. Ashton Thomas Securities LLC purchased a new stake in NRG Energy during the 3rd quarter valued at $26,000. Covestor Ltd boosted its holdings 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 purchasing an additional 139 shares during the period. Rothschild Investment LLC purchased a new stake in shares of NRG Energy during the second quarter worth about $32,000. First Horizon Advisors Inc. increased its holdings 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 purchasing an additional 191 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in NRG Energy during the 3rd quarter valued at approximately $35,000. Institutional investors own 97.72% of the company’s stock.

NRG Energy Stock Performance

Shares of NRG opened at $98.89 on Friday. NRG Energy, Inc. has a 52 week low of $46.23 and a 52 week high of $102.84. 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 stock has a market cap of $20.03 billion, a P/E ratio of 24.85, a P/E/G ratio of 1.34 and a beta of 1.10. The business’s 50 day moving average price is $91.02 and its 200-day moving average price is $83.48.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $0.4075 per share. The ex-dividend date was Friday, November 1st. This represents a $1.63 annualized dividend and a dividend yield of 1.65%. NRG Energy’s payout ratio is presently 40.95%.

Insider Activity at NRG Energy

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 shares were sold at an average price of $80.35, for a total value of $8,244,151.05. Following the transaction, the insider now owns 163,680 shares in the company, valued at approximately $13,151,688. This represents a 38.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.86% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Jefferies Financial Group raised shares of NRG Energy from a “hold” rating to a “buy” rating and boosted their price objective for the company from $93.00 to $113.00 in a research report on Tuesday. Guggenheim raised their target price on shares of NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. BMO Capital Markets boosted their price target on shares of NRG Energy from $94.00 to $100.00 and gave the company a “market perform” rating in a research report on Tuesday, November 19th. Finally, Citigroup increased their price target on shares of NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $102.71.

About NRG Energy

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.