Sumitomo Mitsui Trust Group Inc. Purchases 8,426 Shares of NRG Energy, Inc. (NYSE:NRG)

Sumitomo Mitsui Trust Group Inc. grew its holdings in NRG Energy, Inc. (NYSE:NRG) by 1.6% during the 3rd quarter, Holdings Channel reports. The firm owned 523,758 shares of the utilities provider’s stock after purchasing an additional 8,426 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in NRG Energy were worth $47,714,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Castle Rock Wealth Management LLC lifted its stake in NRG Energy by 3.5% in the third quarter. Castle Rock Wealth Management LLC now owns 3,746 shares of the utilities provider’s stock valued at $356,000 after buying an additional 126 shares during the period. Park Avenue Securities LLC increased its stake in shares of NRG Energy by 2.8% in the 3rd quarter. Park Avenue Securities LLC now owns 4,910 shares of the utilities provider’s stock valued at $447,000 after acquiring an additional 134 shares during the last quarter. Covestor Ltd raised its position in shares of NRG Energy by 74.7% in the 3rd quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 139 shares during the period. Asahi Life Asset Management CO. LTD. boosted its stake in NRG Energy by 3.5% during the 3rd quarter. Asahi Life Asset Management CO. LTD. now owns 4,420 shares of the utilities provider’s stock worth $403,000 after acquiring an additional 150 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in NRG Energy by 76.1% during 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 during the period. Institutional investors and hedge funds own 97.72% of the company’s stock.

NRG Energy Trading Up 0.6 %

NYSE NRG opened at $92.19 on Friday. NRG Energy, Inc. has a 52 week low of $44.90 and a 52 week high of $102.84. The company has a debt-to-equity ratio of 5.57, a quick ratio of 1.10 and a current ratio of 1.17. The stock’s 50 day moving average price is $88.50 and its two-hundred day moving average price is $82.37. The stock has a market capitalization of $18.67 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.35 and a beta of 1.10.

NRG Energy Announces Dividend

The firm also recently announced 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 yield of 1.77%. The ex-dividend date of this dividend was Friday, November 1st. NRG Energy’s payout ratio is 40.95%.

Wall Street Analyst Weigh In

NRG has been the topic of several analyst reports. BMO Capital Markets increased their target price on shares of NRG Energy from $90.00 to $94.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Wells Fargo & Company boosted 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. Citigroup increased their target price on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group started coverage on shares of NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $97.43.

Insider Activity at NRG Energy

In related news, insider Rasesh M. Patel sold 102,603 shares of NRG Energy 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 sale, the insider now owns 163,680 shares of the company’s stock, valued at approximately $13,151,688. The trade was a 38.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is 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.