Patton Fund Management Inc. Sells 4,065 Shares of NRG Energy, Inc. (NYSE:NRG)

Patton Fund Management Inc. lessened its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,563 shares of the utilities provider’s stock after selling 4,065 shares during the quarter. NRG Energy makes up approximately 1.3% of Patton Fund Management Inc.’s portfolio, making the stock its 15th largest holding. Patton Fund Management Inc.’s holdings in NRG Energy were worth $6,519,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Banco Santander S.A. bought a new position in NRG Energy during the second quarter valued at approximately $217,671,000. Capitolis Liquid Global Markets LLC grew its holdings in NRG Energy by 253.2% during the first quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock valued at $119,541,000 after purchasing an additional 1,266,000 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in NRG Energy by 11.1% during the first quarter. Russell Investments Group Ltd. now owns 1,610,562 shares of the utilities provider’s stock valued at $109,007,000 after purchasing an additional 160,415 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in NRG Energy by 65.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock valued at $124,318,000 after purchasing an additional 633,765 shares during the last quarter. Finally, Zimmer Partners LP acquired a new position in NRG Energy during the first quarter valued at approximately $64,306,000. Institutional investors own 97.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on NRG. Wells Fargo & Company increased their price target on NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. BMO Capital Markets increased their price target on NRG Energy from $88.00 to $90.00 and gave the company a “market perform” rating in a report on Monday, September 30th. Guggenheim increased their price target on NRG Energy from $77.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Finally, Jefferies Financial Group assumed coverage on shares of NRG Energy in a research note on Friday, September 13th. They issued a “hold” rating and a $82.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NRG Energy has an average rating of “Hold” and an average price target of $83.25.

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 completion of the transaction, the insider now directly owns 163,680 shares of the company’s stock, valued at $13,151,688. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.86% of the stock is currently owned by company insiders.

NRG Energy Price Performance

Shares of NYSE NRG traded down $1.19 during midday trading on Thursday, reaching $90.10. 607,522 shares of the company traded hands, compared to its average volume of 3,314,617. The firm has a market cap of $18.78 billion, a PE ratio of 12.93 and a beta of 1.10. The stock’s 50-day simple moving average is $84.82 and its 200-day simple moving average is $79.73. NRG Energy, Inc. has a 12 month low of $40.10 and a 12 month high of $96.40. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18.

NRG Energy (NYSE:NRG) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $1.82. The company had revenue of $6.66 billion during the quarter, compared to analysts’ expectations of $8.32 billion. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $1.10 earnings per share. As a group, equities analysts anticipate that NRG Energy, Inc. will post 5.51 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.4075 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.81%. NRG Energy’s dividend payout ratio is 23.09%.

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.