Massachusetts Financial Services Co. MA Buys 54,165 Shares of NRG Energy, Inc. (NYSE:NRG)

Massachusetts Financial Services Co. MA grew its holdings in NRG Energy, Inc. (NYSE:NRG) by 29.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 236,734 shares of the utilities provider’s stock after purchasing an additional 54,165 shares during the period. Massachusetts Financial Services Co. MA owned about 0.11% of NRG Energy worth $21,566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NRG. Ashton Thomas Securities LLC acquired a new stake in shares of NRG Energy in the third quarter valued at approximately $26,000. Covestor Ltd raised its holdings in shares of NRG Energy by 74.7% in the third quarter. Covestor Ltd now owns 325 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 139 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of NRG Energy in the second quarter valued at approximately $32,000. First Horizon Advisors Inc. raised its holdings in shares of NRG Energy by 76.1% in 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 last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of NRG Energy in the third quarter valued at approximately $35,000. 97.72% of the stock is currently owned by institutional investors and hedge funds.

NRG Energy Price Performance

NYSE:NRG opened at $91.92 on Tuesday. NRG Energy, Inc. has a one year low of $45.46 and a one year high of $102.84. The company has a market cap of $18.62 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.39 and a beta of 1.10. The firm’s fifty day moving average price is $90.28 and its two-hundred day moving average price is $83.25. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10.

NRG Energy Announces Dividend

The business also recently disclosed 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 1.77%. NRG Energy’s dividend payout ratio is currently 40.95%.

Insider Buying and Selling at NRG Energy

In related news, insider Rasesh M. Patel sold 102,603 shares of the company’s stock in a transaction dated 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NRG shares. Wells Fargo & Company lifted their price objective on shares of NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, November 11th. StockNews.com downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Jefferies Financial Group assumed coverage on shares of NRG Energy in a report on Friday, September 13th. They set a “hold” rating and a $82.00 target price on the stock. Citigroup boosted 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 boosted their target price on shares of NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.