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

Sumitomo Mitsui Trust Group Inc. grew its stake in NRG Energy, Inc. (NYSE:NRG) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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. owned about 0.25% of NRG Energy worth $47,714,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. grew its holdings in shares of NRG Energy by 14.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,880 shares of the utilities provider’s stock worth $330,000 after purchasing an additional 624 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in NRG Energy by 2.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 288,619 shares of the utilities provider’s stock worth $19,537,000 after buying an additional 7,880 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in NRG Energy by 20.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 259,880 shares of the utilities provider’s stock valued at $17,591,000 after buying an additional 43,580 shares during the period. SageView Advisory Group LLC acquired a new position in shares of NRG Energy in the 1st quarter valued at $170,000. Finally, Tocqueville Asset Management L.P. bought a new position in shares of NRG Energy during the 1st quarter worth about $237,000. Institutional investors own 97.72% of the company’s stock.

Wall Street Analysts Forecast Growth

NRG has been the topic of a number of analyst reports. Wells Fargo & Company upped their target price on shares of NRG Energy from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Guggenheim increased their target price on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Citigroup raised their target price on NRG Energy from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. BMO Capital Markets upped their price target on NRG Energy from $90.00 to $94.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, StockNews.com cut NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, NRG Energy currently has an average rating of “Hold” and a consensus price target of $97.43.

Insider Buying and Selling

In related news, insider Rasesh M. Patel sold 102,603 shares of the business’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 completion of the transaction, the insider now owns 163,680 shares in the company, valued at $13,151,688. The trade was a 38.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.86% of the stock is owned by corporate insiders.

NRG Energy Trading Up 0.6 %

NRG stock opened at $92.19 on Friday. The company has a debt-to-equity ratio of 5.57, a current ratio of 1.17 and a quick ratio of 1.10. The stock has a market capitalization of $18.67 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 1.35 and a beta of 1.10. The business has a fifty day moving average price of $88.50 and a 200 day moving average price of $82.37. NRG Energy, Inc. has a fifty-two week low of $44.90 and a fifty-two week high of $102.84.

NRG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.4075 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 1.77%. NRG Energy’s dividend payout ratio is 40.95%.

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.