Commerce Bank Has $3.60 Million Position in NRG Energy, Inc. (NYSE:NRG)

Commerce Bank raised its stake in NRG Energy, Inc. (NYSE:NRG) by 526.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,513 shares of the utilities provider’s stock after buying an additional 33,207 shares during the quarter. Commerce Bank’s holdings in NRG Energy were worth $3,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NRG. Banco Santander S.A. acquired a new position in shares of NRG Energy in the second quarter worth $217,671,000. Assenagon Asset Management S.A. increased its position in NRG Energy by 65.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock worth $124,318,000 after purchasing an additional 633,765 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of NRG Energy by 32,962.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,052,705 shares of the utilities provider’s stock valued at $95,901,000 after buying an additional 1,049,521 shares during the last quarter. Zimmer Partners LP bought a new stake in shares of NRG Energy in the 1st quarter valued at approximately $64,306,000. Finally, Jupiter Asset Management Ltd. increased its holdings in NRG Energy by 114.3% in the second quarter. Jupiter Asset Management Ltd. now owns 837,461 shares of the utilities provider’s stock worth $65,205,000 after buying an additional 446,743 shares during the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.

Insider Buying and Selling

In other NRG Energy news, insider Rasesh M. Patel sold 102,603 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 163,680 shares in the company, valued at $13,151,688. This trade represents 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 currently owned by insiders.

Wall Street Analyst Weigh In

NRG has been the subject of a number of analyst reports. StockNews.com cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Wells Fargo & Company increased their target price on shares of NRG Energy from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Guggenheim boosted their price target on NRG Energy from $77.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group initiated coverage on NRG Energy in a research note on Friday, September 13th. They set a “hold” rating and a $82.00 price target for the company. Finally, Citigroup raised their price objective on NRG Energy from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.29.

NRG Energy Price Performance

Shares of NYSE:NRG opened at $95.48 on Friday. The company has a market cap of $19.34 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 1.38 and a beta of 1.10. The business has a 50 day moving average price of $90.06 and a 200 day moving average price of $83.06. The company has a quick ratio of 1.10, a current ratio of 1.17 and a debt-to-equity ratio of 5.57. NRG Energy, Inc. has a twelve month low of $45.29 and a twelve month high of $102.84.

NRG Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.4075 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.63 annualized dividend and a dividend yield of 1.71%. NRG Energy’s payout ratio is 40.95%.

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.