NRG Energy drops after unveiling secondary offering

Electric utility NRG Energy NRG.N shares fall 4.3% post-market to $168 after secondary offering launched

Houston, Texas-based NRG says affiliates of LS Power to offload 12.3 mln shares

Shares part of the consideration selling shareholders received from NRG in recently closed acquisition of LS Power's natgas generation facilities and a virtual power plant

Barclays and Citigroup joint bookrunners for offering

NRG has ~214.7 mln shares outstanding

Stock on Mon closed down 1.9% at $175.58, up 10% YTD. Stock hit record intraday high of $189.96 last Weds

Avg rating of 16 analysts is "buy"; median PT $203, per LSEG