Pinebridge Investments L.P. boosted its holdings in shares of NRG Energy Inc (NYSE:NRG) by 108.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 437,700 shares of the utilities provider’s stock after purchasing an additional 227,992 shares during the period. Pinebridge Investments L.P.’s holdings in NRG Energy were worth $15,372,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in NRG. Los Angeles Capital Management & Equity Research Inc. lifted its stake in NRG Energy by 431.3% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,049,142 shares of the utilities provider’s stock valued at $71,966,000 after purchasing an additional 1,663,460 shares during the last quarter. Geode Capital Management LLC lifted its stake in NRG Energy by 17.8% during the fourth quarter. Geode Capital Management LLC now owns 4,821,667 shares of the utilities provider’s stock valued at $190,674,000 after purchasing an additional 727,114 shares during the last quarter. APG Asset Management N.V. acquired a new stake in NRG Energy during the second quarter valued at approximately $19,546,000. TD Asset Management Inc. lifted its stake in NRG Energy by 178.9% during the second quarter. TD Asset Management Inc. now owns 868,766 shares of the utilities provider’s stock valued at $30,511,000 after purchasing an additional 557,219 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in NRG Energy by 107.1% during the first quarter. Wells Fargo & Company MN now owns 861,389 shares of the utilities provider’s stock valued at $36,593,000 after purchasing an additional 445,435 shares during the last quarter. 96.17% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on NRG. Morgan Stanley upgraded shares of NRG Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $47.00 to $49.00 in a report on Friday, September 6th. ValuEngine lowered shares of NRG Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Goldman Sachs Group upgraded shares of NRG Energy from a “buy” rating to a “conviction-buy” rating and set a $56.00 price target on the stock in a report on Monday, June 24th. Finally, Zacks Investment Research upgraded shares of NRG Energy from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. NRG Energy currently has an average rating of “Buy” and an average price target of $45.13.
Shares of NRG stock traded up $0.25 during trading hours on Friday, reaching $38.54. 103,278 shares of the stock traded hands, compared to its average volume of 2,279,513. NRG Energy Inc has a 1-year low of $32.63 and a 1-year high of $43.66. The business has a fifty day moving average price of $35.43 and a 200 day moving average price of $37.67. The firm has a market capitalization of $9.61 billion, a PE ratio of 15.97, a PEG ratio of 0.27 and a beta of 0.78.
NRG Energy (NYSE:NRG) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.08). NRG Energy had a net margin of 6.20% and a negative return on equity of 45.11%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The firm’s revenue was up .2% compared to the same quarter last year. As a group, analysts forecast that NRG Energy Inc will post 3.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.25%. The ex-dividend date was Wednesday, July 31st. This is a positive change from NRG Energy’s previous quarterly dividend of $0.03. NRG Energy’s dividend payout ratio is currently 4.98%.
NRG Energy Profile
NRG Energy, Inc, together with its subsidiaries, operates as an energy company in the United States. The company is involved in the producing, selling, and delivering electricity and related products and services to 3.1 million residential, industrial, and commercial consumers. It generates electricity using natural gas, coal, oil, solar, nuclear, wind, fossil fuel, and nuclear sources.
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