Arizona State Retirement System boosted its holdings in shares of NRG Energy Inc (NYSE:NRG) by 2.4% in the 3rd quarter, Holdings Channel reports. The firm owned 75,206 shares of the utilities provider’s stock after buying an additional 1,729 shares during the period. Arizona State Retirement System’s holdings in NRG Energy were worth $2,813,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NRG. MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in NRG Energy by 362.4% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 3,838,175 shares of the utilities provider’s stock worth $143,547,000 after purchasing an additional 3,008,067 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in NRG Energy by 33.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,946,617 shares of the utilities provider’s stock worth $259,803,000 after purchasing an additional 1,748,586 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in NRG Energy during the second quarter worth $53,030,000. Bank of New York Mellon Corp lifted its stake in NRG Energy by 45.4% during the second quarter. Bank of New York Mellon Corp now owns 3,002,481 shares of the utilities provider’s stock worth $92,177,000 after purchasing an additional 937,092 shares during the last quarter. Finally, BlueMountain Capital Management LLC lifted its stake in NRG Energy by 182.0% during the second quarter. BlueMountain Capital Management LLC now owns 1,340,141 shares of the utilities provider’s stock worth $41,142,000 after purchasing an additional 864,871 shares during the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.
Several equities research analysts have weighed in on the company. ValuEngine cut NRG Energy from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. SunTrust Banks upped their target price on NRG Energy from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, October 29th. Zacks Investment Research upgraded NRG Energy from a “sell” rating to a “hold” rating in a research note on Monday, October 22nd. Bank of America increased their price target on NRG Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, September 27th. Finally, Macquarie increased their price target on NRG Energy from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, September 20th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $38.17.
Shares of NRG opened at $38.28 on Monday. NRG Energy Inc has a 52 week low of $23.75 and a 52 week high of $38.95. The firm has a market capitalization of $11.22 billion, a PE ratio of 35.12 and a beta of 0.99. The company has a debt-to-equity ratio of 7.16, a current ratio of 1.57 and a quick ratio of 1.17.
NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Thursday, November 8th. The utilities provider reported $0.94 EPS for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.18). NRG Energy had a negative net margin of 11.52% and a positive return on equity of 61.11%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. As a group, analysts expect that NRG Energy Inc will post 3.21 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Wednesday, October 31st. NRG Energy’s payout ratio is 11.01%.
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NRG Energy Profile
NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. The company is involved in the generation of electricity using fossil fuel and nuclear sources. The company provides electricity to 2.9 million residential, commercial, and industrial consumers; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; and carbon management and specialty services.
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