NRG Energy Inc. (NRG) to Issue Quarterly Dividend of $0.03
NRG Energy Inc. (NYSE:NRG) announced a quarterly dividend on Wednesday, October 19th. Investors of record on Tuesday, November 1st will be paid a dividend of 0.03 per share on Tuesday, November 15th. This represents a $0.12 dividend on an annualized basis and a yield of 1.03%.
Shares of NRG Energy (NYSE:NRG) opened at 11.70 on Wednesday. NRG Energy has a one year low of $8.80 and a one year high of $18.32. The company’s market capitalization is $3.69 billion. The company has a 50-day moving average of $11.45 and a 200-day moving average of $13.70.
NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.76. NRG Energy had a negative net margin of 48.33% and a positive return on equity of 3.12%. The business earned $2.64 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the prior year, the company earned ($0.06) earnings per share. The company’s quarterly revenue was down 22.4% on a year-over-year basis. On average, analysts anticipate that NRG Energy will post $0.96 earnings per share for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. boosted its position in shares of NRG Energy by 0.6% in the second quarter. Sei Investments Co. now owns 42,961 shares of the company’s stock valued at $645,000 after buying an additional 269 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of NRG Energy during the second quarter valued at about $1,014,000. Public Sector Pension Investment Board boosted its position in shares of NRG Energy by 18.2% in the second quarter. Public Sector Pension Investment Board now owns 59,743 shares of the company’s stock valued at $896,000 after buying an additional 9,200 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of NRG Energy by 1.2% in the second quarter. Alliancebernstein L.P. now owns 574,518 shares of the company’s stock valued at $8,612,000 after buying an additional 7,086 shares in the last quarter. Finally, GAM Holding AG boosted its position in shares of NRG Energy by 3.1% in the second quarter. GAM Holding AG now owns 15,113 shares of the company’s stock valued at $227,000 after buying an additional 456 shares in the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.
Several research firms have weighed in on NRG. Zacks Investment Research lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Thursday, July 21st. Deutsche Bank AG reiterated a “buy” rating and issued a $21.00 target price on shares of NRG Energy in a report on Wednesday, August 10th. Barclays PLC cut their target price on shares of NRG Energy from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, August 10th. Citigroup Inc. cut their target price on shares of NRG Energy from $14.00 to $11.00 and set a “sell” rating on the stock in a report on Monday, September 12th. Finally, TheStreet lowered shares of NRG Energy from a “hold” rating to a “sell” rating in a report on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $16.67.
NRG Energy Company Profile
NRG Energy, Inc (NRG) is an integrated power company that produces, sells and delivers energy, and energy products and services in various power markets in the United States. The Company’s segments include NRG Business, which includes power generation, the carbon capture business and energy services; NRG Home, which includes NRG Home Retail, which consists of residential retail services and products, and NRG Home Solar, which includes the installation and leasing of residential solar services; NRG Renew, which includes solar and wind assets, excluding those in the NRG Yield and NRG Home Solar segments; NRG Yield, and corporate activities.
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