NRG Energy Sees Unusually Large Options Volume (NRG)
NRG Energy Inc (NYSE:NRG) saw some unusual options trading on Thursday. Traders purchased 11,744 call options on the company. This is an increase of approximately 464% compared to the average volume of 2,084 call options.
A number of research firms have issued reports on NRG. Zacks Investment Research raised NRG Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 17th. TheStreet raised NRG Energy from a “d+” rating to a “c-” rating in a research report on Wednesday, February 1st. Citigroup Inc raised NRG Energy from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Friday, February 24th. Barclays PLC reaffirmed an “overweight” rating and issued a $20.00 price target (up previously from $19.00) on shares of NRG Energy in a research report on Sunday, April 23rd. Finally, Goldman Sachs Group Inc raised NRG Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $13.00 to $26.00 in a research report on Wednesday, March 29th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.50.
In related news, Director John C. Wilder, Jr. purchased 1,200,000 shares of NRG Energy stock in a transaction on Thursday, March 16th. The shares were bought at an average price of $17.47 per share, with a total value of $20,964,000.00. Following the transaction, the director now directly owns 8,060 shares of the company’s stock, valued at $140,808.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Bank of Nova Scotia purchased a new stake in shares of NRG Energy during the first quarter valued at about $1,684,000. Elliott Management Corp boosted its stake in shares of NRG Energy by 313.1% in the first quarter. Elliott Management Corp now owns 18,073,606 shares of the utilities provider’s stock valued at $337,976,000 after buying an additional 13,698,367 shares during the last quarter. Canyon Capital Advisors LLC purchased a new stake in shares of NRG Energy during the first quarter valued at about $26,773,000. National Asset Management Inc. purchased a new stake in shares of NRG Energy during the first quarter valued at about $550,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of NRG Energy during the first quarter valued at about $2,815,000. Hedge funds and other institutional investors own 91.90% of the company’s stock.
Shares of NRG Energy (NYSE:NRG) opened at 15.71 on Friday. The firm’s market cap is $4.97 billion. The stock’s 50 day moving average price is $16.84 and its 200 day moving average price is $15.15. NRG Energy has a 12 month low of $9.84 and a 12 month high of $19.07.
NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by $0.11. NRG Energy had a negative net margin of 47.59% and a positive return on equity of 10.15%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $3.29 billion. Equities research analysts predict that NRG Energy will post $0.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 1st were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, April 27th. NRG Energy’s payout ratio is currently -0.66%.
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NRG Energy Company Profile
NRG Energy, Inc (NRG) is an integrated power company. The Company is engaged in producing, selling and delivering electricity and related products and services in various markets in the United States. The Company’s segments include Generation, Retail, Renewables, NRG Yield, Inc (NRG Yield) and Corporate activities.
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