Luminus Management LLC grew its stake in shares of NRG Energy Inc (NYSE:NRG) by 168.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,485,601 shares of the utilities provider’s stock after acquiring an additional 5,946,342 shares during the period. NRG Energy comprises 5.7% of Luminus Management LLC’s investment portfolio, making the stock its biggest position. Luminus Management LLC owned approximately 3.00% of NRG Energy worth $270,150,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in shares of NRG Energy by 20.9% during the 3rd quarter. Janus Henderson Group PLC now owns 6,671,449 shares of the utilities provider’s stock valued at $170,723,000 after buying an additional 1,154,171 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of NRG Energy by 8.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 5,779,835 shares of the utilities provider’s stock valued at $147,906,000 after buying an additional 474,714 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of NRG Energy by 31.4% during the 4th quarter. Renaissance Technologies LLC now owns 4,868,016 shares of the utilities provider’s stock valued at $138,641,000 after purchasing an additional 1,162,600 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of NRG Energy by 16.8% during the 4th quarter. Jennison Associates LLC now owns 3,808,530 shares of the utilities provider’s stock valued at $108,467,000 after purchasing an additional 546,628 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of NRG Energy by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 3,403,651 shares of the utilities provider’s stock valued at $96,788,000 after purchasing an additional 145,561 shares during the last quarter. 97.31% of the stock is owned by hedge funds and other institutional investors.
NRG has been the topic of several recent research reports. Zacks Investment Research raised shares of NRG Energy from a “sell” rating to a “hold” rating in a report on Monday, February 12th. ValuEngine lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Friday, December 1st. UBS Group initiated coverage on shares of NRG Energy in a report on Friday, February 23rd. They set a “buy” rating and a $33.00 target price on the stock. Finally, TheStreet lowered shares of NRG Energy from a “c” rating to a “d+” rating in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $26.88.
NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Thursday, March 1st. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.59. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.23 billion. NRG Energy had a negative net margin of 19.56% and a positive return on equity of 9.46%. equities analysts expect that NRG Energy Inc will post 2.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Wednesday, January 31st. NRG Energy’s dividend payout ratio (DPR) is presently -1.76%.
NRG Energy announced that its Board of Directors has initiated a share repurchase program on Thursday, March 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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About NRG Energy
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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