Southpoint Capital Advisors LP purchased a new position in shares of NRG Energy Inc (NYSE:NRG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,000,000 shares of the utilities provider’s stock, valued at approximately $56,960,000. NRG Energy comprises 2.7% of Southpoint Capital Advisors LP’s holdings, making the stock its 16th biggest holding. Southpoint Capital Advisors LP owned about 0.63% of NRG Energy as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in NRG. Raymond James Financial Services Advisors Inc. purchased a new position in NRG Energy during the 3rd quarter worth approximately $245,000. Canada Pension Plan Investment Board grew its stake in NRG Energy by 1.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 372,468 shares of the utilities provider’s stock worth $9,531,000 after buying an additional 4,700 shares during the last quarter. State of Wisconsin Investment Board grew its stake in NRG Energy by 4.5% during the 3rd quarter. State of Wisconsin Investment Board now owns 96,652 shares of the utilities provider’s stock worth $2,473,000 after buying an additional 4,180 shares during the last quarter. Jennison Associates LLC grew its stake in NRG Energy by 82.1% during the 3rd quarter. Jennison Associates LLC now owns 3,261,902 shares of the utilities provider’s stock worth $83,472,000 after buying an additional 1,470,410 shares during the last quarter. Finally, Sei Investments Co. grew its stake in NRG Energy by 61.9% during the 3rd quarter. Sei Investments Co. now owns 62,685 shares of the utilities provider’s stock worth $1,604,000 after buying an additional 23,971 shares during the last quarter. Hedge funds and other institutional investors own 97.31% of the company’s stock.
NRG has been the topic of several analyst reports. TheStreet downgraded NRG Energy from a “c” rating to a “d+” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded NRG Energy from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. ValuEngine downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, UBS Group initiated coverage on NRG Energy in a research note on Friday, February 23rd. They issued a “buy” rating and a $33.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $26.88.
NRG Energy (NYSE:NRG) last released its quarterly earnings results on Thursday, March 1st. The utilities provider reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.59. NRG Energy had a positive return on equity of 9.46% and a negative net margin of 19.56%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.23 billion. equities research analysts anticipate that NRG Energy Inc will post 2.61 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Wednesday, January 31st. NRG Energy’s dividend payout ratio is currently -1.76%.
NRG Energy announced that its Board of Directors has approved a share buyback plan on Thursday, March 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the utilities provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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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