Dorsey Wright & Associates grew its stake in shares of NRG Energy Inc (NYSE:NRG) by 57.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 214,410 shares of the utilities provider’s stock after buying an additional 78,134 shares during the period. NRG Energy makes up 1.5% of Dorsey Wright & Associates’ portfolio, making the stock its 14th biggest position. Dorsey Wright & Associates owned approximately 0.07% of NRG Energy worth $8,019,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of NRG. Lourd Capital LLC acquired a new stake in shares of NRG Energy during the third quarter worth about $356,000. State of Alaska Department of Revenue raised its position in shares of NRG Energy by 3.0% during the third quarter. State of Alaska Department of Revenue now owns 52,923 shares of the utilities provider’s stock worth $1,978,000 after purchasing an additional 1,533 shares during the period. Addison Capital Co acquired a new stake in shares of NRG Energy during the third quarter worth about $377,000. Atria Investments LLC acquired a new stake in shares of NRG Energy during the third quarter worth about $243,000. Finally, Royal London Asset Management Ltd. acquired a new stake in shares of NRG Energy during the second quarter worth about $4,168,000. Hedge funds and other institutional investors own 98.92% of the company’s stock.
In related news, SVP David Callen sold 9,200 shares of NRG Energy stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $33.21, for a total value of $305,532.00. Following the sale, the senior vice president now owns 39,759 shares of the company’s stock, valued at approximately $1,320,396.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth R. Killinger sold 24,600 shares of NRG Energy stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $35.84, for a total value of $881,664.00. Following the completion of the sale, the executive vice president now directly owns 106,125 shares in the company, valued at approximately $3,803,520. The disclosure for this sale can be found here. In the last three months, insiders sold 92,975 shares of company stock worth $3,265,286. 0.38% of the stock is owned by insiders.
A number of equities research analysts have recently commented on NRG shares. Citigroup lowered NRG Energy from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Monday, July 30th. Zacks Investment Research lowered NRG Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 26th. ValuEngine raised NRG Energy from a “hold” rating to a “buy” rating in a research report on Saturday, October 6th. Macquarie raised their price target on NRG Energy from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, September 20th. Finally, Bank of America raised their price target on NRG Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $37.00.
NRG Energy stock traded up $0.39 during midday trading on Friday, reaching $36.37. The stock had a trading volume of 3,924,500 shares, compared to its average volume of 4,996,792. NRG Energy Inc has a 1-year low of $23.75 and a 1-year high of $38.25. The firm has a market cap of $11.35 billion, a PE ratio of 33.47 and a beta of 1.05. The company has a debt-to-equity ratio of 7.16, a quick ratio of 1.17 and a current ratio of 1.30.
NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, August 2nd. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.55). NRG Energy had a negative net margin of 9.30% and a positive return on equity of 29.44%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same period in the prior year, the business posted $0.36 EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts predict that NRG Energy Inc will post 3.84 EPS for the current year.
NRG Energy Company 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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