Bank of New York Mellon Corp boosted its holdings in NRG Energy Inc (NYSE:NRG) by 45.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,002,481 shares of the utilities provider’s stock after purchasing an additional 937,092 shares during the period. Bank of New York Mellon Corp owned about 0.99% of NRG Energy worth $92,177,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in NRG. Jane Street Group LLC grew its position in shares of NRG Energy by 108.2% in the 2nd quarter. Jane Street Group LLC now owns 15,673 shares of the utilities provider’s stock valued at $481,000 after acquiring an additional 206,430 shares during the period. Putnam Investments LLC grew its position in shares of NRG Energy by 7.0% in the 2nd quarter. Putnam Investments LLC now owns 7,079,811 shares of the utilities provider’s stock valued at $217,350,000 after acquiring an additional 461,184 shares during the period. Millennium Management LLC grew its position in shares of NRG Energy by 1.7% in the 2nd quarter. Millennium Management LLC now owns 6,217,762 shares of the utilities provider’s stock valued at $190,885,000 after acquiring an additional 102,328 shares during the period. Soros Fund Management LLC bought a new position in shares of NRG Energy in the 2nd quarter valued at about $7,491,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of NRG Energy in the 2nd quarter valued at about $1,535,000. 98.24% of the stock is owned by institutional investors and hedge funds.
In other NRG Energy news, EVP Christopher Moser sold 43,975 shares of NRG Energy stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $35.11, for a total value of $1,543,962.25. Following the completion of the sale, the executive vice president now owns 61,075 shares in the company, valued at approximately $2,144,343.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth R. Killinger sold 24,600 shares of NRG Energy stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $35.84, for a total transaction of $881,664.00. Following the completion of the sale, the executive vice president now owns 106,125 shares of the company’s stock, valued at approximately $3,803,520. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,775 shares of company stock valued at $2,959,754. 0.38% of the stock is currently owned by corporate insiders.
NYSE NRG opened at $38.28 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.30 and a debt-to-equity ratio of 7.16. The stock has a market cap of $11.52 billion, a PE ratio of 35.12 and a beta of 0.99. NRG Energy Inc has a 52-week low of $23.75 and a 52-week high of $38.95.
NRG Energy (NYSE:NRG) last posted its earnings results on Thursday, November 8th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.18). The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $4.04 billion. NRG Energy had a positive return on equity of 29.44% and a negative net margin of 9.30%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 EPS. As a group, equities research analysts expect that NRG Energy Inc will post 3.21 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Wednesday, October 31st. NRG Energy’s dividend payout ratio is presently 11.01%.
A number of analysts have recently issued reports on the stock. Zacks Investment Research cut shares of NRG Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Bank of America raised their target price on shares of NRG Energy from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. ValuEngine cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. SunTrust Banks raised their target price on shares of NRG Energy from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, October 29th. Finally, Macquarie raised their target price on shares of NRG Energy from $40.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, September 20th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.17.
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About NRG Energy
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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