Verition Fund Management LLC lessened its stake in shares of NRG Energy Inc (NYSE:NRG) by 66.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,604 shares of the utilities provider’s stock after selling 209,592 shares during the period. Verition Fund Management LLC’s holdings in NRG Energy were worth $3,255,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in NRG. Luminus Management LLC grew its position in NRG Energy by 168.0% during the 4th quarter. Luminus Management LLC now owns 9,485,601 shares of the utilities provider’s stock worth $270,150,000 after purchasing an additional 5,946,342 shares during the last quarter. Southpoint Capital Advisors LP purchased a new stake in shares of NRG Energy in the 4th quarter valued at $56,960,000. MD Sass Investors Services Inc. boosted its holdings in shares of NRG Energy by 1,028.4% in the 1st quarter. MD Sass Investors Services Inc. now owns 1,415,060 shares of the utilities provider’s stock valued at $43,203,000 after acquiring an additional 1,289,660 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of NRG Energy by 31.4% in the 4th quarter. Renaissance Technologies LLC now owns 4,868,016 shares of the utilities provider’s stock valued at $138,641,000 after acquiring an additional 1,162,600 shares during the last quarter. Finally, Brookfield Asset Management Inc. purchased a new stake in shares of NRG Energy in the 4th quarter valued at $22,476,000. 97.31% of the stock is currently owned by institutional investors.
NRG stock opened at $34.10 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.09 and a debt-to-equity ratio of 6.82. NRG Energy Inc has a 12 month low of $15.95 and a 12 month high of $35.17. The firm has a market capitalization of $10.28 billion, a PE ratio of 31.28 and a beta of 0.94.
NRG Energy (NYSE:NRG) last posted its earnings results on Thursday, May 3rd. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.73. NRG Energy had a negative net margin of 16.04% and a positive return on equity of 26.42%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.08 billion. NRG Energy’s quarterly revenue was up 1.6% on a year-over-year basis. research analysts expect that NRG Energy Inc will post 3.29 EPS for the current fiscal year.
NRG Energy declared that its board has initiated a stock repurchase plan on Thursday, March 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the utilities provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, April 30th. NRG Energy’s dividend payout ratio is currently 11.01%.
NRG has been the topic of several recent research reports. ValuEngine downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 17th. TheStreet downgraded shares of NRG Energy from a “c” rating to a “d+” rating in a report on Thursday, March 1st. SunTrust Banks reaffirmed a “hold” rating and issued a $29.00 price objective on shares of NRG Energy in a report on Thursday, March 15th. Zacks Investment Research raised shares of NRG Energy from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a report on Tuesday, April 24th. Finally, UBS Group initiated coverage on shares of NRG Energy in a report on Friday, February 23rd. They issued a “buy” rating and a $33.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $33.20.
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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