Bank of The West increased its position in shares of NRG Energy Inc (NYSE:NRG) by 17.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 100,952 shares of the utilities provider’s stock after buying an additional 14,803 shares during the quarter. Bank of The West’s holdings in NRG Energy were worth $3,998,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of NRG. Redhawk Wealth Advisors Inc. bought a new stake in NRG Energy during the 2nd quarter worth approximately $26,000. Valeo Financial Advisors LLC increased its holdings in NRG Energy by 758.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 807 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 713 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in NRG Energy during the 2nd quarter worth approximately $34,000. Garrett Wealth Advisory Group LLC bought a new stake in NRG Energy during the 3rd quarter worth approximately $40,000. Finally, CSat Investment Advisory L.P. increased its holdings in NRG Energy by 128.2% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,312 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 737 shares in the last quarter. 96.18% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on NRG. ValuEngine lowered NRG Energy from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. SunTrust Banks boosted their price objective on NRG Energy from $37.00 to $39.00 and gave the stock a “hold” rating in a report on Tuesday, September 17th. Zacks Investment Research raised NRG Energy from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Tuesday, August 20th. Citigroup boosted their price objective on NRG Energy from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Morgan Stanley raised NRG Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $47.00 to $49.00 in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. NRG Energy presently has an average rating of “Buy” and a consensus target price of $45.57.
Shares of NRG opened at $40.38 on Tuesday. The stock has a 50 day moving average price of $39.34 and a two-hundred day moving average price of $37.05. The firm has a market capitalization of $10.33 billion, a P/E ratio of 16.76, a P/E/G ratio of 0.28 and a beta of 0.79. NRG Energy Inc has a 52 week low of $32.63 and a 52 week high of $43.66.
NRG Energy (NYSE:NRG) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.08). The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.52 billion. NRG Energy had a net margin of 6.20% and a negative return on equity of 45.11%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 earnings per share. On average, analysts expect that NRG Energy Inc will post 3.92 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Thursday, October 31st. NRG Energy’s dividend payout ratio is presently 4.98%.
NRG Energy Company Profile
NRG Energy, Inc, together with its subsidiaries, operates as an energy company in the United States. The company is involved in the producing, selling, and delivering electricity and related products and services to 3.1 million residential, industrial, and commercial consumers. It generates electricity using natural gas, coal, oil, solar, nuclear, wind, fossil fuel, and nuclear sources.
Further Reading: Is the Dow Jones Industrial Average (DJIA) still relevant?
Want to see what other hedge funds are holding NRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NRG Energy Inc (NYSE:NRG).
Receive News & Ratings for NRG Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NRG Energy and related companies with MarketBeat.com's FREE daily email newsletter.