Point72 Asset Management L.P. trimmed its stake in NRG Energy Inc (NYSE:NRG) by 50.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,000 shares of the utilities provider’s stock after selling 125,000 shares during the quarter. Point72 Asset Management L.P.’s holdings in NRG Energy were worth $3,199,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of NRG. Tiedemann Wealth Management LLC lifted its position in shares of NRG Energy by 49.3% in the third quarter. Tiedemann Wealth Management LLC now owns 18,199 shares of the utilities provider’s stock valued at $101,000 after buying an additional 6,011 shares during the last quarter. Invictus RG acquired a new stake in shares of NRG Energy in the third quarter valued at approximately $110,000. Fieldpoint Private Securities LLC acquired a new stake in NRG Energy during the 2nd quarter worth approximately $112,000. Parkwood LLC acquired a new stake in NRG Energy during the 3rd quarter worth approximately $205,000. Finally, Thrivent Financial For Lutherans lifted its holdings in NRG Energy by 4.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 12,070 shares of the utilities provider’s stock worth $208,000 after purchasing an additional 510 shares during the last quarter. Hedge funds and other institutional investors own 97.25% of the company’s stock.
In related news, Director Barry T. Smitherman purchased 2,541 shares of NRG Energy stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $28.38 per share, for a total transaction of $72,113.58. Following the transaction, the director now owns 49,000 shares of the company’s stock, valued at approximately $1,390,620. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.
Several analysts recently weighed in on the company. Zacks Investment Research cut NRG Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 3rd. ValuEngine cut NRG Energy from a “buy” rating to a “hold” rating in a report on Friday, December 1st. SunTrust Banks reaffirmed a “hold” rating and issued a $25.00 price objective on shares of NRG Energy in a report on Friday, October 20th. Finally, Bank of America began coverage on NRG Energy in a report on Tuesday, October 24th. They issued a “buy” rating and a $31.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. NRG Energy currently has an average rating of “Buy” and a consensus target price of $24.67.
Shares of NRG Energy Inc (NYSE NRG) traded up $0.37 on Thursday, hitting $28.61. The stock had a trading volume of 6,129,286 shares, compared to its average volume of 6,039,238. The company has a market cap of $9,070.00, a price-to-earnings ratio of -11.35 and a beta of 1.29. NRG Energy Inc has a one year low of $13.95 and a one year high of $29.78. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.11 and a current ratio of 1.28.
NRG Energy (NYSE:NRG) last issued its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.51). The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.28 billion. NRG Energy had a positive return on equity of 8.82% and a negative net margin of 13.48%. The company’s revenue was down 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 EPS. equities analysts expect that NRG Energy Inc will post 0.56 earnings per share for the current fiscal year.
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NRG Energy Profile
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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