Russell Investments Group Ltd. lifted its holdings in NRG Energy Inc (NYSE:NRG) by 2,112.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 583,484 shares of the utilities provider’s stock after purchasing an additional 557,112 shares during the period. Russell Investments Group Ltd.’s holdings in NRG Energy were worth $17,789,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in NRG. Mutual of America Capital Management LLC lifted its stake in shares of NRG Energy by 20.1% in the 4th quarter. Mutual of America Capital Management LLC now owns 45,938 shares of the utilities provider’s stock valued at $1,308,000 after purchasing an additional 7,681 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of NRG Energy by 31.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,025 shares of the utilities provider’s stock valued at $1,054,000 after purchasing an additional 8,869 shares during the last quarter. Cadence Capital Management LLC acquired a new stake in shares of NRG Energy in the 4th quarter valued at $1,254,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of NRG Energy by 54.7% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,076 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 2,148 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of NRG Energy by 322.7% in the 4th quarter. Teacher Retirement System of Texas now owns 110,278 shares of the utilities provider’s stock valued at $3,141,000 after purchasing an additional 84,190 shares during the last quarter. 97.31% of the stock is owned by institutional investors and hedge funds.
NRG has been the subject of a number of research analyst reports. UBS Group boosted their target price on shares of NRG Energy from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, March 28th. TheStreet raised shares of NRG Energy from a “d+” rating to a “c-” rating in a research report on Wednesday, March 21st. ValuEngine lowered shares of NRG Energy from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Zacks Investment Research raised shares of NRG Energy from a “hold” rating to a “strong-buy” rating and set a $36.00 target price for the company in a research report on Tuesday, April 24th. Finally, SunTrust Banks reissued a “hold” rating and set a $29.00 target price on shares of NRG Energy in a research report on Thursday, March 15th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $33.20.
Shares of NRG Energy opened at $32.66 on Tuesday, according to MarketBeat.com. The stock has a market cap of $10.44 billion, a PE ratio of 29.96 and a beta of 0.94. The company has a debt-to-equity ratio of 6.82, a current ratio of 1.23 and a quick ratio of 1.09. NRG Energy Inc has a 52 week low of $15.95 and a 52 week high of $35.17.
NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Thursday, May 3rd. The utilities provider reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.73. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.08 billion. NRG Energy had a negative net margin of 16.04% and a positive return on equity of 26.42%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. equities analysts predict that NRG Energy Inc will post 3.29 EPS for the current year.
The firm 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. The ex-dividend date of this dividend was Monday, April 30th. This represents a $0.12 dividend on an annualized basis and a yield of 0.37%. NRG Energy’s payout ratio is currently 11.01%.
NRG Energy announced that its board has authorized a share buyback plan on Thursday, March 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the utilities provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
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.
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.