Kemnay Advisory Services Inc. purchased a new stake in NRG Energy Inc (NYSE:NRG) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 49,459 shares of the utilities provider’s stock, valued at approximately $1,850,000. NRG Energy makes up approximately 0.6% of Kemnay Advisory Services Inc.’s investment portfolio, making the stock its 25th largest holding.
A number of other hedge funds also recently bought and sold shares of NRG. FMR LLC raised its position in NRG Energy by 27.3% in the 3rd quarter. FMR LLC now owns 14,143,074 shares of the utilities provider’s stock valued at $528,952,000 after purchasing an additional 3,032,733 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd raised its position in NRG Energy by 362.4% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 3,838,175 shares of the utilities provider’s stock valued at $143,547,000 after purchasing an additional 3,008,067 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in NRG Energy by 33.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,946,617 shares of the utilities provider’s stock valued at $259,803,000 after purchasing an additional 1,748,586 shares in the last quarter. Alliancebernstein L.P. raised its position in NRG Energy by 67.9% in the 3rd quarter. Alliancebernstein L.P. now owns 3,881,049 shares of the utilities provider’s stock valued at $145,151,000 after purchasing an additional 1,569,817 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in NRG Energy by 45.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,002,481 shares of the utilities provider’s stock valued at $92,177,000 after purchasing an additional 937,092 shares in the last quarter. 97.51% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on NRG shares. ValuEngine raised NRG Energy from a “hold” rating to a “buy” rating in a research report on Saturday, October 6th. Zacks Investment Research upgraded NRG Energy from a “sell” rating to a “hold” rating in a report on Monday, October 22nd. Macquarie increased their price objective on NRG Energy from $40.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, September 20th. SunTrust Banks increased their price objective on NRG Energy from $35.00 to $36.00 and gave the company a “hold” rating in a report on Monday, October 29th. Finally, Bank of America increased their price objective on NRG Energy from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, September 27th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $38.17.
NRG opened at $39.83 on Thursday. NRG Energy Inc has a one year low of $23.75 and a one year high of $40.38. The stock has a market capitalization of $11.55 billion, a PE ratio of 36.54 and a beta of 1.05. The company has a current ratio of 1.57, a quick ratio of 1.42 and a debt-to-equity ratio of 7.16.
NRG Energy (NYSE:NRG) last released its quarterly earnings data on Thursday, November 8th. The utilities provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.18). NRG Energy had a negative net margin of 11.52% and a positive return on equity of 61.11%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the company posted $0.60 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. On average, research analysts expect that NRG Energy Inc will post 3 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were issued a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.30%. NRG Energy’s payout ratio is currently 11.01%.
In related news, EVP Elizabeth R. Killinger sold 24,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $35.84, for a total transaction of $881,664.00. Following the transaction, the executive vice president now owns 106,125 shares in the company, valued at approximately $3,803,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher Moser sold 43,975 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $35.11, for a total value of $1,543,962.25. Following the transaction, the executive vice president now owns 61,075 shares in the company, valued at approximately $2,144,343.25. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.
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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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