Utah Retirement Systems lowered its position in NRG Energy Inc (NYSE:NRG) by 3.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,318 shares of the utilities provider’s stock after selling 1,900 shares during the period. Utah Retirement Systems’ holdings in NRG Energy were worth $2,107,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its holdings in NRG Energy by 6.0% in the third quarter. PNC Financial Services Group Inc. now owns 26,368 shares of the utilities provider’s stock worth $986,000 after buying an additional 1,487 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in NRG Energy by 3.0% in the third quarter. State of Alaska Department of Revenue now owns 52,923 shares of the utilities provider’s stock worth $1,978,000 after buying an additional 1,533 shares during the last quarter. Arizona State Retirement System increased its holdings in NRG Energy by 2.4% in the third quarter. Arizona State Retirement System now owns 75,206 shares of the utilities provider’s stock worth $2,813,000 after buying an additional 1,729 shares during the last quarter. State Treasurer State of Michigan increased its holdings in NRG Energy by 2.0% in the third quarter. State Treasurer State of Michigan now owns 90,368 shares of the utilities provider’s stock worth $3,380,000 after buying an additional 1,800 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in NRG Energy by 18.4% in the second quarter. Commonwealth Equity Services LLC now owns 12,214 shares of the utilities provider’s stock worth $375,000 after buying an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 97.51% of the company’s stock.
NRG has been the topic of a number of research reports. ValuEngine upgraded NRG Energy from a “hold” rating to a “buy” rating in a report on Saturday, October 6th. Macquarie increased their price objective on NRG Energy from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, September 20th. Bank of America increased their price objective on NRG Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, September 27th. Zacks Investment Research downgraded NRG Energy from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Finally, SunTrust Banks increased their price objective on NRG Energy from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, October 29th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $38.17.
Shares of NRG Energy stock opened at $40.45 on Friday. The company has a market cap of $11.55 billion, a price-to-earnings ratio of 37.11 and a beta of 1.05. The company has a debt-to-equity ratio of 7.16, a current ratio of 1.57 and a quick ratio of 1.42. NRG Energy Inc has a 12-month low of $23.75 and a 12-month high of $40.56.
NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, November 8th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.18). The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $4.04 billion. NRG Energy had a positive return on equity of 61.11% and a negative net margin of 11.52%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 EPS. As a group, equities analysts predict that NRG Energy Inc will post 3 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $0.12 dividend on an annualized basis and a yield of 0.30%. NRG Energy’s payout ratio is currently 11.01%.
In other NRG Energy news, EVP Elizabeth R. Killinger sold 24,600 shares of the company’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 completion of the sale, the executive vice president now owns 106,125 shares of the company’s stock, valued at $3,803,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher Moser sold 43,975 shares of the company’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 sale, the executive vice president now directly owns 61,075 shares of the company’s stock, valued at approximately $2,144,343.25. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.
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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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