State of New Jersey Common Pension Fund D lifted its position in NRG Energy Inc (NYSE:NRG) by 66.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,500,000 shares of the utilities provider’s stock after purchasing an additional 600,000 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.54% of NRG Energy worth $63,720,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Martingale Asset Management L P acquired a new position in NRG Energy during the third quarter worth $3,440,000. Legal & General Group Plc increased its stake in shares of NRG Energy by 0.8% in the third quarter. Legal & General Group Plc now owns 1,217,274 shares of the utilities provider’s stock valued at $45,526,000 after buying an additional 9,329 shares in the last quarter. Morgan Stanley increased its stake in shares of NRG Energy by 56.7% in the third quarter. Morgan Stanley now owns 1,484,451 shares of the utilities provider’s stock valued at $55,518,000 after buying an additional 536,854 shares in the last quarter. Clarus Wealth Advisors acquired a new stake in shares of NRG Energy in the fourth quarter valued at $237,000. Finally, Gulf International Bank UK Ltd acquired a new stake in shares of NRG Energy in the fourth quarter valued at $2,993,000. Institutional investors and hedge funds own 97.24% of the company’s stock.
NRG Energy stock traded down $0.74 during mid-day trading on Wednesday, hitting $34.28. The stock had a trading volume of 3,302,325 shares, compared to its average volume of 3,818,144. The stock has a market cap of $9.49 billion, a price-to-earnings ratio of 14.22 and a beta of 0.75. NRG Energy Inc has a 12 month low of $29.90 and a 12 month high of $43.66.
NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. NRG Energy had a net margin of 4.64% and a negative return on equity of 125.35%. NRG Energy’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 EPS. Research analysts predict that NRG Energy Inc will post 4.1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.35%. The ex-dividend date was Tuesday, April 30th. NRG Energy’s dividend payout ratio is 4.98%.
In related news, SVP David Callen sold 41,011 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $41.83, for a total value of $1,715,490.13. Following the transaction, the senior vice president now owns 58,130 shares in the company, valued at $2,431,577.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is owned by company insiders.
A number of brokerages have recently weighed in on NRG. Zacks Investment Research upgraded NRG Energy from a “hold” rating to a “strong-buy” rating and set a $41.00 target price for the company in a research note on Monday, May 20th. Citigroup raised their target price on NRG Energy from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Morgan Stanley set a $46.00 target price on NRG Energy and gave the company a “hold” rating in a research note on Thursday, May 16th. ValuEngine upgraded NRG Energy from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Finally, Macquarie set a $48.00 target price on NRG Energy and gave the company a “buy” rating in a research note on Friday, March 1st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $43.57.
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NRG Energy 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.
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