Korea Investment CORP lowered its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 684,846 shares of the utilities provider’s stock after selling 27,200 shares during the quarter. Korea Investment CORP owned about 0.22% of NRG Energy worth $17,525,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. Strs Ohio bought a new position in shares of NRG Energy during the 3rd quarter valued at $2,303,000. Meeder Asset Management Inc. raised its holdings in shares of NRG Energy by 22.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 82,376 shares of the utilities provider’s stock valued at $2,108,000 after purchasing an additional 15,152 shares in the last quarter. Locust Wood Capital Advisers LLC bought a new position in shares of NRG Energy during the 3rd quarter valued at $20,076,000. Quantitative Systematic Strategies LLC bought a new position in shares of NRG Energy during the 3rd quarter valued at $211,000. Finally, Shell Asset Management Co. bought a new position in shares of NRG Energy during the 3rd quarter valued at $1,766,000. Institutional investors and hedge funds own 91.88% of the company’s stock.
NRG Energy, Inc. (NRG) opened at 25.34 on Monday. NRG Energy, Inc. has a 1-year low of $9.84 and a 1-year high of $26.68. The company has a 50-day moving average of $24.90 and a 200-day moving average of $21.04. The firm’s market capitalization is $8.02 billion.
NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.31. NRG Energy had a negative net margin of 10.67% and a positive return on equity of 12.38%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the firm posted ($0.61) earnings per share. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, equities analysts predict that NRG Energy, Inc. will post $0.74 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.47%. The ex-dividend date is Tuesday, October 31st. NRG Energy’s dividend payout ratio (DPR) is currently -2.75%.
A number of research firms have recently weighed in on NRG. Zacks Investment Research downgraded shares of NRG Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th. SunTrust Banks, Inc. restated a “hold” rating and set a $25.00 price target on shares of NRG Energy in a report on Friday, October 20th. BidaskClub upgraded shares of NRG Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. ValuEngine downgraded shares of NRG Energy from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Bank of America Corporation began coverage on shares of NRG Energy in a report on Tuesday, October 24th. They set a “buy” rating and a $31.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $24.67.
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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