Visionary Asset Management Inc. acquired a new position in NRG Energy, Inc. (NYSE:NRG) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,448 shares of the utilities provider’s stock, valued at approximately $216,000.
Several other large investors have also modified their holdings of NRG. Russell Investments Group Ltd. lifted its stake in shares of NRG Energy by 293.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 222,484 shares of the utilities provider’s stock worth $3,830,000 after purchasing an additional 165,966 shares during the period. Sei Investments Co. lifted its stake in shares of NRG Energy by 319.6% in the 2nd quarter. Sei Investments Co. now owns 38,714 shares of the utilities provider’s stock worth $666,000 after purchasing an additional 29,488 shares during the period. Retirement Systems of Alabama lifted its stake in shares of NRG Energy by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 153,257 shares of the utilities provider’s stock worth $2,639,000 after purchasing an additional 520 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of NRG Energy by 4.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,714,571 shares of the utilities provider’s stock worth $29,525,000 after purchasing an additional 69,048 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of NRG Energy by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 78,400 shares of the utilities provider’s stock worth $1,350,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.
A number of equities research analysts have commented on the stock. SunTrust Banks restated a “hold” rating and set a $25.00 target price on shares of NRG Energy in a research note on Friday, October 20th. Zacks Investment Research cut shares of NRG Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th. ValuEngine cut shares of NRG Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 27th. Finally, Bank of America assumed coverage on shares of NRG Energy in a research note on Tuesday, October 24th. They set a “buy” rating and a $31.00 target price on the stock. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. NRG Energy presently has an average rating of “Buy” and an average price target of $24.67.
Shares of NRG Energy, Inc. (NRG) opened at $27.50 on Friday. NRG Energy, Inc. has a one year low of $12.11 and a one year high of $29.78. The company has a market cap of $8,764.64, a P/E ratio of 20.50 and a beta of 1.28. The company has a current ratio of 1.28, a quick ratio of 1.11 and a debt-to-equity ratio of 4.24.
NRG Energy (NYSE:NRG) last released its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.51). NRG Energy had a positive return on equity of 8.82% and a negative net margin of 13.48%. The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same period last year, the firm earned $1.27 earnings per share. The business’s revenue was down 10.9% compared to the same quarter last year. equities analysts forecast that NRG Energy, Inc. will post 0.56 earnings per share for the current year.
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About NRG Energy
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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