Commonwealth Bank of Australia cut its position in shares of NRG Energy, Inc. (NYSE:NRG) by 28.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,800 shares of the utilities provider’s stock after selling 23,500 shares during the quarter. Commonwealth Bank of Australia’s holdings in NRG Energy were worth $1,029,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in NRG Energy during the first quarter worth about $241,000. Arizona State Retirement System grew its position in NRG Energy by 0.3% during the second quarter. Arizona State Retirement System now owns 78,400 shares of the utilities provider’s stock worth $1,350,000 after buying an additional 200 shares in the last quarter. Canyon Capital Advisors LLC acquired a new stake in NRG Energy during the first quarter worth about $26,773,000. PNC Financial Services Group Inc. grew its position in NRG Energy by 7.3% during the first quarter. PNC Financial Services Group Inc. now owns 20,724 shares of the utilities provider’s stock worth $386,000 after buying an additional 1,409 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in NRG Energy by 694.4% during the second quarter. SG Americas Securities LLC now owns 73,240 shares of the utilities provider’s stock worth $1,261,000 after buying an additional 64,020 shares in the last quarter. 91.65% of the stock is currently owned by institutional investors and hedge funds.
NRG Energy, Inc. (NRG) opened at 22.93 on Friday. The firm’s 50-day moving average is $24.63 and its 200-day moving average is $19.49. The company’s market cap is $7.26 billion. NRG Energy, Inc. has a 52 week low of $9.84 and a 52 week high of $26.25.
NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ 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 quarter in the prior year, the business posted ($0.61) EPS. The business’s revenue was up 20.2% compared to the same quarter last year. On average, analysts expect that NRG Energy, Inc. will post $0.28 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on NRG shares. Zacks Investment Research raised NRG Energy from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Tuesday, July 11th. BidaskClub raised NRG Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. ValuEngine raised NRG Energy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Williams Capital started coverage on NRG Energy in a research report on Thursday, June 1st. They set a “buy” rating and a $20.00 target price on the stock. Finally, Barclays PLC reissued an “overweight” rating and set a $27.00 target price on shares of NRG Energy in a research report on Thursday, July 13th. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. NRG Energy presently has an average rating of “Buy” and an average price target of $22.25.
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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