Northwestern Mutual Investment Management Company LLC trimmed its holdings in NRG Energy, Inc. (NYSE:NRG) by 81.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,013 shares of the utilities provider’s stock after selling 51,858 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in NRG Energy were worth $180,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of NRG. BlackRock Inc. grew its holdings in NRG Energy by 5,026.6% in the 1st quarter. BlackRock Inc. now owns 19,983,017 shares of the utilities provider’s stock worth $373,684,000 after buying an additional 19,593,226 shares in the last quarter. Elliott Management Corp grew its holdings in NRG Energy by 313.1% in the 1st quarter. Elliott Management Corp now owns 18,073,606 shares of the utilities provider’s stock worth $337,976,000 after buying an additional 13,698,367 shares in the last quarter. Brahman Capital Corp. bought a new position in NRG Energy in the 1st quarter worth approximately $186,827,000. FMR LLC grew its holdings in NRG Energy by 449.8% in the 1st quarter. FMR LLC now owns 6,986,918 shares of the utilities provider’s stock worth $130,656,000 after buying an additional 5,716,029 shares in the last quarter. Finally, Permian Investment Partners LP bought a new position in NRG Energy in the 1st quarter worth approximately $73,546,000. 91.64% of the stock is owned by institutional investors and hedge funds.
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Shares of NRG Energy, Inc. (NYSE:NRG) opened at 24.14 on Thursday. NRG Energy, Inc. has a 52-week low of $9.84 and a 52-week high of $26.25. The firm’s market capitalization is $7.64 billion. The firm has a 50-day moving average price of $24.59 and a 200-day moving average price of $19.63.
NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.31. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $3.19 billion. NRG Energy had a negative net margin of 10.67% and a positive return on equity of 12.38%. NRG Energy’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.61) earnings per share. On average, equities research analysts anticipate that NRG Energy, Inc. will post $0.34 EPS for the current year.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised NRG Energy from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Tuesday, September 12th. BidaskClub raised NRG Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Barclays PLC reissued an “overweight” rating and issued a $27.00 price objective on shares of NRG Energy in a report on Thursday, July 13th. They noted that the move was a valuation call. ValuEngine raised NRG Energy from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Finally, Williams Capital assumed coverage on NRG Energy in a report on Thursday, June 1st. They issued a “buy” rating and a $20.00 price objective for the company. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. NRG Energy has a consensus rating of “Buy” and an average price target of $22.25.
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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