Zweig DiMenna Associates LLC bought a new position in shares of NRG Energy, Inc. (NYSE:NRG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 110,000 shares of the utilities provider’s stock, valued at approximately $2,815,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Aviva PLC raised its position in NRG Energy by 5.5% during the second quarter. Aviva PLC now owns 196,771 shares of the utilities provider’s stock worth $3,388,000 after acquiring an additional 10,240 shares during the last quarter. Arizona State Retirement System raised 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 acquiring an additional 200 shares during the last quarter. SG Americas Securities LLC raised 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 acquiring an additional 64,020 shares during the last quarter. Elliott Management Corp raised its position in NRG Energy by 8.4% during the second quarter. Elliott Management Corp now owns 19,600,000 shares of the utilities provider’s stock worth $337,512,000 after acquiring an additional 1,526,394 shares during the last quarter. Finally, Dorsey Wright & Associates acquired a new position in NRG Energy during the second quarter worth about $2,199,000. Institutional investors own 91.79% of the company’s stock.
A number of equities analysts have issued reports on NRG shares. Bank of America Corporation started coverage on shares of NRG Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $31.00 target price for the company. Zacks Investment Research upgraded shares of NRG Energy from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. ValuEngine cut shares of NRG Energy from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 27th. SunTrust Banks, Inc. restated a “hold” rating and set a $25.00 target price on shares of NRG Energy in a research report on Friday, October 20th. Finally, BidaskClub upgraded shares of NRG Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. NRG Energy presently has a consensus rating of “Buy” and a consensus price target of $24.67.
Shares of NRG Energy, Inc. (NRG) traded up $0.53 during midday trading on Monday, hitting $28.35. 6,410,000 shares of the stock were exchanged, compared to its average volume of 6,243,990. The stock has a market capitalization of $8,980.00, a P/E ratio of 21.00 and a beta of 1.25. NRG Energy, Inc. has a 1-year low of $10.75 and a 1-year high of $28.67. 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 issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.51). The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.28 billion. NRG Energy had a positive return on equity of 8.82% and a negative net margin of 13.48%. The business’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.27 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be issued a dividend of $0.03 per share. The ex-dividend date is Tuesday, October 31st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.42%. NRG Energy’s dividend payout ratio (DPR) is presently -4.76%.
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In related news, Director Barry T. Smitherman bought 2,541 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average cost of $28.38 per share, for a total transaction of $72,113.58. Following the completion of the acquisition, the director now owns 49,000 shares in the company, valued at $1,390,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is currently owned by insiders.
NRG Energy Company 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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