Envestnet Asset Management Inc. reduced its stake in shares of NRG Energy Inc (NYSE:NRG) by 28.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 109,006 shares of the utilities provider’s stock after selling 42,308 shares during the period. Envestnet Asset Management Inc.’s holdings in NRG Energy were worth $3,828,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Waldron Private Wealth LLC increased its position in shares of NRG Energy by 2.9% in the first quarter. Waldron Private Wealth LLC now owns 8,800 shares of the utilities provider’s stock valued at $373,000 after acquiring an additional 250 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in NRG Energy by 0.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 45,309 shares of the utilities provider’s stock worth $1,925,000 after acquiring an additional 313 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in NRG Energy by 1.2% during the first quarter. Wealthfront Advisers LLC now owns 28,607 shares of the utilities provider’s stock worth $1,215,000 after acquiring an additional 347 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in NRG Energy by 6.2% during the first quarter. First Republic Investment Management Inc. now owns 6,747 shares of the utilities provider’s stock worth $287,000 after acquiring an additional 395 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. boosted its stake in NRG Energy by 0.5% during the first quarter. Piedmont Investment Advisors Inc. now owns 77,561 shares of the utilities provider’s stock worth $3,295,000 after acquiring an additional 421 shares in the last quarter. 96.17% of the stock is owned by institutional investors.
Shares of NYSE:NRG opened at $38.29 on Friday. The firm has a fifty day moving average price of $35.43 and a 200 day moving average price of $37.67. NRG Energy Inc has a fifty-two week low of $32.63 and a fifty-two week high of $43.66. The firm has a market cap of $9.61 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 0.27 and a beta of 0.78.
NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.08). NRG Energy had a net margin of 6.20% and a negative return on equity of 45.11%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the firm posted $0.31 EPS. The company’s revenue was up .2% compared to the same quarter last year. Equities research analysts anticipate that NRG Energy Inc will post 3.82 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a $0.12 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $0.48 dividend on an annualized basis and a yield of 1.25%. This is a boost from NRG Energy’s previous quarterly dividend of $0.03. NRG Energy’s dividend payout ratio is presently 4.98%.
Several research firms recently commented on NRG. Zacks Investment Research raised shares of NRG Energy from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Tuesday, August 20th. Morgan Stanley upgraded shares of NRG Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $47.00 to $49.00 in a research note on Friday, September 6th. ValuEngine downgraded shares of NRG Energy from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Goldman Sachs Group upgraded shares of NRG Energy from a “buy” rating to a “conviction-buy” rating and set a $56.00 price objective on the stock in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $45.13.
About NRG Energy
NRG Energy, Inc, together with its subsidiaries, operates as an energy company in the United States. The company is involved in the producing, selling, and delivering electricity and related products and services to 3.1 million residential, industrial, and commercial consumers. It generates electricity using natural gas, coal, oil, solar, nuclear, wind, fossil fuel, and nuclear sources.
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