Advisors Asset Management Inc. Sells 275,876 Shares of NRG Energy, Inc. (NRG)
Advisors Asset Management Inc. decreased its position in shares of NRG Energy, Inc. (NYSE:NRG) by 81.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,782 shares of the utilities provider’s stock after selling 275,876 shares during the period. Advisors Asset Management Inc.’s holdings in NRG Energy were worth $1,116,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Ameritas Investment Partners Inc. acquired a new stake in shares of NRG Energy during the first quarter worth approximately $141,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of NRG Energy during the second quarter worth approximately $186,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of NRG Energy during the first quarter worth approximately $194,000. LS Investment Advisors LLC raised its stake in shares of NRG Energy by 13.8% in the second quarter. LS Investment Advisors LLC now owns 12,232 shares of the utilities provider’s stock worth $211,000 after buying an additional 1,483 shares during the period. Finally, Thrivent Financial For Lutherans raised its stake in shares of NRG Energy by 5.9% in the first quarter. Thrivent Financial For Lutherans now owns 11,560 shares of the utilities provider’s stock worth $216,000 after buying an additional 640 shares during the period. Institutional investors and hedge funds own 91.65% of the company’s stock.
NRG Energy, Inc. (NYSE:NRG) opened at 24.57 on Tuesday. NRG Energy, Inc. has a 52-week low of $9.84 and a 52-week high of $26.25. The company’s market cap is $7.78 billion. The company’s 50-day moving average is $23.83 and its 200 day moving average is $18.76.
NRG Energy (NYSE:NRG) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.19 billion. NRG Energy had a positive return on equity of 12.38% and a negative net margin of 10.67%. The company’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.61) earnings per share. Equities analysts forecast that NRG Energy, Inc. will post $0.59 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.49%. The ex-dividend date was Friday, July 28th. NRG Energy’s dividend payout ratio (DPR) is -2.75%.
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A number of brokerages have commented on NRG. UBS AG upgraded shares of NRG Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $19.00 to $20.00 in a research note on Thursday, June 1st. BidaskClub upgraded shares of NRG Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. ValuEngine upgraded shares of NRG Energy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded shares of NRG Energy from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Tuesday, July 11th. Finally, Barclays PLC restated an “overweight” rating and set a $27.00 price target on shares of NRG Energy in a research note on Thursday, July 13th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $21.13.
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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