Employees Retirement System of Texas Boosts Stake in NRG Energy Inc (NRG)
Employees Retirement System of Texas increased its position in NRG Energy Inc (NYSE:NRG) by 100.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,000 shares of the utilities provider’s stock after buying an additional 36,000 shares during the quarter. Employees Retirement System of Texas’ holdings in NRG Energy were worth $2,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its stake in shares of NRG Energy by 27.0% in the first quarter. Toronto Dominion Bank now owns 142,006 shares of the utilities provider’s stock valued at $4,335,000 after buying an additional 30,158 shares during the period. Bowling Portfolio Management LLC acquired a new position in shares of NRG Energy in the second quarter valued at approximately $1,099,000. MUFG Securities EMEA plc acquired a new position in shares of NRG Energy in the second quarter valued at approximately $10,553,000. Schwab Charles Investment Management Inc. increased its stake in shares of NRG Energy by 0.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,663,411 shares of the utilities provider’s stock valued at $50,784,000 after buying an additional 12,715 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of NRG Energy by 202.6% in the first quarter. Allianz Asset Management GmbH now owns 48,461 shares of the utilities provider’s stock valued at $1,480,000 after buying an additional 32,447 shares during the period. 98.90% of the stock is owned by institutional investors.
Several research firms have recently issued reports on NRG. Citigroup raised NRG Energy from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Monday, August 6th. Zacks Investment Research downgraded NRG Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Bank of America lowered their price objective on NRG Energy from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, July 25th. Finally, ValuEngine downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Thursday, May 17th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $35.80.
NRG Energy (NYSE:NRG) last released its earnings results on Thursday, August 2nd. The utilities provider reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.55). The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.72 billion. NRG Energy had a negative net margin of 9.30% and a positive return on equity of 29.44%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. sell-side analysts predict that NRG Energy Inc will post 4.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Wednesday, August 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Tuesday, July 31st. NRG Energy’s dividend payout ratio is presently 11.01%.
In other NRG Energy news, SVP David Callen sold 9,200 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $33.21, for a total transaction of $305,532.00. Following the completion of the sale, the senior vice president now owns 39,759 shares of the company’s stock, valued at approximately $1,320,396.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.
NRG Energy Company Profile
NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. The company is involved in the generation of electricity using fossil fuel and nuclear sources. The company provides electricity to 2.9 million residential, commercial, and industrial consumers; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; and carbon management and specialty services.
Recommended Story: Asset Allocation Models, Which is Right For You?
Want to see what other hedge funds are holding NRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NRG Energy Inc (NYSE:NRG).
Receive News & Ratings for NRG Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NRG Energy and related companies with MarketBeat.com's FREE daily email newsletter.