Legal & General Group Plc Sells 38,065 Shares of NRG Energy, Inc. (NRG)
Legal & General Group Plc cut its position in NRG Energy, Inc. (NYSE:NRG) by 2.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,642,807 shares of the utilities provider’s stock after selling 38,065 shares during the period. Legal & General Group Plc owned approximately 0.52% of NRG Energy worth $28,290,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of NRG. SG Americas Securities LLC boosted its position in shares of NRG Energy by 694.4% in the second quarter. SG Americas Securities LLC now owns 73,240 shares of the utilities provider’s stock worth $1,261,000 after buying an additional 64,020 shares during the last quarter. LMR Partners LLP boosted its position in shares of NRG Energy by 38.5% in the second quarter. LMR Partners LLP now owns 33,684 shares of the utilities provider’s stock worth $580,000 after buying an additional 9,363 shares during the last quarter. IFC Holdings Incorporated FL bought a new position in shares of NRG Energy during the second quarter worth about $504,000. Rhumbline Advisers boosted its position in shares of NRG Energy by 1.8% in the second quarter. Rhumbline Advisers now owns 528,937 shares of the utilities provider’s stock worth $9,108,000 after buying an additional 9,287 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of NRG Energy by 1.9% in the second quarter. Teacher Retirement System of Texas now owns 25,361 shares of the utilities provider’s stock worth $437,000 after buying an additional 479 shares during the last quarter. 91.65% of the stock is owned by institutional investors and hedge funds.
Shares of NRG Energy, Inc. (NYSE NRG) opened at 24.91 on Friday. The firm’s market capitalization is $7.88 billion. NRG Energy, Inc. has a 12-month low of $9.84 and a 12-month high of $26.25. The company’s 50-day moving average price is $24.65 and its 200-day moving average price is $19.00.
NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.05 by $0.31. NRG Energy had a negative net margin of 10.67% and a positive return on equity of 12.38%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the previous year, the business earned ($0.61) earnings per share. The company’s revenue was up 20.2% on a year-over-year basis. Analysts anticipate that NRG Energy, Inc. will post $0.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were given a dividend of $0.03 per share. The ex-dividend date was Friday, July 28th. This represents a $0.12 annualized dividend and a yield of 0.48%. NRG Energy’s dividend payout ratio is currently -2.75%.
A number of equities analysts have recently issued reports on the company. 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 target price on shares of NRG Energy in a report on Thursday, July 13th. They noted that the move was a valuation call. Zacks Investment Research raised NRG Energy from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Tuesday, July 11th. 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 target price for the company. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus 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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