Luminus Management LLC Has $57.92 Million Holdings in NRG Energy Inc (NRG)
Luminus Management LLC trimmed its holdings in shares of NRG Energy Inc (NYSE:NRG) by 73.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,886,522 shares of the utilities provider’s stock after selling 5,333,337 shares during the period. NRG Energy comprises about 1.3% of Luminus Management LLC’s portfolio, making the stock its 25th biggest holding. Luminus Management LLC’s holdings in NRG Energy were worth $57,916,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of NRG. Guidant Wealth Advisors increased its position in NRG Energy by 9,972.7% during the second quarter. Guidant Wealth Advisors now owns 2,216 shares of the utilities provider’s stock worth $109,000 after buying an additional 2,194 shares during the last quarter. Harvest Fund Management Co. Ltd increased its position in NRG Energy by 313.6% during the second quarter. Harvest Fund Management Co. Ltd now owns 3,747 shares of the utilities provider’s stock worth $115,000 after buying an additional 2,841 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in NRG Energy during the second quarter worth $130,000. IFP Advisors Inc increased its position in NRG Energy by 112.2% during the first quarter. IFP Advisors Inc now owns 4,352 shares of the utilities provider’s stock worth $133,000 after buying an additional 2,301 shares during the last quarter. Finally, Cerebellum GP LLC acquired a new position in NRG Energy during the second quarter worth $168,000. 98.90% of the stock is currently owned by hedge funds and other institutional investors.
NRG stock opened at $34.80 on Monday. The company has a debt-to-equity ratio of 7.16, a current ratio of 1.30 and a quick ratio of 1.17. NRG Energy Inc has a 52-week low of $22.90 and a 52-week high of $35.90. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 31.93 and a beta of 1.06.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Wednesday, August 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, July 31st. This represents a $0.12 annualized dividend and a dividend yield of 0.34%. NRG Energy’s dividend payout ratio is presently 11.01%.
NRG has been the topic of several analyst reports. ValuEngine downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 17th. Bank of America initiated coverage on shares of NRG Energy in a research report on Thursday, May 24th. They set a “buy” rating and a $37.00 target price on the stock. Zacks Investment Research downgraded shares of NRG Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Finally, Citigroup downgraded shares of NRG Energy from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research report on Monday, July 30th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $35.80.
In related news, SVP David Callen sold 9,200 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $33.21, for a total value of $305,532.00. Following the transaction, the senior vice president now owns 39,759 shares in the company, valued at approximately $1,320,396.39. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.38% of the stock is owned by insiders.
NRG Energy 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.
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