NRG Energy, Inc. (NRG) Holdings Lifted by Elliott Management Corp
Elliott Management Corp raised its position in NRG Energy, Inc. (NYSE:NRG) by 8.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,600,000 shares of the utilities provider’s stock after buying an additional 1,526,394 shares during the period. NRG Energy comprises 2.1% of Elliott Management Corp’s investment portfolio, making the stock its 11th biggest position. Elliott Management Corp owned approximately 6.19% of NRG Energy worth $337,512,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NRG. BlackRock Inc. increased its holdings in NRG Energy by 5,026.6% in the first quarter. BlackRock Inc. now owns 19,983,017 shares of the utilities provider’s stock valued at $373,684,000 after buying an additional 19,593,226 shares in the last quarter. Brahman Capital Corp. purchased a new position in NRG Energy in the first quarter valued at $186,827,000. FMR LLC increased its holdings in NRG Energy by 449.8% in the first quarter. FMR LLC now owns 6,986,918 shares of the utilities provider’s stock valued at $130,656,000 after buying an additional 5,716,029 shares in the last quarter. Janus Henderson Group PLC increased its holdings in NRG Energy by 42,970.1% in the second quarter. Janus Henderson Group PLC now owns 5,517,278 shares of the utilities provider’s stock valued at $95,007,000 after buying an additional 5,504,468 shares in the last quarter. Finally, Permian Investment Partners LP purchased a new position in NRG Energy in the first quarter valued at $73,546,000. 91.64% of the stock is owned by institutional investors.
A number of research firms have weighed in on NRG. BidaskClub raised shares of NRG Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. ValuEngine raised shares of NRG Energy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Zacks Investment Research raised shares of NRG Energy from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Tuesday, July 11th. Finally, Barclays PLC reissued an “overweight” rating and set a $27.00 target price 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. NRG Energy currently has a consensus rating of “Buy” and a consensus price target of $22.25.
Shares of NRG Energy, Inc. (NYSE:NRG) traded down 0.31% during trading on Friday, hitting $25.49. 4,376,787 shares of the stock traded hands. NRG Energy, Inc. has a 52-week low of $9.84 and a 52-week high of $26.25. The firm’s market cap is $8.07 billion. The company’s 50 day moving average is $24.65 and its 200 day moving average is $20.28.
NRG Energy (NYSE:NRG) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period last year, the company earned ($0.61) earnings per share. The company’s quarterly revenue was up 20.2% on a year-over-year basis. On average, equities research analysts predict that NRG Energy, Inc. will post $0.34 EPS for the current year.
NRG Energy Profile
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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