NRG Energy, Inc. (NRG) Position Decreased by CIBC Asset Management Inc
CIBC Asset Management Inc reduced its position in shares of NRG Energy, Inc. (NYSE:NRG) by 2.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 36,460 shares of the utilities provider’s stock after selling 779 shares during the period. CIBC Asset Management Inc’s holdings in NRG Energy were worth $628,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new stake in NRG Energy during the first quarter worth $141,000. Campbell & CO Investment Adviser LLC purchased a new stake in NRG Energy during the second quarter worth $186,000. Edmond DE Rothschild Holding S.A. purchased a new stake in NRG Energy during the first quarter worth $194,000. LS Investment Advisors LLC boosted its stake in 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 in the last quarter. Finally, Thrivent Financial For Lutherans boosted its stake in 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 in the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.
NRG Energy, Inc. (NRG) opened at 25.47 on Tuesday. The stock’s market capitalization is $8.06 billion. NRG Energy, Inc. has a 12 month low of $9.84 and a 12 month high of $25.68. The company has a 50 day moving average of $21.86 and a 200 day moving average of $18.21.
NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.31. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $3.19 billion. NRG Energy had a positive return on equity of 12.38% and a negative net margin of 10.67%. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.61) earnings per share. On average, equities analysts predict that NRG Energy, Inc. will post $0.59 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Friday, July 28th. NRG Energy’s dividend payout ratio (DPR) is -2.75%.
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NRG has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of NRG Energy from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Tuesday, July 11th. BidaskClub upgraded shares of NRG Energy from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. ValuEngine cut shares of NRG Energy from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Williams Capital initiated coverage on shares of NRG Energy in a report on Thursday, June 1st. They issued a “buy” rating and a $20.00 price target on the stock. Finally, UBS AG upgraded shares of NRG Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $19.00 to $20.00 in a report on Thursday, June 1st. One 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. The company 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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