NRG Energy, Inc. (NRG) Stake Lowered by Cibc World Markets Corp
Cibc World Markets Corp reduced its holdings in NRG Energy, Inc. (NYSE:NRG) by 8.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 826,557 shares of the utilities provider’s stock after selling 73,509 shares during the quarter. Cibc World Markets Corp owned about 0.26% of NRG Energy worth $14,233,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of NRG Energy by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 33,215,788 shares of the utilities provider’s stock valued at $621,135,000 after buying an additional 556,447 shares during the period. BlackRock Inc. increased its stake in NRG Energy by 5,026.6% in the 1st quarter. BlackRock Inc. now owns 19,983,017 shares of the utilities provider’s stock valued at $373,684,000 after purchasing an additional 19,593,226 shares in the last quarter. Elliott Management Corp increased its stake in NRG Energy by 313.1% in the 1st quarter. Elliott Management Corp now owns 18,073,606 shares of the utilities provider’s stock valued at $337,976,000 after purchasing an additional 13,698,367 shares in the last quarter. Brahman Capital Corp. purchased a new position in NRG Energy in the 1st quarter valued at approximately $186,827,000. Finally, FMR LLC increased its stake in NRG Energy by 8.6% in the 2nd quarter. FMR LLC now owns 7,584,875 shares of the utilities provider’s stock valued at $130,612,000 after purchasing an additional 597,957 shares in the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.
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Several equities analysts recently weighed in on NRG shares. Williams Capital started coverage on NRG Energy in a research note on Thursday, June 1st. They issued a “buy” rating and a $20.00 price objective for the company. ValuEngine downgraded NRG Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub raised NRG Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Barclays PLC reaffirmed an “overweight” rating and issued a $27.00 price objective on shares of NRG Energy in a research note on Thursday, July 13th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised NRG Energy from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Tuesday, September 12th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $22.25.
NRG Energy, Inc. (NYSE NRG) traded down 1.03% during trading on Friday, reaching $23.94. The company’s stock had a trading volume of 3,382,596 shares. The firm’s market capitalization is $7.58 billion. NRG Energy, Inc. has a 52 week low of $9.84 and a 52 week high of $26.25. The firm has a 50-day moving average price of $24.59 and a 200-day moving average price of $19.63.
NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.31. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations 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 revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.61) earnings per share. On average, equities analysts anticipate that NRG Energy, Inc. will post $0.34 EPS for the current fiscal 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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