NRG Yield, Inc. Class C (NYLD) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of NRG Yield, Inc. Class C (NYSE:NYLD) from a strong sell rating to a hold rating in a research note published on Wednesday morning.
According to Zacks, “NRG Yield, Inc. acquires, owns and operates contracted renewable and conventional generation as well as thermal infrastructure assets primarily in the United States through its subsidiaries. NRG Yield, Inc. is based in Princeton, New Jersey. “
Other equities analysts have also issued research reports about the company. Guggenheim raised NRG Yield, Inc. Class C from a neutral rating to a buy rating in a research note on Tuesday, January 2nd. Royal Bank of Canada reaffirmed a hold rating and set a $17.00 price target on shares of NRG Yield, Inc. Class C in a research note on Wednesday, November 15th. Finally, Morgan Stanley cut their price target on NRG Yield, Inc. Class C from $21.00 to $18.00 and set an overweight rating on the stock in a research note on Tuesday, February 13th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $19.29.
NRG Yield, Inc. Class C (NYSE:NYLD) last issued its quarterly earnings results on Thursday, March 1st. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). NRG Yield, Inc. Class C had a negative net margin of 1.59% and a positive return on equity of 3.17%. The firm had revenue of $242.00 million for the quarter, compared to analyst estimates of $248.92 million. sell-side analysts expect that NRG Yield, Inc. Class C will post 0.89 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were paid a dividend of $0.298 per share. This represents a $1.19 annualized dividend and a dividend yield of 7.01%. The ex-dividend date was Wednesday, February 28th. This is a positive change from NRG Yield, Inc. Class C’s previous quarterly dividend of $0.29. NRG Yield, Inc. Class C’s dividend payout ratio is -594.97%.
In other news, insider Christopher S. Sotos purchased 6,200 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were acquired at an average price of $16.16 per share, with a total value of $100,192.00. Following the completion of the purchase, the insider now directly owns 16,600 shares of the company’s stock, valued at approximately $268,256. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invictus RG bought a new stake in NRG Yield, Inc. Class C in the third quarter valued at about $135,000. Whittier Trust Co. increased its holdings in NRG Yield, Inc. Class C by 77.2% in the fourth quarter. Whittier Trust Co. now owns 7,540 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 3,286 shares during the last quarter. Financial Gravity Companies Inc. bought a new stake in NRG Yield, Inc. Class C in the fourth quarter valued at about $176,000. Kayne Anderson Capital Advisors LP bought a new stake in NRG Yield, Inc. Class C in the fourth quarter valued at about $207,000. Finally, Wolverine Asset Management LLC bought a new stake in NRG Yield, Inc. Class C in the fourth quarter valued at about $208,000. Institutional investors and hedge funds own 29.13% of the company’s stock.
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NRG Yield, Inc. Class C Company Profile
NRG Yield, Inc serves as the primary vehicle, through which NRG Energy, Inc owns, operates and acquires contracted renewable and conventional generation and thermal infrastructure assets. It owns a diversified portfolio of contracted renewable and conventional generation and thermal infrastructure assets in the United States.
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