Schwab Charles Investment Management Inc. Reduces Stake in NRG Energy Inc (NRG)
Schwab Charles Investment Management Inc. trimmed its position in NRG Energy Inc (NYSE:NRG) by 0.4% in the fourth quarter, Holdings Channel reports. The fund owned 1,650,696 shares of the utilities provider’s stock after selling 6,054 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in NRG Energy were worth $47,012,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Shell Asset Management Co. bought a new position in NRG Energy during the 3rd quarter worth $1,766,000. Crossmark Global Holdings Inc. bought a new position in NRG Energy during the 3rd quarter worth $1,299,000. Canada Pension Plan Investment Board raised its position in NRG Energy by 1.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 372,468 shares of the utilities provider’s stock worth $9,531,000 after purchasing an additional 4,700 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in NRG Energy during the 2nd quarter worth $1,032,000. Finally, Jennison Associates LLC raised its position in NRG Energy by 82.1% during the 3rd quarter. Jennison Associates LLC now owns 3,261,902 shares of the utilities provider’s stock worth $83,472,000 after purchasing an additional 1,470,410 shares during the last quarter. Institutional investors own 97.89% of the company’s stock.
Shares of NRG Energy Inc (NYSE:NRG) opened at $25.36 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.11 and a debt-to-equity ratio of 4.24. NRG Energy Inc has a 1-year low of $14.52 and a 1-year high of $29.78. The firm has a market capitalization of $8,077.53, a PE ratio of -4.97 and a beta of 1.15.
Several research analysts recently issued reports on NRG shares. Zacks Investment Research lowered NRG Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 3rd. Bank of America started coverage on NRG Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $31.00 target price for the company. ValuEngine lowered NRG Energy from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 27th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $25.00 target price on shares of NRG Energy in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. NRG Energy has a consensus rating of “Buy” and an average target price of $24.67.
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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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