US Bancorp DE Acquires 1,827 Shares of NRG Energy, Inc. (NRG)
US Bancorp DE raised its position in NRG Energy, Inc. (NYSE:NRG) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 38,502 shares of the utilities provider’s stock after buying an additional 1,827 shares during the period. US Bancorp DE’s holdings in NRG Energy were worth $663,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of NRG Energy by 1.7% in the first quarter. Vanguard Group Inc. now owns 33,215,788 shares of the utilities provider’s stock worth $621,135,000 after buying an additional 556,447 shares in the last quarter. BlackRock Inc. boosted its stake in shares of NRG Energy by 5,026.6% in the first quarter. BlackRock Inc. now owns 19,983,017 shares of the utilities provider’s stock worth $373,684,000 after buying an additional 19,593,226 shares in the last quarter. Elliott Management Corp boosted its stake in shares of NRG Energy by 313.1% in the first quarter. Elliott Management Corp now owns 18,073,606 shares of the utilities provider’s stock worth $337,976,000 after buying an additional 13,698,367 shares in the last quarter. Brahman Capital Corp. acquired a new stake in shares of NRG Energy during the first quarter worth $186,827,000. Finally, FMR LLC boosted its stake in shares of NRG Energy by 449.8% in the first quarter. FMR LLC now owns 6,986,918 shares of the utilities provider’s stock worth $130,656,000 after buying an additional 5,716,029 shares in the last quarter. Hedge funds and other institutional investors own 91.30% of the company’s stock.
Shares of NRG Energy, Inc. (NYSE NRG) traded up 1.844% during mid-day trading on Monday, hitting $25.125. 1,916,179 shares of the company traded hands. NRG Energy, Inc. has a 52-week low of $9.84 and a 52-week high of $25.68. The firm’s market cap is $7.95 billion. The firm has a 50-day moving average price of $21.63 and a 200 day moving average price of $18.12.
NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.31. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $3.19 billion. NRG Energy had a negative net margin of 10.67% and a positive return on equity of 12.38%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.61) earnings per share. Equities research analysts anticipate that NRG Energy, Inc. will post $0.59 EPS for the current fiscal year.
The business also recently disclosed 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 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Friday, July 28th. NRG Energy’s payout ratio is currently -2.75%.
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NRG has been the subject of a number of recent research reports. Williams Capital initiated coverage on shares of NRG Energy in a research note on Thursday, June 1st. They set a “buy” rating and a $20.00 price target for the company. ValuEngine cut shares of NRG Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub upgraded shares of NRG Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research cut shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, April 25th. Finally, Barclays PLC restated an “overweight” rating and issued 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 given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $21.13.
NRG Energy Company 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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