Jennison Associates LLC lifted its stake in NRG Energy, Inc. (NYSE:NRG) by 82.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,261,902 shares of the utilities provider’s stock after buying an additional 1,470,410 shares during the period. Jennison Associates LLC owned approximately 1.03% of NRG Energy worth $83,472,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Elliott Management Corp grew its position in shares of NRG Energy by 8.4% in the 2nd quarter. Elliott Management Corp now owns 19,600,000 shares of the utilities provider’s stock valued at $337,512,000 after buying an additional 1,526,394 shares during the last quarter. FMR LLC grew its position in shares of 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 buying an additional 597,957 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of NRG Energy by 38.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,369,761 shares of the utilities provider’s stock valued at $109,682,000 after buying an additional 1,772,966 shares during the last quarter. Permian Investment Partners LP grew its position in shares of NRG Energy by 51.0% in the 2nd quarter. Permian Investment Partners LP now owns 5,938,024 shares of the utilities provider’s stock valued at $102,253,000 after buying an additional 2,005,094 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of NRG Energy by 42,970.1% in the 2nd quarter. Janus Henderson Group PLC now owns 5,517,278 shares of the utilities provider’s stock valued at $95,007,000 after buying an additional 5,504,468 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on NRG shares. Bank of America Corporation initiated coverage on shares of NRG Energy in a research report on Tuesday, October 24th. They issued a “buy” rating and a $31.00 target price on the stock. Zacks Investment Research raised shares of NRG Energy from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. ValuEngine downgraded shares of NRG Energy from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 27th. SunTrust Banks, Inc. reissued a “hold” rating and set a $25.00 price objective on shares of NRG Energy in a research report on Friday, October 20th. Finally, BidaskClub raised shares of NRG Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. NRG Energy currently has an average rating of “Buy” and a consensus price target of $24.67.
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In other news, Director Barry T. Smitherman bought 2,541 shares of NRG Energy stock in a transaction dated Monday, November 6th. The stock was bought at an average price of $28.38 per share, for a total transaction of $72,113.58. Following the purchase, the director now owns 49,000 shares of the company’s stock, valued at $1,390,620. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.31% of the stock is currently owned by company insiders.
NRG Energy, Inc. (NRG) traded up $0.53 during mid-day trading on Monday, hitting $28.35. 6,410,000 shares of the stock traded hands, compared to its average volume of 6,243,990. NRG Energy, Inc. has a one year low of $10.75 and a one year high of $28.67. The firm has a market cap of $8,980.00, a PE ratio of 21.00 and a beta of 1.25. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.28 and a quick ratio of 1.11.
NRG Energy (NYSE:NRG) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.51). NRG Energy had a positive return on equity of 8.82% and a negative net margin of 13.48%. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the business posted $1.27 EPS. The firm’s revenue was down 10.9% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Tuesday, October 31st. NRG Energy’s dividend payout ratio (DPR) is presently -4.76%.
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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