Zurcher Kantonalbank Zurich Cantonalbank Acquires 35,661 Shares of NRG Energy, Inc. $NRG

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of NRG Energy, Inc. (NYSE:NRG) by 13.6% during the 4th quarter, Holdings Channel reports. The firm owned 297,908 shares of the utilities provider’s stock after buying an additional 35,661 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NRG Energy were worth $47,439,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of NRG Energy by 41.8% during the fourth quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider’s stock valued at $468,000 after buying an additional 1,528 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of NRG Energy during the first quarter worth $323,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of NRG Energy by 7.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,257 shares of the utilities provider’s stock worth $1,934,000 after acquiring an additional 1,381 shares during the last quarter. Woodline Partners LP grew its stake in NRG Energy by 40.7% during the first quarter. Woodline Partners LP now owns 17,114 shares of the utilities provider’s stock valued at $1,634,000 after acquiring an additional 4,949 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in NRG Energy in the 2nd quarter valued at $7,937,000. 97.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on NRG shares. Weiss Ratings downgraded shares of NRG Energy from a “buy (b)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Barclays reduced their target price on NRG Energy from $203.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, March 31st. Raymond James Financial reissued a “strong-buy” rating and set a $225.00 price target on shares of NRG Energy in a research note on Monday, February 23rd. Wolfe Research raised NRG Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research note on Wednesday, March 18th. Finally, Morgan Stanley set a $153.00 price objective on NRG Energy in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.21.

NRG Energy Stock Down 6.4%

Shares of NYSE:NRG opened at $157.00 on Tuesday. The company has a market cap of $33.69 billion, a price-to-earnings ratio of 39.85 and a beta of 1.35. NRG Energy, Inc. has a 12 month low of $90.84 and a 12 month high of $189.96. The company has a current ratio of 1.64, a quick ratio of 1.58 and a debt-to-equity ratio of 15.92. The company has a 50-day moving average price of $161.33 and a 200 day moving average price of $161.37.

NRG Energy (NYSE:NRG) last issued its quarterly earnings data on Tuesday, February 24th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.15). The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $6.68 billion. NRG Energy had a net margin of 2.81% and a return on equity of 109.48%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the company earned $1.56 earnings per share. As a group, equities research analysts predict that NRG Energy, Inc. will post 8.82 earnings per share for the current year.

NRG Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, February 2nd. This is a boost from NRG Energy’s previous quarterly dividend of $0.44. NRG Energy’s payout ratio is currently 48.22%.

Insider Transactions at NRG Energy

In related news, VP Virginia Kinney sold 5,000 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $156.65, for a total value of $783,250.00. Following the completion of the sale, the vice president directly owned 55,495 shares in the company, valued at $8,693,291.75. This trade represents a 8.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.43% of the stock is currently owned by corporate insiders.

About NRG Energy

NRG Energy (NYSE: NRG) is a U.S.-based integrated power company headquartered in Houston, Texas. The company develops, owns and operates a diversified portfolio of power generation assets and participates in wholesale and retail energy markets. NRG supplies electricity to utilities, commercial and industrial customers, and retail consumers, while also providing energy-related products and services designed to manage consumption and support reliability.

NRG’s generation mix includes conventional thermal plants as well as renewable and distributed energy resources.