Gateway Investment Advisers LLC lowered its stake in shares of NRG Energy Inc (NYSE:NRG) by 12.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,870 shares of the utilities provider’s stock after selling 1,714 shares during the quarter. Gateway Investment Advisers LLC’s holdings in NRG Energy were worth $504,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in NRG Energy by 5.0% in the third quarter. Bank of New York Mellon Corp now owns 3,154,054 shares of the utilities provider’s stock valued at $117,960,000 after acquiring an additional 151,573 shares during the last quarter. Martingale Asset Management L P purchased a new stake in NRG Energy in the third quarter valued at $3,440,000. First Republic Investment Management Inc. purchased a new stake in NRG Energy in the third quarter valued at $818,000. Pacer Advisors Inc. lifted its position in NRG Energy by 14.9% in the third quarter. Pacer Advisors Inc. now owns 14,806 shares of the utilities provider’s stock valued at $554,000 after acquiring an additional 1,922 shares during the last quarter. Finally, Vident Investment Advisory LLC lifted its position in NRG Energy by 18.5% in the third quarter. Vident Investment Advisory LLC now owns 12,288 shares of the utilities provider’s stock valued at $460,000 after acquiring an additional 1,919 shares during the last quarter. 97.24% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP David Callen sold 41,011 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $41.83, for a total transaction of $1,715,490.13. Following the transaction, the senior vice president now directly owns 58,130 shares in the company, valued at $2,431,577.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.56% of the company’s stock.
NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). NRG Energy had a negative return on equity of 125.35% and a net margin of 4.64%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm earned $0.87 earnings per share. The company’s revenue was up 4.8% compared to the same quarter last year. Research analysts anticipate that NRG Energy Inc will post 4.07 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.03 per share. The ex-dividend date is Tuesday, April 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.32%. NRG Energy’s dividend payout ratio (DPR) is 4.98%.
A number of research analysts have commented on the stock. Morgan Stanley restated an “equal weight” rating and issued a $46.00 price objective on shares of NRG Energy in a research note on Monday, March 25th. Citigroup lifted their price objective on shares of NRG Energy from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Deutsche Bank set a $43.00 price objective on shares of NRG Energy and gave the company a “hold” rating in a research note on Friday, March 1st. Macquarie set a $48.00 price objective on shares of NRG Energy and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, ValuEngine lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $44.14.
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NRG Energy Profile
NRG Energy, Inc, together with its subsidiaries, operates as an energy company in the United States. The company is involved in the producing, selling, and delivering electricity and related products and services to 3.1 million residential, industrial, and commercial consumers. It generates electricity using natural gas, coal, oil, solar, nuclear, wind, fossil fuel, and nuclear sources.
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