NRG Energy, Inc. (NYSE:NRG) Stake Decreased by World Asset Management Inc
World Asset Management Inc decreased its stake in NRG Energy, Inc. (NYSE:NRG) by 13.6% during the second quarter, Holdings Channel reports. The fund owned 32,707 shares of the utilities provider’s stock after selling 5,164 shares during the period. World Asset Management Inc’s holdings in NRG Energy were worth $563,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its stake in NRG Energy by 6.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,920 shares of the utilities provider’s stock valued at $134,000 after buying an additional 680 shares during the last quarter. Teachers Advisors LLC raised its stake in NRG Energy by 5.8% in the fourth quarter. Teachers Advisors LLC now owns 392,722 shares of the utilities provider’s stock valued at $4,815,000 after buying an additional 21,422 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in NRG Energy during the fourth quarter valued at about $281,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in NRG Energy during the fourth quarter valued at about $125,000. Finally, Chevy Chase Trust Holdings Inc. raised its stake in NRG Energy by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 272,387 shares of the utilities provider’s stock valued at $5,094,000 after buying an additional 8,804 shares during the last quarter. 92.46% of the stock is currently owned by institutional investors and hedge funds.
NRG Energy, Inc. (NRG) opened at 24.33 on Thursday. The company has a 50-day moving average of $21.20 and a 200-day moving average of $18.02. The stock’s market capitalization is $7.69 billion. NRG Energy, Inc. has a 52 week low of $9.84 and a 52 week high of $25.43.
NRG Energy (NYSE:NRG) last issued its earnings results 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. NRG Energy had a negative net margin of 10.67% and a positive return on equity of 12.38%. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the business posted ($0.61) earnings per share. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. Analysts anticipate that NRG Energy, Inc. will post $0.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.12 annualized dividend and a yield of 0.49%. NRG Energy’s payout ratio is currently -2.75%.
NRG has been the topic of several recent analyst reports. Zacks Investment Research raised shares of NRG Energy from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, April 12th. Barclays PLC reissued an “overweight” rating and set a $20.00 target price (up from $19.00) on shares of NRG Energy in a research note on Sunday, April 23rd. UBS AG raised shares of NRG Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $19.00 to $20.00 in a research note on Thursday, June 1st. 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 target price on the stock. Finally, ValuEngine lowered shares of NRG Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price 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.
Want to see what other hedge funds are holding NRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NRG Energy, Inc. (NYSE:NRG).
Receive News & Ratings for NRG Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NRG Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.