NRG Energy, Inc. (NRG) Stake Lowered by Stevens Capital Management LP
Stevens Capital Management LP lessened its position in NRG Energy, Inc. (NYSE:NRG) by 68.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 27,317 shares of the utilities provider’s stock after selling 58,340 shares during the period. Stevens Capital Management LP’s holdings in NRG Energy were worth $699,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Fieldpoint Private Securities LLC acquired a new stake in shares of NRG Energy in the 2nd quarter worth $112,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of NRG Energy in the 3rd quarter worth $211,000. Ballentine Partners LLC acquired a new stake in shares of NRG Energy in the 2nd quarter worth $209,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of NRG Energy in the 3rd quarter worth $245,000. Finally, ARP Americas LLC acquired a new stake in shares of NRG Energy in the 3rd quarter worth $258,000. Institutional investors own 91.79% of the company’s stock.
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NRG has been the subject of several recent analyst reports. Bank of America Corporation initiated coverage on shares of NRG Energy in a research note on Tuesday, October 24th. They issued a “buy” rating and a $31.00 price objective for the company. Zacks Investment Research upgraded shares of NRG Energy from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. ValuEngine cut shares of NRG Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 27th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $25.00 price objective on shares of NRG Energy in a research note on Friday, October 20th. Finally, BidaskClub upgraded shares of NRG Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. NRG Energy presently has a consensus rating of “Buy” and an average price target of $24.67.
In other news, Director Barry T. Smitherman purchased 2,541 shares of the stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $28.38 per share, for a total transaction of $72,113.58. Following the completion of the acquisition, the director now directly owns 49,000 shares in the company, valued at approximately $1,390,620. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.31% of the company’s stock.
NRG Energy, Inc. (NYSE NRG) opened at $29.44 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.11 and a debt-to-equity ratio of 4.24. NRG Energy, Inc. has a twelve month low of $10.75 and a twelve month high of $29.78. The firm has a market cap of $9,299.77, a PE ratio of 21.76 and a beta of 1.25.
NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.51). The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.28 billion. NRG Energy had a positive return on equity of 8.82% and a negative net margin of 13.48%. The business’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.27 earnings per share. equities research analysts anticipate that NRG Energy, Inc. will post 0.56 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.41%. NRG Energy’s dividend payout ratio (DPR) is presently -2.35%.
About NRG Energy
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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