WEALTHFRONT Corp Decreases Holdings in NRG Energy Inc (NRG)
WEALTHFRONT Corp lowered its position in NRG Energy Inc (NYSE:NRG) by 9.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 24,953 shares of the utilities provider’s stock after selling 2,584 shares during the period. WEALTHFRONT Corp’s holdings in NRG Energy were worth $933,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in NRG. Stratos Wealth Partners LTD. purchased a new position in NRG Energy in the 3rd quarter valued at $145,000. Wealthsource Partners LLC purchased a new position in NRG Energy in the 3rd quarter valued at $204,000. Moody National Bank Trust Division purchased a new position in NRG Energy in the 3rd quarter valued at $206,000. Pinebridge Investments L.P. lifted its holdings in NRG Energy by 113.4% in the 2nd quarter. Pinebridge Investments L.P. now owns 7,085 shares of the utilities provider’s stock valued at $218,000 after purchasing an additional 3,765 shares in the last quarter. Finally, Conning Inc. purchased a new position in NRG Energy in the 3rd quarter valued at $231,000. Institutional investors own 97.51% of the company’s stock.
A number of research analysts have weighed in on NRG shares. ValuEngine upgraded NRG Energy from a “hold” rating to a “buy” rating in a report on Saturday, October 6th. Macquarie raised their price objective on NRG Energy from $40.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, September 20th. Bank of America raised their price objective on NRG Energy from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, September 27th. Zacks Investment Research lowered NRG Energy from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Finally, SunTrust Banks raised their price objective on NRG Energy from $35.00 to $36.00 and gave the company a “hold” rating in a report on Monday, October 29th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $38.17.
NYSE NRG opened at $40.53 on Friday. NRG Energy Inc has a 52 week low of $23.75 and a 52 week high of $41.29. The company has a debt-to-equity ratio of 7.16, a quick ratio of 1.42 and a current ratio of 1.57. The firm has a market cap of $11.76 billion, a PE ratio of 37.18 and a beta of 1.05.
NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, November 8th. The utilities provider reported $0.94 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.18). NRG Energy had a positive return on equity of 61.11% and a negative net margin of 11.52%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. Sell-side analysts expect that NRG Energy Inc will post 3 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $0.12 annualized dividend and a dividend yield of 0.30%. NRG Energy’s dividend payout ratio is presently 11.01%.
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About NRG Energy
NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. The company is involved in the generation of electricity using fossil fuel and nuclear sources. The company provides electricity to 2.9 million residential, commercial, and industrial consumers; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; and carbon management and specialty services.
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