Oregon Public Employees Retirement Fund Increases Stake in NRG Energy Inc (NRG)
Oregon Public Employees Retirement Fund lifted its holdings in shares of NRG Energy Inc (NYSE:NRG) by 129.1% during the first quarter, Holdings Channel reports. The fund owned 74,186 shares of the utilities provider’s stock after purchasing an additional 41,804 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in NRG Energy were worth $3,151,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in NRG. MERIAN GLOBAL INVESTORS UK Ltd lifted its holdings in shares of NRG Energy by 171.3% during the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 132,456 shares of the utilities provider’s stock worth $5,626,000 after purchasing an additional 83,635 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of NRG Energy during the first quarter worth $31,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of NRG Energy by 3.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,428 shares of the utilities provider’s stock worth $698,000 after purchasing an additional 611 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of NRG Energy by 0.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 45,309 shares of the utilities provider’s stock worth $1,925,000 after purchasing an additional 313 shares during the period. Finally, Hartree Partners LP lifted its holdings in shares of NRG Energy by 168.9% during the first quarter. Hartree Partners LP now owns 121,000 shares of the utilities provider’s stock worth $5,140,000 after purchasing an additional 76,000 shares during the period. Institutional investors and hedge funds own 97.24% of the company’s stock.
In other NRG Energy news, SVP David Callen sold 41,011 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $41.83, for a total value of $1,715,490.13. Following the completion of the sale, the senior vice president now owns 58,130 shares of the company’s stock, valued at $2,431,577.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by company insiders.
NRG Energy (NYSE:NRG) last released its earnings results on Thursday, May 2nd. The utilities provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). NRG Energy had a net margin of 4.64% and a negative return on equity of 125.35%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the business posted $0.87 EPS. NRG Energy’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts expect that NRG Energy Inc will post 4.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Tuesday, April 30th. NRG Energy’s dividend payout ratio (DPR) is currently 4.98%.
NRG has been the subject of several recent research reports. Macquarie set a $48.00 price target on NRG Energy and gave the stock a “buy” rating in a report on Friday, March 1st. ValuEngine raised NRG Energy from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Citigroup raised their target price on NRG Energy from $47.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Zacks Investment Research raised NRG Energy from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Wednesday, January 23rd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $46.00 target price on shares of NRG Energy in a report on Monday, March 25th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $43.57.
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About NRG Energy
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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