Geode Capital Management LLC grew its holdings in NRG Energy Inc (NYSE:NRG) by 17.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,821,667 shares of the utilities provider’s stock after acquiring an additional 727,114 shares during the quarter. Geode Capital Management LLC’s holdings in NRG Energy were worth $190,674,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in NRG. Oregon Public Employees Retirement Fund lifted its stake in shares of NRG Energy by 3,810.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,282,327 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 1,249,537 shares during the period. BlackRock Inc. raised its stake in NRG Energy by 5.8% during the 4th quarter. BlackRock Inc. now owns 19,705,439 shares of the utilities provider’s stock worth $780,337,000 after buying an additional 1,079,801 shares during the period. Bank of New York Mellon Corp raised its stake in NRG Energy by 32.3% during the 4th quarter. Bank of New York Mellon Corp now owns 4,174,057 shares of the utilities provider’s stock worth $165,293,000 after buying an additional 1,020,003 shares during the period. First Trust Advisors LP raised its stake in NRG Energy by 199.6% during the 4th quarter. First Trust Advisors LP now owns 397,622 shares of the utilities provider’s stock worth $15,746,000 after buying an additional 264,906 shares during the period. Finally, Bank of Montreal Can raised its stake in NRG Energy by 81.3% during the 4th quarter. Bank of Montreal Can now owns 533,258 shares of the utilities provider’s stock worth $21,116,000 after buying an additional 239,068 shares during the period. 97.24% of the stock is currently owned by institutional investors.
NRG has been the topic of a number of research reports. Deutsche Bank set a $43.00 price target on NRG Energy and gave the stock a “hold” rating in a research note on Friday, March 1st. Macquarie set a $48.00 price target on NRG Energy and gave the stock a “buy” rating in a research note on Friday, March 1st. ValuEngine raised NRG Energy from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Morgan Stanley set a $46.00 price target on NRG Energy and gave the stock a “hold” rating in a research note on Thursday, May 16th. Finally, Citigroup upped their price target on NRG Energy from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $43.57.
NRG stock opened at $35.53 on Friday. NRG Energy Inc has a fifty-two week low of $29.90 and a fifty-two week high of $43.66. The company has a market cap of $9.75 billion, a P/E ratio of 14.74 and a beta of 0.75.
NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. NRG Energy had a negative return on equity of 125.35% and a net margin of 4.64%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.87 earnings per share. Analysts anticipate that NRG Energy Inc will post 4.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Tuesday, April 30th. NRG Energy’s dividend payout ratio (DPR) is presently 4.98%.
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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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