NRG Energy Inc (NYSE:NRG) Short Interest Up 25.7% in May

NRG Energy Inc (NYSE:NRG) was the target of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 11,538,400 shares, an increase of 25.7% from the April 30th total of 9,181,300 shares. Currently, 4.2% of the company’s stock are short sold. Based on an average daily trading volume, of 3,570,000 shares, the short-interest ratio is currently 3.2 days.

A number of hedge funds have recently added to or reduced their stakes in the business. Moody National Bank Trust Division boosted its position in NRG Energy by 4.4% during the first quarter. Moody National Bank Trust Division now owns 5,744 shares of the utilities provider’s stock worth $244,000 after purchasing an additional 242 shares during the period. Waldron Private Wealth LLC boosted its position in shares of NRG Energy by 2.9% in the first quarter. Waldron Private Wealth LLC now owns 8,800 shares of the utilities provider’s stock valued at $373,000 after acquiring an additional 250 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of NRG Energy by 0.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 45,309 shares of the utilities provider’s stock valued at $1,925,000 after acquiring an additional 313 shares during the period. Wealthfront Advisers LLC boosted its position in shares of NRG Energy by 1.2% in the first quarter. Wealthfront Advisers LLC now owns 28,607 shares of the utilities provider’s stock valued at $1,215,000 after acquiring an additional 347 shares during the period. Finally, NewSquare Capital LLC boosted its position in shares of NRG Energy by 5.8% in the first quarter. NewSquare Capital LLC now owns 6,495 shares of the utilities provider’s stock valued at $276,000 after acquiring an additional 355 shares during the period. 99.74% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on NRG shares. Macquarie set a $48.00 target price on shares of NRG Energy and gave the stock a “buy” rating in a report on Friday, March 1st. Citigroup boosted their target price on shares of NRG Energy from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Deutsche Bank set a $43.00 target price on shares of NRG Energy and gave the stock a “hold” rating in a report on Friday, March 1st. ValuEngine downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Finally, Morgan Stanley restated an “equal weight” rating and set a $46.00 target price on shares of NRG Energy in a report on Monday, March 25th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. NRG Energy presently has an average rating of “Hold” and a consensus target price of $43.57.

NRG stock traded up $0.17 during midday trading on Thursday, reaching $34.97. 169,754 shares of the company were exchanged, compared to its average volume of 3,454,539. NRG Energy has a one year low of $29.90 and a one year high of $43.66. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 14.52 and a beta of 0.87.

NRG Energy (NYSE:NRG) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.05). NRG Energy had a negative return on equity of 125.35% and a net margin of 4.64%. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm earned $0.87 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. Research analysts expect that NRG Energy will post 4.12 EPS for the current fiscal year.

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.

Further Reading: Earnings Per Share (EPS)

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