NRG Energy Inc (NYSE:NRG) Stock Holdings Boosted by Convergence Investment Partners LLC

Convergence Investment Partners LLC lifted its position in shares of NRG Energy Inc (NYSE:NRG) by 102.5% in the 2nd quarter, Holdings Channel reports. The fund owned 48,817 shares of the utilities provider’s stock after buying an additional 24,708 shares during the period. Convergence Investment Partners LLC’s holdings in NRG Energy were worth $1,589,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its holdings in NRG Energy by 49.3% in the first quarter. Janus Henderson Group PLC now owns 7,344,429 shares of the utilities provider’s stock worth $200,209,000 after purchasing an additional 2,424,235 shares during the period. Wellington Management Group LLP lifted its holdings in NRG Energy by 15.3% in the first quarter. Wellington Management Group LLP now owns 5,208,232 shares of the utilities provider’s stock worth $141,977,000 after purchasing an additional 690,269 shares during the period. Geode Capital Management LLC lifted its holdings in NRG Energy by 2.3% in the first quarter. Geode Capital Management LLC now owns 4,173,498 shares of the utilities provider’s stock worth $113,563,000 after purchasing an additional 95,019 shares during the period. Bank of New York Mellon Corp lifted its holdings in NRG Energy by 18.1% in the first quarter. Bank of New York Mellon Corp now owns 4,143,998 shares of the utilities provider’s stock worth $112,964,000 after purchasing an additional 636,119 shares during the period. Finally, Royal Bank of Canada lifted its holdings in NRG Energy by 4.2% in the first quarter. Royal Bank of Canada now owns 2,198,475 shares of the utilities provider’s stock worth $59,929,000 after purchasing an additional 87,780 shares during the period. 98.03% of the stock is owned by institutional investors and hedge funds.

NYSE NRG traded up $0.26 on Friday, hitting $33.81. 1,914,135 shares of the company were exchanged, compared to its average volume of 2,276,184. The company’s 50 day moving average price is $33.35 and its 200-day moving average price is $33.59. The company has a debt-to-equity ratio of 4.09, a current ratio of 1.22 and a quick ratio of 1.09. The firm has a market capitalization of $8.26 billion, a P/E ratio of 2.17, a price-to-earnings-growth ratio of 0.16 and a beta of 1.06. NRG Energy Inc has a twelve month low of $19.54 and a twelve month high of $41.78.

NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Thursday, May 7th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.20). The company had revenue of $2.02 billion for the quarter. NRG Energy had a negative return on equity of 15,555.52% and a net margin of 42.14%. As a group, equities analysts expect that NRG Energy Inc will post 5.1 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.20 annualized dividend and a yield of 3.55%. NRG Energy’s payout ratio is presently 30.30%.

Several research firms recently weighed in on NRG. Seaport Global Securities began coverage on shares of NRG Energy in a report on Wednesday, May 20th. They issued a “buy” rating and a $42.50 price objective for the company. UBS Group cut their price target on shares of NRG Energy from $44.00 to $41.00 and set a “buy” rating for the company in a report on Friday, May 8th. Zacks Investment Research downgraded shares of NRG Energy from a “buy” rating to a “hold” rating and set a $34.00 price target for the company. in a report on Wednesday, May 13th. Cfra downgraded shares of NRG Energy from a “hold” rating to a “sell” rating and cut their price target for the company from $37.00 to $28.00 in a report on Thursday, May 7th. Finally, Morgan Stanley cut their price target on shares of NRG Energy from $56.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. NRG Energy has an average rating of “Hold” and an average target price of $40.00.

NRG Energy Profile

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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Institutional Ownership by Quarter for NRG Energy (NYSE:NRG)

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