California Public Employees Retirement System Sells 36,473 Shares of NRG Energy, Inc. (NYSE:NRG)

California Public Employees Retirement System lessened its holdings in NRG Energy, Inc. (NYSE:NRGGet Rating) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 536,603 shares of the utilities provider’s stock after selling 36,473 shares during the period. California Public Employees Retirement System owned 0.22% of NRG Energy worth $23,117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of NRG. Lyrical Asset Management LP raised its stake in NRG Energy by 53.7% in the 3rd quarter. Lyrical Asset Management LP now owns 5,922,268 shares of the utilities provider’s stock valued at $241,806,000 after acquiring an additional 2,068,235 shares during the period. Pzena Investment Management LLC increased its position in NRG Energy by 4.5% during the 4th quarter. Pzena Investment Management LLC now owns 17,224,488 shares of the utilities provider’s stock worth $742,031,000 after buying an additional 740,730 shares during the period. Allspring Global Investments Holdings LLC bought a new position in NRG Energy during the 4th quarter worth $25,742,000. American Century Companies Inc. increased its position in NRG Energy by 205.1% during the 3rd quarter. American Century Companies Inc. now owns 800,037 shares of the utilities provider’s stock worth $32,666,000 after buying an additional 537,787 shares during the period. Finally, Renaissance Technologies LLC bought a new position in NRG Energy during the 3rd quarter worth $12,209,000. Institutional investors and hedge funds own 97.43% of the company’s stock.

NRG has been the topic of several recent research reports. StockNews.com started coverage on NRG Energy in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Bank of America cut NRG Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $47.00 to $43.00 in a research report on Thursday, April 21st. Evercore ISI restated a “hold” rating and issued a $42.00 price target on shares of NRG Energy in a research report on Friday, February 25th. Finally, Zacks Investment Research lowered NRG Energy from a “hold” rating to a “strong sell” rating and set a $34.00 price objective on the stock. in a research note on Friday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NRG Energy has a consensus rating of “Hold” and a consensus price target of $42.67.

NYSE:NRG opened at $42.29 on Friday. The stock’s 50-day simple moving average is $38.57 and its 200 day simple moving average is $38.86. NRG Energy, Inc. has a twelve month low of $31.94 and a twelve month high of $46.10. The firm has a market capitalization of $10.03 billion, a PE ratio of 2.57, a price-to-earnings-growth ratio of 1.24 and a beta of 0.91. The company has a quick ratio of 1.35, a current ratio of 1.38 and a debt-to-equity ratio of 1.60.

NRG Energy (NYSE:NRGGet Rating) last announced its quarterly earnings results on Friday, May 6th. The utilities provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.30). NRG Energy had a net margin of 14.95% and a return on equity of 45.51%. The firm had revenue of $7.86 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the previous year, the business posted $0.84 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, analysts anticipate that NRG Energy, Inc. will post 3.2 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Monday, May 2nd will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, April 29th. NRG Energy’s payout ratio is 8.52%.

NRG Energy Profile (Get Rating)

NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. It operates through Texas, East, and West. The company is involved in the producing, selling, and delivering electricity and related products and services to approximately 6 million residential, commercial, industrial, and wholesale customers.

Further Reading

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

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