Catalyst Capital Advisors LLC bought a new position in shares of NRG Energy Inc (NYSE:NRG) during the first quarter, HoldingsChannel reports. The firm bought 19,800 shares of the utilities provider’s stock, valued at approximately $841,000.
Several other hedge funds also recently made changes to their positions in the company. Alpha Quant Advisors LLC lifted its position in shares of NRG Energy by 284.4% during the first quarter. Alpha Quant Advisors LLC now owns 28,817 shares of the utilities provider’s stock worth $1,224,000 after purchasing an additional 21,320 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in NRG Energy by 174.0% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 209,433 shares of the utilities provider’s stock valued at $8,897,000 after buying an additional 133,008 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in NRG Energy by 5.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,285,122 shares of the utilities provider’s stock valued at $54,592,000 after buying an additional 67,154 shares during the period. 361 Capital LLC acquired a new position in NRG Energy in the first quarter valued at approximately $647,000. Finally, Oregon Public Employees Retirement Fund lifted its holdings in NRG Energy by 129.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 74,186 shares of the utilities provider’s stock valued at $3,151,000 after buying an additional 41,804 shares during the period. Institutional investors own 97.24% of the company’s stock.
In other NRG Energy news, SVP David Callen sold 41,011 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by corporate insiders.
Shares of NYSE NRG 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 capitalization of $9.49 billion, a P/E ratio of 14.74 and a beta of 0.75.
NRG Energy (NYSE:NRG) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 quarter in the prior year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Equities analysts predict that NRG Energy Inc will post 4.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Tuesday, April 30th. NRG Energy’s payout ratio is presently 4.98%.
Several equities analysts recently weighed in on NRG shares. Deutsche Bank lowered shares of NRG Energy from a “buy” rating to a “hold” rating and set a $45.00 price objective on the stock. in a report on Monday, January 28th. Morgan Stanley restated an “equal weight” rating and issued a $46.00 price objective on shares of NRG Energy in a report on Monday, March 25th. Macquarie set a $48.00 price objective on shares of NRG Energy and gave the company a “buy” rating in a report on Friday, March 1st. ValuEngine lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Finally, Citigroup increased their price objective on shares of NRG Energy from $47.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus 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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