Freemont Management S.A. reduced its position in NRG Energy, Inc. (NYSE:NRG – Get Rating) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,100 shares of the utilities provider's stock after selling 3,400 shares during the period. Freemont Management S.A. owned about 0.06% of NRG Energy worth $5,400,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Baird Financial Group Inc. increased its stake in NRG Energy by 4.1% in the 2nd quarter. Baird Financial Group Inc. now owns 172,592 shares of the utilities provider's stock valued at $6,588,000 after purchasing an additional 6,842 shares in the last quarter. Aviva PLC increased its stake in NRG Energy by 34.1% in the 2nd quarter. Aviva PLC now owns 180,815 shares of the utilities provider's stock valued at $6,902,000 after purchasing an additional 45,970 shares in the last quarter. AIA Group Ltd increased its stake in NRG Energy by 25.9% in the 2nd quarter. AIA Group Ltd now owns 4,512 shares of the utilities provider's stock valued at $172,000 after purchasing an additional 929 shares in the last quarter. Rocky Mountain Advisers LLC increased its stake in NRG Energy by 0.8% in the 2nd quarter. Rocky Mountain Advisers LLC now owns 70,458 shares of the utilities provider's stock valued at $2,689,000 after purchasing an additional 574 shares in the last quarter. Finally, Natixis Advisors L.P. increased its position in NRG Energy by 33.7% during the second quarter. Natixis Advisors L.P. now owns 111,511 shares of the utilities provider's stock worth $4,256,000 after buying an additional 28,098 shares in the last quarter. 99.98% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. UBS Group downgraded NRG Energy from a "neutral" rating to a "sell" rating in a research report on Wednesday, December 7th. StockNews.com assumed coverage on NRG Energy in a research report on Wednesday, October 12th. They set a "hold" rating for the company. BMO Capital Markets dropped their price target on NRG Energy from $46.00 to $43.00 in a research report on Thursday, December 8th. Bank of America raised NRG Energy from an "underperform" rating to a "neutral" rating and dropped their price target for the stock from $38.00 to $32.00 in a research report on Monday, December 19th. Finally, Morgan Stanley raised their price target on NRG Energy from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $40.40.
Insider Activity at NRG Energy
In other news, Director Antonio Carrillo bought 9,000 shares of NRG Energy stock in a transaction that occurred on Thursday, December 15th. The shares were purchased at an average price of $31.71 per share, for a total transaction of $285,390.00. Following the completion of the acquisition, the director now owns 27,446 shares of the company's stock, valued at $870,312.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through
the SEC website. In related news, CEO Mauricio Gutierrez acquired 15,000 shares of NRG Energy stock in a transaction on Thursday, December 15th. The shares were bought at an average price of $32.03 per share, for a total transaction of $480,450.00. Following the completion of the purchase, the chief executive officer now directly owns 1,111,368 shares in the company, valued at approximately $35,597,117.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through
the SEC website. Also, Director Antonio Carrillo acquired 9,000 shares of NRG Energy stock in a transaction on Thursday, December 15th. The shares were bought at an average price of $31.71 per share, for a total transaction of $285,390.00. Following the purchase, the director now owns 27,446 shares of the company's stock, valued at $870,312.66. The disclosure for this purchase can be found
here. 0.76% of the stock is owned by insiders.
NRG Energy Trading Up 0.8 %
Shares of NYSE:NRG traded up $0.26 during midday trading on Friday, reaching $33.75. The company's stock had a trading volume of 2,937,004 shares, compared to its average volume of 3,282,783. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of 4.28, a price-to-earnings-growth ratio of 0.56 and a beta of 0.93. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 1.55. NRG Energy, Inc. has a 1 year low of $30.64 and a 1 year high of $47.82. The business has a 50 day moving average price of $34.41 and a 200 day moving average price of $38.76.
NRG Energy (NYSE:NRG – Get Rating) last announced its quarterly earnings data on Monday, November 7th. The utilities provider reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.35). NRG Energy had a net margin of 6.15% and a negative return on equity of 0.66%. The business had revenue of $8.51 billion during the quarter, compared to analysts' expectations of $5.90 billion. Research analysts forecast that NRG Energy, Inc. will post 11.19 EPS for the current year.
NRG Energy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 1st will be issued a $0.3775 dividend. The ex-dividend date is Tuesday, January 31st. This represents a $1.51 dividend on an annualized basis and a yield of 4.47%. This is a boost from NRG Energy's previous quarterly dividend of $0.35. NRG Energy's dividend payout ratio (DPR) is presently 17.77%.
About NRG Energy
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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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