ING Groep NV bought a new position in shares of NRG Energy Inc (NYSE:NRG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 55,572 shares of the utilities provider’s stock, valued at approximately $2,078,000.
A number of other large investors have also modified their holdings of NRG. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of NRG Energy in the 2nd quarter valued at approximately $130,000. Harvest Fund Management Co. Ltd lifted its position in shares of NRG Energy by 313.6% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 3,747 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 2,841 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new stake in shares of NRG Energy in the 3rd quarter valued at approximately $145,000. Moody National Bank Trust Division purchased a new stake in shares of NRG Energy in the 3rd quarter valued at approximately $206,000. Finally, Conning Inc. purchased a new stake in shares of NRG Energy in the 3rd quarter valued at approximately $231,000. Hedge funds and other institutional investors own 97.73% of the company’s stock.
In other NRG Energy news, EVP Elizabeth R. Killinger sold 24,600 shares of the stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $35.84, for a total value of $881,664.00. Following the completion of the sale, the executive vice president now owns 106,125 shares in the company, valued at approximately $3,803,520. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christopher Moser sold 43,975 shares of the stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $35.11, for a total transaction of $1,543,962.25. Following the completion of the sale, the executive vice president now owns 61,075 shares of the company’s stock, valued at approximately $2,144,343.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,775 shares of company stock valued at $2,959,754. Insiders own 0.38% of the company’s stock.
NRG Energy (NYSE:NRG) last released its earnings results on Thursday, November 8th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.18). NRG Energy had a positive return on equity of 61.11% and a negative net margin of 11.52%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the company earned $0.60 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts expect that NRG Energy Inc will post 3 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were given a $0.03 dividend. The ex-dividend date was Wednesday, October 31st. This represents a $0.12 dividend on an annualized basis and a yield of 0.31%. NRG Energy’s payout ratio is 11.01%.
NRG has been the subject of several research analyst reports. ValuEngine upgraded shares of NRG Energy from a “hold” rating to a “buy” rating in a research report on Saturday, October 6th. Bank of America upped their price target on shares of NRG Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, September 27th. Citigroup upgraded shares of NRG Energy from a “neutral” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Monday, August 6th. SunTrust Banks upped their price target on shares of NRG Energy from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, October 29th. Finally, Zacks Investment Research upgraded shares of NRG Energy from a “sell” rating to a “hold” rating in a research report on Monday, October 22nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. NRG Energy currently has a consensus rating of “Buy” and an average target price of $38.17.
NRG Energy Profile
NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. The company is involved in the generation of electricity using fossil fuel and nuclear sources. The company provides electricity to 2.9 million residential, commercial, and industrial consumers; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; and carbon management and specialty services.
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