Pacer Advisors Inc. boosted its position in shares of NRG Energy Inc (NYSE:NRG) by 271.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,033 shares of the utilities provider’s stock after buying an additional 76,771 shares during the quarter. Pacer Advisors Inc.’s holdings in NRG Energy were worth $4,159,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of NRG. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of NRG Energy by 431.3% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,049,142 shares of the utilities provider’s stock worth $71,966,000 after purchasing an additional 1,663,460 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of NRG Energy by 1,143.3% during the second quarter. Nuveen Asset Management LLC now owns 1,527,626 shares of the utilities provider’s stock worth $53,650,000 after purchasing an additional 1,404,760 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of NRG Energy during the second quarter worth $24,844,000. Steadfast Capital Management LP lifted its position in shares of NRG Energy by 12.9% during the second quarter. Steadfast Capital Management LP now owns 5,786,082 shares of the utilities provider’s stock worth $203,207,000 after purchasing an additional 660,020 shares during the last quarter. Finally, APG Asset Management N.V. bought a new stake in shares of NRG Energy during the second quarter worth $19,546,000. 96.16% of the stock is owned by institutional investors.
Several analysts recently weighed in on NRG shares. Zacks Investment Research upgraded NRG Energy from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Tuesday, August 20th. SunTrust Banks lifted their price objective on NRG Energy from $37.00 to $39.00 and gave the company a “hold” rating in a report on Tuesday, September 17th. Goldman Sachs Group upgraded NRG Energy from a “buy” rating to a “conviction-buy” rating and set a $56.00 price objective for the company in a report on Monday, June 24th. ValuEngine downgraded NRG Energy from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley upgraded NRG Energy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $47.00 to $49.00 in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. NRG Energy currently has a consensus rating of “Buy” and an average price target of $46.00.
NRG Energy (NYSE:NRG) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.08). The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.52 billion. NRG Energy had a negative return on equity of 45.11% and a net margin of 6.20%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 earnings per share. On average, equities research analysts predict that NRG Energy Inc will post 3.89 EPS for the current year.
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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