OppenheimerFunds Inc. grew its stake in NRG Energy Inc (NYSE:NRG) by 43.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 767,409 shares of the utilities provider’s stock after buying an additional 230,604 shares during the period. OppenheimerFunds Inc.’s holdings in NRG Energy were worth $32,599,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Global Retirement Partners LLC bought a new position in shares of NRG Energy in the first quarter worth about $31,000. Oregon Public Employees Retirement Fund increased its stake in shares of NRG Energy by 3,810.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,282,327 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 1,249,537 shares during the period. Advisors Preferred LLC bought a new position in shares of NRG Energy in the first quarter worth about $52,000. Macquarie Group Ltd. increased its stake in shares of NRG Energy by 320.0% in the fourth quarter. Macquarie Group Ltd. now owns 2,100 shares of the utilities provider’s stock worth $83,000 after purchasing an additional 1,600 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of NRG Energy in the fourth quarter worth about $91,000. 97.25% of the stock is owned by institutional investors.
Shares of NRG opened at $34.87 on Thursday. NRG Energy Inc has a 12-month low of $29.90 and a 12-month high of $43.66. The stock has a market cap of $9.23 billion, a P/E ratio of 14.47 and a beta of 0.87.
NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned $0.87 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. On average, equities analysts anticipate that NRG Energy Inc will post 4.1 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $0.12 annualized dividend and a yield of 0.34%. NRG Energy’s dividend payout ratio is 4.98%.
A number of equities analysts have recently commented on the company. Zacks Investment Research lowered NRG Energy from a “strong-buy” rating to a “hold” rating and set a $41.00 price objective on the stock. in a research note on Monday, May 27th. Morgan Stanley set a $46.00 price objective on NRG Energy and gave the stock a “hold” rating in a research note on Thursday, May 16th. Citigroup lifted their price objective on NRG Energy from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. ValuEngine lowered NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Finally, Macquarie set a $48.00 price objective on NRG Energy and gave the stock a “buy” rating in a research note on Friday, March 1st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.57.
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NRG Energy Company 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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