81,040 Shares in NRG Energy Inc (NRG) Purchased by Nippon Life Global Investors Americas Inc.
Nippon Life Global Investors Americas Inc. acquired a new position in NRG Energy Inc (NYSE:NRG) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 81,040 shares of the utilities provider’s stock, valued at approximately $2,474,000.
A number of other hedge funds have also recently modified their holdings of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in NRG Energy by 54.7% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,076 shares of the utilities provider’s stock worth $175,000 after purchasing an additional 2,148 shares in the last quarter. IFP Advisors Inc grew its position in NRG Energy by 112.2% in the 1st quarter. IFP Advisors Inc now owns 4,352 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 2,301 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in NRG Energy by 122.7% in the 4th quarter. Itau Unibanco Holding S.A. now owns 4,815 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 2,653 shares in the last quarter. LPL Financial LLC grew its position in NRG Energy by 13.2% in the 4th quarter. LPL Financial LLC now owns 25,347 shares of the utilities provider’s stock worth $722,000 after purchasing an additional 2,949 shares in the last quarter. Finally, Amalgamated Bank grew its position in NRG Energy by 5.5% in the 4th quarter. Amalgamated Bank now owns 62,618 shares of the utilities provider’s stock worth $1,783,000 after purchasing an additional 3,255 shares in the last quarter. 90.87% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on NRG shares. ValuEngine downgraded shares of NRG Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 17th. TheStreet downgraded shares of NRG Energy from a “c” rating to a “d+” rating in a research report on Thursday, March 1st. SunTrust Banks reissued a “hold” rating and set a $29.00 target price on shares of NRG Energy in a research report on Thursday, March 15th. Zacks Investment Research raised shares of NRG Energy from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Finally, UBS assumed coverage on shares of NRG Energy in a research report on Friday, February 23rd. They set a “buy” rating and a $33.00 target price for the company. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. NRG Energy presently has an average rating of “Buy” and an average target price of $30.00.
NRG Energy (NYSE:NRG) last released its earnings results on Thursday, May 3rd. The utilities provider reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.73. NRG Energy had a negative net margin of 16.04% and a positive return on equity of 26.42%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.08 billion. NRG Energy’s quarterly revenue was up 1.6% compared to the same quarter last year. equities analysts expect that NRG Energy Inc will post 3.29 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, April 30th. NRG Energy’s dividend payout ratio is currently 11.01%.
NRG Energy declared that its board has approved a stock buyback program on Thursday, March 1st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the utilities provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
About NRG Energy
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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