JPMorgan Chase & Co. lowered its position in NRG Energy Inc (NYSE:NRG) by 18.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,246,703 shares of the utilities provider’s stock after selling 502,932 shares during the quarter. JPMorgan Chase & Co.’s holdings in NRG Energy were worth $95,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Moody National Bank Trust Division boosted its stake in NRG Energy by 4.4% in the first quarter. Moody National Bank Trust Division now owns 5,744 shares of the utilities provider’s stock worth $244,000 after buying an additional 242 shares in the last quarter. Waldron Private Wealth LLC boosted its stake in shares of NRG Energy by 2.9% during the first quarter. Waldron Private Wealth LLC now owns 8,800 shares of the utilities provider’s stock valued at $373,000 after purchasing an additional 250 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of NRG Energy by 0.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 45,309 shares of the utilities provider’s stock valued at $1,925,000 after purchasing an additional 313 shares during the period. NewSquare Capital LLC boosted its stake in shares of NRG Energy by 5.8% during the first quarter. NewSquare Capital LLC now owns 6,495 shares of the utilities provider’s stock valued at $276,000 after purchasing an additional 355 shares during the period. Finally, First Republic Investment Management Inc. boosted its stake in shares of NRG Energy by 6.2% during the first quarter. First Republic Investment Management Inc. now owns 6,747 shares of the utilities provider’s stock valued at $287,000 after purchasing an additional 395 shares during the period. 97.24% of the stock is owned by institutional investors and hedge funds.
In related news, SVP David Callen sold 41,011 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $41.83, for a total value of $1,715,490.13. Following the completion of the sale, the senior vice president now owns 58,130 shares of the company’s stock, valued at $2,431,577.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.56% of the company’s stock.
A number of analysts have recently weighed in on the company. Zacks Investment Research raised NRG Energy from a “hold” rating to a “strong-buy” rating and set a $41.00 price objective for the company in a research note on Monday, May 20th. Morgan Stanley set a $46.00 price objective on NRG Energy and gave the company a “hold” rating in a research note on Thursday, May 16th. Citigroup increased their price objective on NRG Energy from $47.00 to $49.00 and gave the company 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 company a “buy” rating in a research note on Friday, March 1st. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. NRG Energy currently has an average rating of “Buy” and an average price target of $43.57.
NYSE:NRG opened at $35.53 on Friday. The company has a market cap of $9.49 billion, a PE ratio of 14.74 and a beta of 0.75. NRG Energy Inc has a fifty-two week low of $29.90 and a fifty-two week high of $43.66.
NRG Energy (NYSE:NRG) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the company posted $0.87 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, sell-side analysts forecast that NRG Energy Inc will post 4.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Tuesday, April 30th. NRG Energy’s payout ratio is 4.98%.
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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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