Massachusetts Financial Services Co. MA trimmed its position in shares of NRG Energy, Inc. (NYSE:NRG) by 68.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 286,768 shares of the utilities provider’s stock after selling 629,161 shares during the period. Massachusetts Financial Services Co. MA’s holdings in NRG Energy were worth $11,556,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Pzena Investment Management LLC grew its position in NRG Energy by 52.8% during the 2nd quarter. Pzena Investment Management LLC now owns 14,220,693 shares of the utilities provider’s stock valued at $573,094,000 after purchasing an additional 4,914,254 shares during the last quarter. Lyrical Asset Management LP grew its position in NRG Energy by 12.4% during the 1st quarter. Lyrical Asset Management LP now owns 4,075,773 shares of the utilities provider’s stock valued at $153,779,000 after purchasing an additional 449,739 shares during the last quarter. Dimensional Fund Advisors LP grew its position in NRG Energy by 1.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,757,138 shares of the utilities provider’s stock valued at $151,403,000 after purchasing an additional 67,962 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new stake in NRG Energy during the 1st quarter valued at about $131,741,000. Finally, Legal & General Group Plc grew its position in NRG Energy by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 1,370,112 shares of the utilities provider’s stock valued at $55,216,000 after purchasing an additional 20,680 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on NRG shares. The Goldman Sachs Group raised shares of NRG Energy from a “buy” rating to a “conviction-buy” rating in a report on Sunday, June 27th. Morgan Stanley raised their price target on shares of NRG Energy from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, August 19th. TheStreet raised shares of NRG Energy from a “c+” rating to a “b” rating in a report on Thursday, August 5th. Finally, Seaport Global Securities increased their price objective on shares of NRG Energy from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, June 21st. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $48.33.
NRG Energy (NYSE:NRG) last posted its quarterly earnings data on Thursday, August 5th. The utilities provider reported $4.40 EPS for the quarter, topping the consensus estimate of $2.69 by $1.71. The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $2.83 billion. NRG Energy had a net margin of 5.90% and a return on equity of 32.21%. NRG Energy’s quarterly revenue was up 134.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.27 earnings per share. Equities research analysts anticipate that NRG Energy, Inc. will post 5.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Shareholders of record on Monday, August 2nd were paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 3.10%. The ex-dividend date was Friday, July 30th. NRG Energy’s payout ratio is 54.17%.
NRG Energy Profile
NRG Energy, Inc engages in the production, sale, and distribution of energy and energy services. It operates through the following segments: Generation, Retail, and Corporate. The Generation segment includes all power plant activities, domestic and international, as well as renewables. The Retail segment includes mass customers and business solutions, and other distributed and reliability products.
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