TD Asset Management Inc. grew its position in shares of NRG Energy Inc (NYSE:NRG) by 178.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 868,766 shares of the utilities provider’s stock after purchasing an additional 557,219 shares during the quarter. TD Asset Management Inc. owned approximately 0.33% of NRG Energy worth $30,511,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in NRG. Valeo Financial Advisors LLC lifted its stake in shares of NRG Energy by 758.5% in the second quarter. Valeo Financial Advisors LLC now owns 807 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 713 shares during the period. Global Retirement Partners LLC acquired a new position in shares of NRG Energy in the first quarter worth approximately $31,000. Advisors Preferred LLC acquired a new position in shares of NRG Energy in the first quarter worth approximately $52,000. Advisory Services Network LLC acquired a new position in shares of NRG Energy in the first quarter worth approximately $70,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of NRG Energy in the second quarter worth approximately $71,000. 97.25% of the stock is currently owned by hedge funds and other institutional investors.
NRG has been the topic of a number of recent analyst reports. Goldman Sachs Group raised NRG Energy from a “buy” rating to a “conviction-buy” rating and set a $56.00 price objective on the stock in a research note on Monday, June 24th. Zacks Investment Research lowered NRG Energy from a “strong-buy” rating to a “hold” rating and set a $41.00 price target on the stock. in a research note on Monday, May 27th. Morgan Stanley set a $46.00 price target on NRG Energy and gave the company a “hold” rating in a research note on Thursday, May 16th. Finally, ValuEngine lowered NRG Energy from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $45.13.
NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.08). The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.52 billion. NRG Energy had a net margin of 6.20% and a negative return on equity of 45.11%. NRG Energy’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. Equities analysts predict that NRG Energy Inc will post 3.83 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.12 per share. This is an increase from NRG Energy’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.48 annualized dividend and a dividend yield of 1.36%. NRG Energy’s payout ratio is currently 4.98%.
About NRG Energy
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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