Mitsubishi UFJ Trust & Banking Corp raised its stake in NRG Energy, Inc. (NYSE:NRG – Free Report) by 0.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 396,037 shares of the utilities provider’s stock after purchasing an additional 3,695 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in NRG Energy were worth $27,468,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. LifeSteps Financial Inc. purchased a new position in shares of NRG Energy during the 1st quarter valued at $31,000. Mather Group LLC. acquired a new position in NRG Energy in the 1st quarter worth about $33,000. CENTRAL TRUST Co raised its stake in shares of NRG Energy by 1,005.5% during the 4th quarter. CENTRAL TRUST Co now owns 807 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 734 shares in the last quarter. Blue Trust Inc. grew its stake in shares of NRG Energy by 35.4% in the 4th quarter. Blue Trust Inc. now owns 865 shares of the utilities provider’s stock valued at $45,000 after buying an additional 226 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in NRG Energy in the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.
Insider Activity at NRG Energy
In other NRG Energy news, insider Rasesh M. Patel sold 24,546 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $83.41, for a total value of $2,047,381.86. Following the sale, the insider now directly owns 266,064 shares in the company, valued at approximately $22,192,398.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.86% of the company’s stock.
NRG Energy Stock Performance
NRG Energy (NYSE:NRG – Get Free Report) last announced its earnings results on Tuesday, May 7th. The utilities provider reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.12). The business had revenue of $7.43 billion for the quarter. NRG Energy had a net margin of 5.76% and a return on equity of 42.60%. As a group, equities analysts predict that NRG Energy, Inc. will post 4.5 EPS for the current fiscal year.
NRG Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be given a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 2.18%. NRG Energy’s dividend payout ratio (DPR) is currently 23.09%.
Wall Street Analyst Weigh In
Several brokerages have recently commented on NRG. Wells Fargo & Company increased their price target on shares of NRG Energy from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. BMO Capital Markets raised their target price on NRG Energy from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, May 8th. Finally, Morgan Stanley boosted their price target on NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 28th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $71.14.
View Our Latest Stock Analysis on NRG Energy
NRG Energy Company Profile
NRG Energy, Inc, together with its subsidiaries, operates as an energy and home services company in the United States and Canada. It operates through Texas; East; West/Services/Other; Vivint Smart Home; and Corporate Activities segments. The company produces and sells electricity generated using coal, oil, solar, and battery storage; natural gas; and a cloud-based home platform, including hardware, software, sales, installation, customer service, technical support, and professional monitoring solutions.
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