California State Teachers Retirement System decreased its position in NRG Energy Inc (NYSE:NRG) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 514,560 shares of the utilities provider’s stock after selling 4,076 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of NRG Energy worth $14,655,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Southpoint Capital Advisors LP bought a new stake in shares of NRG Energy in the 4th quarter worth $56,960,000. Two Sigma Advisers LP grew its stake in shares of NRG Energy by 3.5% in the 4th quarter. Two Sigma Advisers LP now owns 890,582 shares of the utilities provider’s stock worth $25,364,000 after acquiring an additional 29,945 shares in the last quarter. Brigade Capital Management LP grew its stake in shares of NRG Energy by 4.3% in the 4th quarter. Brigade Capital Management LP now owns 1,347,992 shares of the utilities provider’s stock worth $38,391,000 after acquiring an additional 55,257 shares in the last quarter. Cypress Capital Group bought a new stake in shares of NRG Energy in the 4th quarter worth $218,000. Finally, Caption Management LLC bought a new stake in shares of NRG Energy in the 4th quarter worth $1,025,000. Hedge funds and other institutional investors own 97.31% of the company’s stock.
Several analysts have recently issued reports on NRG shares. TheStreet lowered shares of NRG Energy from a “c” rating to a “d+” rating in a research note on Thursday, March 1st. SunTrust Banks reiterated a “hold” rating and issued a $29.00 target price on shares of NRG Energy in a research note on Thursday, March 15th. Zacks Investment Research upgraded shares of NRG Energy from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. ValuEngine lowered shares of NRG Energy from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, UBS assumed coverage on shares of NRG Energy in a report on Friday, February 23rd. They issued a “buy” rating and a $33.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. NRG Energy presently has an average rating of “Buy” and an average price target of $27.38.
NRG Energy stock opened at $30.19 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.33 and a debt-to-equity ratio of 7.99. The firm has a market cap of $9,583.13, a PE ratio of -4.43 and a beta of 1.10. NRG Energy Inc has a fifty-two week low of $14.52 and a fifty-two week high of $30.84.
NRG Energy (NYSE:NRG) last issued its quarterly earnings results on Thursday, March 1st. The utilities provider reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.59. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.23 billion. NRG Energy had a negative net margin of 19.56% and a positive return on equity of 9.46%. analysts predict that NRG Energy Inc will post 2.61 earnings per share for the current fiscal year.
NRG Energy announced that its board has approved a stock buyback plan on Thursday, March 1st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the utilities provider to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
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NRG Energy Profile
NRG Energy, Inc (NRG) is an integrated power company. The Company is engaged in producing, selling and delivering electricity and related products and services in various markets in the United States. The Company’s segments include Generation, Retail, Renewables, NRG Yield, Inc (NRG Yield) and Corporate activities.
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