Evergreen Capital Management LLC bought a new stake in NRG Yield Inc. (NYSE:NYLD) during the second quarter, Holdings Channel reports. The firm bought 615,885 shares of the company’s stock, valued at approximately $9,602,000. NRG Yield comprises 2.1% of Evergreen Capital Management LLC’s holdings, making the stock its 12th largest position.
Several other hedge funds have also recently bought and sold shares of NYLD. Fox Run Management L.L.C. purchased a new stake in NRG Yield during the second quarter valued at about $259,000. Quotient Investors LLC purchased a new stake in NRG Yield during the second quarter valued at about $193,000. Adage Capital Partners GP L.L.C. purchased a new stake in NRG Yield during the first quarter valued at about $828,000. Brookfield Asset Management Inc. raised its stake in NRG Yield by 562.5% in the first quarter. Brookfield Asset Management Inc. now owns 95,200 shares of the company’s stock valued at $1,356,000 after buying an additional 80,830 shares during the last quarter. Finally, Credit Capital Investments LLC purchased a new stake in NRG Yield during the first quarter valued at about $611,000. Hedge funds and other institutional investors own 31.48% of the company’s stock.
NRG Yield Inc. (NYSE:NYLD) traded up 0.58% during midday trading on Wednesday, reaching $17.24. 400,554 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $17.28 and its 200-day moving average price is $15.97. NRG Yield Inc. has a one year low of $10.49 and a one year high of $18.56. The stock has a market cap of $1.68 billion, a PE ratio of 26.40 and a beta of 2.64.
NRG Yield (NYSE:NYLD) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.37 by $0.32. The firm had revenue of $258 million for the quarter, compared to analysts’ expectations of $274.02 million. NRG Yield had a net margin of 7.48% and a return on equity of 2.71%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.07) EPS. Equities analysts predict that NRG Yield Inc. will post $0.93 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.57%. The ex-dividend date was Tuesday, August 30th. This is a positive change from NRG Yield’s previous quarterly dividend of $0.23. NRG Yield’s payout ratio is currently 139.13%.
Several research firms have recently issued reports on NYLD. Oppenheimer Holdings Inc. began coverage on shares of NRG Yield in a research note on Thursday, September 8th. They issued a “market perform” rating for the company. Avondale Partners lowered shares of NRG Yield from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 10th. Deutsche Bank AG restated a “buy” rating on shares of NRG Yield in a research report on Wednesday, August 10th. Barclays PLC reduced their price target on shares of NRG Yield from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, August 10th. Finally, Zacks Investment Research upgraded shares of NRG Yield from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $17.75.
About NRG Yield
NRG Yield, Inc serves as the primary vehicle, through which NRG Energy, Inc owns, operates and acquires contracted renewable and conventional generation and thermal infrastructure assets. It owns a diversified portfolio of contracted renewable and conventional generation and thermal infrastructure assets in the United States.
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