Prudential Financial Inc. decreased its stake in NRG Energy Inc. (NYSE:NRG) by 80.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 988,659 shares of the company’s stock after selling 4,015,750 shares during the period. Prudential Financial Inc. owned approximately 0.31% of NRG Energy worth $14,820,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. BB&T Securities LLC bought a new position in shares of NRG Energy during the first quarter valued at approximately $138,000. Acrospire Investment Management LLC bought a new position in shares of NRG Energy during the second quarter valued at approximately $148,000. ING Groep NV bought a new position in shares of NRG Energy during the second quarter valued at approximately $167,000. M&T Bank Corp bought a new position in shares of NRG Energy during the first quarter valued at approximately $202,000. Finally, Ngam Advisors L.P. bought a new position in shares of NRG Energy during the second quarter valued at approximately $209,000. 96.18% of the stock is owned by hedge funds and other institutional investors.
NRG Energy Inc. (NYSE:NRG) opened at 11.21 on Friday. The company’s market capitalization is $3.53 billion. The firm’s 50-day moving average is $11.89 and its 200-day moving average is $13.88. NRG Energy Inc. has a 1-year low of $8.80 and a 1-year high of $18.32.
NRG Energy (NYSE:NRG) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.76. The company earned $2.64 billion during the quarter, compared to the consensus estimate of $3.54 billion. NRG Energy had a negative net margin of 48.33% and a positive return on equity of 3.12%. The business’s revenue was down 22.4% compared to the same quarter last year. During the same period last year, the company earned ($0.06) earnings per share. Equities research analysts predict that NRG Energy Inc. will post $0.96 EPS for the current year.
Several research firms have recently issued reports on NRG. Deutsche Bank AG reissued a “buy” rating and issued a $21.00 price objective on shares of NRG Energy in a research report on Wednesday, August 10th. Zacks Investment Research raised shares of NRG Energy from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Wednesday, July 20th. Barclays PLC dropped their price objective on shares of NRG Energy from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, August 10th. Citigroup Inc. dropped their price objective on shares of NRG Energy from $14.00 to $11.00 and set a “sell” rating for the company in a research report on Monday, September 12th. Finally, TheStreet lowered shares of NRG Energy from a “hold” rating to a “sell” rating in a research report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.82.
NRG Energy Company Profile
NRG Energy, Inc (NRG) is an integrated power company that produces, sells and delivers energy, and energy products and services in various power markets in the United States. The Company’s segments include NRG Business, which includes power generation, the carbon capture business and energy services; NRG Home, which includes NRG Home Retail, which consists of residential retail services and products, and NRG Home Solar, which includes the installation and leasing of residential solar services; NRG Renew, which includes solar and wind assets, excluding those in the NRG Yield and NRG Home Solar segments; NRG Yield, and corporate activities.
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