Raymond James Financial Services Advisors Inc. increased its holdings in shares of NRG Energy Inc (NYSE:NRG) by 332.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,323 shares of the utilities provider’s stock after buying an additional 31,768 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in NRG Energy were worth $1,177,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of NRG. Prudential Financial Inc. raised its stake in NRG Energy by 202.6% during the 3rd quarter. Prudential Financial Inc. now owns 3,363,988 shares of the utilities provider’s stock worth $86,086,000 after buying an additional 2,252,400 shares during the period. Jennison Associates LLC raised its stake in NRG Energy by 82.1% during the 3rd quarter. Jennison Associates LLC now owns 3,261,902 shares of the utilities provider’s stock worth $83,472,000 after buying an additional 1,470,410 shares during the period. Janus Henderson Group PLC raised its stake in NRG Energy by 20.9% during the 3rd quarter. Janus Henderson Group PLC now owns 6,671,449 shares of the utilities provider’s stock worth $170,723,000 after buying an additional 1,154,171 shares during the period. Hennessy Advisors Inc. acquired a new stake in NRG Energy during the 4th quarter worth $30,869,000. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in NRG Energy by 887.4% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 1,130,699 shares of the utilities provider’s stock worth $28,932,000 after buying an additional 1,016,184 shares during the period. 97.31% of the stock is currently owned by institutional investors and hedge funds.
NRG has been the topic of several research analyst reports. UBS Group initiated coverage on NRG Energy in a research note on Friday, February 23rd. They set a “buy” rating and a $33.00 price objective on the stock. TheStreet downgraded NRG Energy from a “c” rating to a “d+” rating in a research note on Thursday, March 1st. Zacks Investment Research raised NRG Energy from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Finally, ValuEngine downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. NRG Energy currently has a consensus rating of “Buy” and a consensus target price of $26.88.
NRG Energy (NYSE:NRG) last released its quarterly earnings results on Thursday, March 1st. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.59. NRG Energy had a positive return on equity of 9.46% and a negative net margin of 19.56%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.23 billion. equities research analysts forecast that NRG Energy Inc will post 2.61 earnings per share for the current fiscal year.
NRG Energy announced that its board has initiated a stock buyback plan on Thursday, March 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Wednesday, January 31st. NRG Energy’s dividend payout ratio is -1.76%.
WARNING: “NRG Energy Inc (NRG) Shares Bought by Raymond James Financial Services Advisors Inc.” was posted by Ticker Report and is the property of of Ticker Report. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://www.tickerreport.com/banking-finance/3253048/nrg-energy-inc-nrg-shares-bought-by-raymond-james-financial-services-advisors-inc.html.
NRG Energy Company 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.
Want to see what other hedge funds are holding NRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NRG Energy Inc (NYSE:NRG).
Receive News & Ratings for NRG Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NRG Energy and related companies with MarketBeat.com's FREE daily email newsletter.