Pictet Asset Management Ltd. Has $4.55 Million Position in NRG Energy Inc (NYSE:NRG)

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Pictet Asset Management Ltd. lowered its stake in shares of NRG Energy Inc (NYSE:NRG) by 19.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,530 shares of the utilities provider’s stock after selling 30,800 shares during the quarter. Pictet Asset Management Ltd. owned about 0.05% of NRG Energy worth $4,549,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NRG. Geode Capital Management LLC grew its position in NRG Energy by 17.8% during the fourth quarter. Geode Capital Management LLC now owns 4,821,667 shares of the utilities provider’s stock worth $190,674,000 after buying an additional 727,114 shares in the last quarter. First Republic Investment Management Inc. lifted its stake in NRG Energy by 6.2% during the first quarter. First Republic Investment Management Inc. now owns 6,747 shares of the utilities provider’s stock worth $287,000 after purchasing an additional 395 shares during the last quarter. First Allied Advisory Services Inc. lifted its stake in NRG Energy by 12.7% during the first quarter. First Allied Advisory Services Inc. now owns 7,830 shares of the utilities provider’s stock worth $322,000 after purchasing an additional 881 shares during the last quarter. American International Group Inc. lifted its stake in NRG Energy by 10.7% during the first quarter. American International Group Inc. now owns 136,868 shares of the utilities provider’s stock worth $5,814,000 after purchasing an additional 13,174 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in NRG Energy by 0.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 45,309 shares of the utilities provider’s stock worth $1,925,000 after purchasing an additional 313 shares during the last quarter.

Several research firms have weighed in on NRG. SunTrust Banks upped their target price on NRG Energy from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Tuesday. Goldman Sachs Group upgraded NRG Energy from a “buy” rating to a “conviction-buy” rating and set a $56.00 price target for the company in a research note on Monday, June 24th. ValuEngine cut NRG Energy from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Morgan Stanley upgraded NRG Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $47.00 to $49.00 in a research note on Friday, September 6th. Finally, Zacks Investment Research upgraded NRG Energy from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $45.50.

Shares of NRG traded up $0.21 during trading hours on Tuesday, hitting $39.24. The stock had a trading volume of 604,640 shares, compared to its average volume of 2,266,798. The firm has a 50 day simple moving average of $35.75 and a 200-day simple moving average of $37.60. The firm has a market capitalization of $9.74 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 0.28 and a beta of 0.77. NRG Energy Inc has a 1-year low of $32.63 and a 1-year high of $43.66.

NRG Energy (NYSE:NRG) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.08). The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.52 billion. NRG Energy had a net margin of 6.20% and a negative return on equity of 45.11%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. On average, research analysts forecast that NRG Energy Inc will post 3.82 EPS for the current fiscal year.

NRG Energy Profile

NRG Energy, Inc, together with its subsidiaries, operates as an energy company in the United States. The company is involved in the producing, selling, and delivering electricity and related products and services to 3.1 million residential, industrial, and commercial consumers. It generates electricity using natural gas, coal, oil, solar, nuclear, wind, fossil fuel, and nuclear sources.

Read More: How to Calculate Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for NRG Energy (NYSE:NRG)

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