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Banco Santander S.A. Raises Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

NRG Energy logo with Utilities background

Key Points

  • Banco Santander S.A. increased its holdings in NRG Energy, Inc. by 0.2%, now owning 2,835,000 shares valued at approximately $270.63 million.
  • NRG Energy's quarterly earnings topped analysts' expectations with earnings per share of $2.62, compared to consensus estimates of $0.72, and reported revenues of $8.59 billion.
  • The company announced a quarterly dividend of $0.44 per share, which results in an annualized yield of 1.0%, to be paid on August 15th.
  • MarketBeat previews the top five stocks to own by September 1st.

Banco Santander S.A. increased its position in NRG Energy, Inc. (NYSE:NRG - Free Report) by 0.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,835,000 shares of the utilities provider's stock after buying an additional 7,000 shares during the quarter. NRG Energy accounts for 3.0% of Banco Santander S.A.'s portfolio, making the stock its 5th largest position. Banco Santander S.A. owned about 1.39% of NRG Energy worth $270,629,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its holdings in NRG Energy by 41.8% during the 4th quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider's stock valued at $468,000 after acquiring an additional 1,528 shares during the period. CIBC Private Wealth Group LLC grew its holdings in NRG Energy by 64.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 521 shares of the utilities provider's stock worth $51,000 after acquiring an additional 205 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of NRG Energy by 22.1% during the fourth quarter. Clearbridge Investments LLC now owns 41,221 shares of the utilities provider's stock worth $3,719,000 after purchasing an additional 7,469 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in NRG Energy by 13.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,782 shares of the utilities provider's stock valued at $1,334,000 after purchasing an additional 1,726 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in NRG Energy by 10.1% in the 4th quarter. Wellington Management Group LLP now owns 241,786 shares of the utilities provider's stock worth $21,814,000 after buying an additional 22,133 shares during the period. Hedge funds and other institutional investors own 97.72% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NRG. Wells Fargo & Company upped their target price on NRG Energy from $165.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. BMO Capital Markets reiterated a "market perform" rating and set a $167.00 price target (up previously from $115.00) on shares of NRG Energy in a research report on Wednesday, May 14th. Raymond James Financial initiated coverage on NRG Energy in a report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 target price on the stock. Citigroup lifted their price target on NRG Energy from $133.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, Jefferies Financial Group raised their price objective on NRG Energy from $113.00 to $132.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $160.30.

Check Out Our Latest Research Report on NRG Energy

Insider Transactions at NRG Energy

In other NRG Energy news, Director Kevin Howell sold 50,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $154.50, for a total value of $7,725,000.00. Following the transaction, the director directly owned 55,427 shares in the company, valued at approximately $8,563,471.50. This trade represents a 47.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company's stock.

NRG Energy Stock Up 3.8%

NRG traded up $6.41 during trading on Monday, hitting $174.04. 3,195,429 shares of the company's stock traded hands, compared to its average volume of 2,672,479. The stock has a market capitalization of $34.03 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 1.39 and a beta of 1.14. The company's 50 day simple moving average is $155.33 and its two-hundred day simple moving average is $124.35. NRG Energy, Inc. has a 12-month low of $65.11 and a 12-month high of $174.45. The company has a current ratio of 1.06, a quick ratio of 1.02 and a debt-to-equity ratio of 4.61.

NRG Energy (NYSE:NRG - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The utilities provider reported $2.62 earnings per share for the quarter, beating the consensus estimate of $0.72 by $1.90. The firm had revenue of $8.59 billion during the quarter, compared to analysts' expectations of $8.28 billion. NRG Energy had a net margin of 4.66% and a return on equity of 73.78%. The firm's quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.31 earnings per share. Analysts predict that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 1st. NRG Energy's dividend payout ratio (DPR) is presently 28.39%.

About NRG Energy

(Free Report)

NRG Energy, Inc, together with its subsidiaries, operates as an energy and home services company in the United States and Canada. It operates through Texas; East; West/Services/Other; Vivint Smart Home; and Corporate Activities segments. The company produces and sells electricity generated using coal, oil, solar, and battery storage; natural gas; and a cloud-based home platform, including hardware, software, sales, installation, customer service, technical support, and professional monitoring solutions.

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

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