Panagora Asset Management Inc. Has $41.57 Million Holdings in NRG Energy, Inc. $NRG

Key Points

• Panagora Asset Management Inc. reduced its stake in NRG Energy by 27.3%, owning 435,460 shares worth approximately $41.57 million after selling 163,655 shares in the first quarter.
• Goldman Sachs increased its stake in NRG Energy by 468.4%, owning now 4,757,735 shares valued at around $454.17 million, following a substantial purchase of over 6 million shares.
• NRG Energy reported a quarterly EPS of $1.68, slightly missing estimates, while total revenue reached $6.74 billion, surpassing expectations and reflecting a 1.2% year-over-year increase.

Panagora Asset Management Inc. cut its stake in shares of NRG Energy, Inc. (NYSE:NRG - Free Report) by 27.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 435,460 shares of the utilities provider's stock after selling 163,655 shares during the quarter. Panagora Asset Management Inc. owned about 0.21% of NRG Energy worth $41,569,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NRG. Brighton Jones LLC grew its position in shares of NRG Energy by 41.8% in the fourth quarter. Brighton Jones LLC now owns 5,187 shares of the utilities provider's stock valued at $468,000 after purchasing an additional 1,528 shares during the period. Lido Advisors LLC increased its holdings in NRG Energy by 49.6% in the 4th quarter. Lido Advisors LLC now owns 8,186 shares of the utilities provider's stock valued at $739,000 after purchasing an additional 2,715 shares in the last quarter. Alyeska Investment Group L.P. raised its position in NRG Energy by 19.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 39,611 shares of the utilities provider's stock valued at $3,574,000 after purchasing an additional 6,484 shares during the period. Baird Financial Group Inc. boosted its stake in shares of NRG Energy by 1.3% in the fourth quarter. Baird Financial Group Inc. now owns 39,758 shares of the utilities provider's stock valued at $3,587,000 after purchasing an additional 506 shares during the period. Finally, Balyasny Asset Management L.P. grew its holdings in NRG Energy by 1,631.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 113,829 shares of the utilities provider's stock valued at $10,270,000 after purchasing an additional 107,255 shares in the last quarter. Institutional investors and hedge funds own 97.72% of the company's stock.

NRG Energy Stock Up 1.1%

Shares of NRG traded up $1.55 during mid-day trading on Wednesday, hitting $146.66. 1,457,308 shares of the company's stock were exchanged, compared to its average volume of 3,151,013. The company has a market cap of $28.37 billion, a PE ratio of 66.36, a P/E/G ratio of 1.19 and a beta of 1.17. NRG Energy, Inc. has a 52 week low of $76.13 and a 52 week high of $175.96. The company has a 50-day simple moving average of $154.04 and a 200 day simple moving average of $131.32. The company has a debt-to-equity ratio of 5.99, a current ratio of 0.93 and a quick ratio of 0.88.

NRG Energy (NYSE:NRG - Get Free Report) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $1.68 earnings per share for the quarter, missing analysts' consensus estimates of $1.72 by ($0.04). NRG Energy had a return on equity of 88.22% and a net margin of 1.78%.The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same quarter in the previous year, the firm posted $3.37 earnings per share. NRG Energy's quarterly revenue was up 1.2% on a year-over-year basis. On average, research analysts forecast that NRG Energy, Inc. will post 6.36 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 1st. NRG Energy's dividend payout ratio is currently 79.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays upped their price target on NRG Energy from $197.00 to $203.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. BMO Capital Markets raised their price objective on shares of NRG Energy from $167.00 to $185.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Melius began coverage on shares of NRG Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $308.00 price target for the company. Melius Research initiated coverage on shares of NRG Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $308.00 target price for the company. Finally, Raymond James Financial assumed coverage on shares of NRG Energy in a research report on Friday, June 13th. They set a "strong-buy" rating and a $195.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, NRG Energy has an average rating of "Moderate Buy" and a consensus target price of $186.92.

NRG Energy Profile

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.