Panagora Asset Management Inc. Has $8.08 Million Position in NRG Energy, Inc. (NYSE:NRG)

Panagora Asset Management Inc. increased its position in shares of NRG Energy, Inc. (NYSE:NRG) by 102.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 103,829 shares of the utilities provider’s stock after purchasing an additional 52,516 shares during the quarter. Panagora Asset Management Inc.’s holdings in NRG Energy were worth $8,084,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. First Trust Direct Indexing L.P. increased its stake in NRG Energy by 2.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,813 shares of the utilities provider’s stock worth $393,000 after acquiring an additional 161 shares during the period. Kingswood Wealth Advisors LLC increased its stake in NRG Energy by 0.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 23,267 shares of the utilities provider’s stock worth $1,575,000 after acquiring an additional 174 shares during the period. Czech National Bank increased its stake in NRG Energy by 0.5% during the 1st quarter. Czech National Bank now owns 39,723 shares of the utilities provider’s stock worth $2,689,000 after acquiring an additional 181 shares during the period. First Horizon Advisors Inc. increased its stake in NRG Energy by 76.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 442 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 191 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of NRG Energy by 1.2% in the 2nd quarter. Fifth Third Bancorp now owns 16,962 shares of the utilities provider’s stock valued at $1,321,000 after purchasing an additional 198 shares during the last quarter. 97.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. StockNews.com upgraded NRG Energy from a “hold” rating to a “buy” rating in a research note on Sunday, August 25th. BMO Capital Markets lifted their price target on NRG Energy from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, May 8th. Morgan Stanley lifted their price target on NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 28th. Finally, Wells Fargo & Company lifted their price target on NRG Energy from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.14.

NRG Energy Trading Up 2.9 %

Shares of NRG stock opened at $85.01 on Friday. The firm has a market capitalization of $17.72 billion, a P/E ratio of 12.04 and a beta of 1.08. NRG Energy, Inc. has a twelve month low of $36.61 and a twelve month high of $87.58. The company has a quick ratio of 0.95, a current ratio of 1.01 and a debt-to-equity ratio of 3.61. The stock’s fifty day simple moving average is $78.19 and its 200 day simple moving average is $73.46.

NRG Energy (NYSE:NRG) last issued its quarterly earnings data on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $1.82. The business had revenue of $6.66 billion for the quarter, compared to analyst estimates of $8.32 billion. NRG Energy had a return on equity of 42.60% and a net margin of 5.76%. NRG Energy’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS. As a group, sell-side analysts predict that NRG Energy, Inc. will post 4.47 EPS for the current fiscal year.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 1.92%. The ex-dividend date was Thursday, August 1st. NRG Energy’s payout ratio is presently 23.09%.

NRG Energy Company 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.