Allspring Global Investments Holdings LLC Raises Stock Holdings in NRG Energy, Inc. (NYSE:NRG)

Allspring Global Investments Holdings LLC lifted its holdings in NRG Energy, Inc. (NYSE:NRG) by 62.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 385,953 shares of the utilities provider’s stock after purchasing an additional 148,509 shares during the period. Allspring Global Investments Holdings LLC’s holdings in NRG Energy were worth $30,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NRG. Capitolis Liquid Global Markets LLC increased its holdings in NRG Energy by 253.2% during the 1st quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock worth $119,541,000 after purchasing an additional 1,266,000 shares during the period. Zimmer Partners LP purchased a new position in NRG Energy during the 1st quarter worth $64,306,000. Assenagon Asset Management S.A. increased its holdings in NRG Energy by 65.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock worth $124,318,000 after purchasing an additional 633,765 shares during the period. Jupiter Asset Management Ltd. purchased a new position in NRG Energy during the 1st quarter worth $26,448,000. Finally, Gotham Asset Management LLC increased its holdings in shares of NRG Energy by 93.1% in the 4th quarter. Gotham Asset Management LLC now owns 357,618 shares of the utilities provider’s stock valued at $18,489,000 after acquiring an additional 172,400 shares during the period. 97.72% of the stock is currently owned by hedge funds and other institutional investors.

NRG Energy Stock Down 0.2 %

Shares of NRG stock opened at $83.60 on Wednesday. NRG Energy, Inc. has a 1-year low of $36.61 and a 1-year high of $87.58. The stock’s fifty day moving average price is $78.04 and its 200 day moving average price is $73.11. The company has a debt-to-equity ratio of 3.61, a current ratio of 1.01 and a quick ratio of 0.95. The company has a market cap of $17.43 billion, a price-to-earnings ratio of 11.84 and a beta of 1.08.

NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, topping the consensus estimate of $1.55 by $1.82. NRG Energy had a return on equity of 42.60% and a net margin of 5.76%. The firm had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $8.32 billion. During the same period in the previous year, the business earned $1.10 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts expect that NRG Energy, Inc. will post 4.47 earnings per share for the current fiscal year.

NRG Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a dividend of $0.4075 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.63 dividend on an annualized basis and a yield of 1.95%. NRG Energy’s dividend payout ratio is currently 23.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. 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 report on Wednesday, May 15th. StockNews.com upgraded NRG Energy from a “hold” rating to a “buy” rating in a report on Sunday. 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 report on Wednesday, May 8th. Finally, 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 report on Tuesday, May 28th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, NRG Energy currently has a consensus rating of “Moderate Buy” and an average price target of $71.14.

About NRG Energy

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.