9,738 Shares in NRG Energy, Inc. (NYSE:NRG) Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new stake in NRG Energy, Inc. (NYSE:NRG) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 9,738 shares of the utilities provider’s stock, valued at approximately $758,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NRG. Banco Santander S.A. acquired a new position in shares of NRG Energy in the second quarter worth $217,671,000. Capitolis Liquid Global Markets LLC raised its stake in shares of 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 in the last quarter. Zimmer Partners LP bought a new stake in shares of NRG Energy in the 1st quarter valued at approximately $64,306,000. Assenagon Asset Management S.A. lifted its stake in NRG Energy by 65.8% in the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock valued at $124,318,000 after acquiring an additional 633,765 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in NRG Energy in the first quarter worth approximately $26,448,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.

NRG Energy Trading Up 2.9 %

NRG Energy stock opened at $85.01 on Tuesday. NRG Energy, Inc. has a 52 week low of $36.61 and a 52 week high of $87.58. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.11 and a current ratio of 1.18. The firm has a market capitalization of $17.54 billion, a PE ratio of 12.04 and a beta of 1.08. The business’s 50-day simple moving average is $78.26 and its 200-day simple moving average is $73.99.

NRG Energy (NYSE:NRG) last released its earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $1.82. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The firm had revenue of $6.66 billion for the quarter, compared to analyst estimates of $8.32 billion. During the same quarter last year, the firm posted $1.10 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that NRG Energy, Inc. will post 4.45 earnings per share for the current year.

NRG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid 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 currently 23.09%.

Analyst Upgrades and Downgrades

NRG has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of NRG Energy from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Morgan Stanley boosted their price target on NRG Energy from $70.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 28th. BMO Capital Markets upped their price target on NRG Energy from $73.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 8th. Finally, StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.