State Treasurer State of Michigan Has $3.29 Million Holding in NRG Energy Inc (NRG)

State Treasurer State of Michigan Has $3.29 Million Holding in NRG Energy Inc (NRG)

State Treasurer State of Michigan cut its stake in NRG Energy Inc (NYSE:NRG) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,968 shares of the utilities provider’s stock after selling 7,400 shares during the period. State Treasurer State of Michigan’s holdings in NRG Energy were worth $3,286,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Contravisory Investment Management Inc. boosted its holdings in shares of NRG Energy by 3.4% during the 4th quarter. Contravisory Investment Management Inc. now owns 15,232 shares of the utilities provider’s stock worth $603,000 after buying an additional 506 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of NRG Energy by 49.8% during the 4th quarter. Advisors Asset Management Inc. now owns 2,985 shares of the utilities provider’s stock worth $118,000 after buying an additional 992 shares in the last quarter. Sterling Investment Advisors Ltd. boosted its holdings in shares of NRG Energy by 202.8% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 1,493 shares of the utilities provider’s stock worth $59,000 after buying an additional 1,000 shares in the last quarter. Private Capital Group LLC boosted its holdings in shares of NRG Energy by 67.9% during the 4th quarter. Private Capital Group LLC now owns 2,498 shares of the utilities provider’s stock worth $99,000 after buying an additional 1,010 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of NRG Energy by 6.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 26,368 shares of the utilities provider’s stock worth $986,000 after buying an additional 1,487 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

In related news, VP Robert J. Gaudette sold 18,571 shares of the stock in a transaction on Thursday, January 10th. The stock was sold at an average price of $39.42, for a total value of $732,068.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christopher Moser sold 34,296 shares of the stock in a transaction on Friday, January 4th. The stock was sold at an average price of $38.23, for a total value of $1,311,136.08. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Shares of NRG traded up $0.42 during trading hours on Monday, reaching $42.25. The stock had a trading volume of 450,622 shares, compared to its average volume of 3,079,200. NRG Energy Inc has a 12 month low of $23.75 and a 12 month high of $43.08. The company has a quick ratio of 1.42, a current ratio of 1.57 and a debt-to-equity ratio of 7.16. The stock has a market cap of $12.13 billion, a P/E ratio of 38.76 and a beta of 0.78.

NRG Energy (NYSE:NRG) last issued its earnings results on Thursday, November 8th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.18). NRG Energy had a positive return on equity of 61.11% and a negative net margin of 11.52%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. NRG Energy’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts expect that NRG Energy Inc will post 3.11 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Friday, February 1st will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Thursday, January 31st. NRG Energy’s dividend payout ratio is currently 11.01%.

NRG has been the topic of a number of research analyst reports. Deutsche Bank cut NRG Energy from a “buy” rating to a “hold” rating and set a $45.00 price target on the stock. in a report on Monday, January 28th. Zacks Investment Research upgraded NRG Energy from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Friday, January 4th. SunTrust Banks increased their price target on NRG Energy from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, October 29th. ValuEngine upgraded NRG Energy from a “hold” rating to a “buy” rating in a report on Tuesday, November 13th. Finally, Citigroup increased their price target on NRG Energy from $38.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, December 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. NRG Energy presently has a consensus rating of “Buy” and a consensus price target of $41.86.

About NRG Energy

NRG Energy, Inc, together with its subsidiaries, operates as an integrated power company in the United States. The company is involved in the generation of electricity using fossil fuel and nuclear sources. The company provides electricity to 2.9 million residential, commercial, and industrial consumers; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; and carbon management and specialty services.

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