NRG Energy Inc. (NRG) Short Interest Update
NRG Energy Inc. (NYSE:NRG) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 20,116,834 shares, a growth of 26.6% from the October 14th total of 15,885,972 shares. Based on an average trading volume of 6,600,734 shares, the days-to-cover ratio is presently 3.0 days. Approximately 6.4% of the shares of the stock are sold short.
A number of brokerages have weighed in on NRG. Zacks Investment Research lowered NRG Energy from a “buy” rating to a “hold” rating in a research note on Friday. Barclays PLC reiterated a “buy” rating and set a $16.00 price objective on shares of NRG Energy in a research report on Monday, November 7th. Citigroup Inc. upgraded NRG Energy from a “sell” rating to a “neutral” rating and set a $11.00 price objective on the stock in a research report on Monday, November 7th. TheStreet lowered NRG Energy from a “hold” rating to a “sell” rating in a research report on Thursday, September 8th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $21.00 price objective on shares of NRG Energy in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.42.
Shares of NRG Energy (NYSE:NRG) opened at 11.68 on Tuesday. The company’s 50-day moving average price is $11.11 and its 200 day moving average price is $13.35. The stock’s market capitalization is $3.68 billion. NRG Energy has a one year low of $8.80 and a one year high of $18.32.
NRG Energy (NYSE:NRG) last issued its earnings results on Friday, November 4th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.48. NRG Energy had a positive return on equity of 10.15% and a negative net margin of 47.59%. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. The business’s revenue was down 10.9% compared to the same quarter last year. Analysts anticipate that NRG Energy will post $0.92 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, October 28th. This represents a $0.12 annualized dividend and a dividend yield of 1.03%. NRG Energy’s dividend payout ratio (DPR) is -0.66%.
Large investors have recently modified their holdings of the company. Toronto Dominion Bank boosted its stake in shares of NRG Energy by 431.7% in the third quarter. Toronto Dominion Bank now owns 9,204 shares of the company’s stock valued at $103,000 after buying an additional 7,473 shares during the period. Nine Chapters Capital Management LLC purchased a new stake in shares of NRG Energy during the third quarter valued at about $114,000. BB&T Securities LLC purchased a new stake in shares of NRG Energy during the third quarter valued at about $136,000. Advisor Partners LLC boosted its stake in shares of NRG Energy by 7.6% in the third quarter. Advisor Partners LLC now owns 13,021 shares of the company’s stock valued at $146,000 after buying an additional 919 shares during the period. Finally, Acrospire Investment Management LLC purchased a new stake in shares of NRG Energy during the second quarter valued at about $148,000. 96.30% of the stock is currently owned by hedge funds and other institutional investors.
NRG Energy Company Profile
NRG Energy, Inc (NRG) is an integrated power company that produces, sells and delivers energy, and energy products and services in various power markets in the United States. The Company’s segments include NRG Business, which includes power generation, the carbon capture business and energy services; NRG Home, which includes NRG Home Retail, which consists of residential retail services and products, and NRG Home Solar, which includes the installation and leasing of residential solar services; NRG Renew, which includes solar and wind assets, excluding those in the NRG Yield and NRG Home Solar segments; NRG Yield, and corporate activities.
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