Crossmark Global Holdings Inc. Takes $1.30 Million Position in NRG Energy, Inc. (NRG)
Crossmark Global Holdings Inc. acquired a new position in shares of NRG Energy, Inc. (NYSE:NRG) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 50,778 shares of the utilities provider’s stock, valued at approximately $1,299,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Fieldpoint Private Securities LLC acquired a new position in shares of NRG Energy during the second quarter worth about $112,000. Quantitative Systematic Strategies LLC acquired a new position in shares of NRG Energy during the third quarter worth about $211,000. Ballentine Partners LLC acquired a new position in shares of NRG Energy during the second quarter worth about $209,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of NRG Energy during the third quarter worth about $245,000. Finally, Eqis Capital Management Inc. acquired a new position in shares of NRG Energy during the third quarter worth about $260,000. Institutional investors own 92.21% of the company’s stock.
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In related news, Director Barry T. Smitherman purchased 2,541 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were acquired at an average cost of $28.38 per share, with a total value of $72,113.58. Following the completion of the purchase, the director now owns 49,000 shares of the company’s stock, valued at approximately $1,390,620. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.
Several research analysts recently commented on NRG shares. Bank of America Corporation started coverage on NRG Energy in a research note on Tuesday, October 24th. They issued a “buy” rating and a $31.00 price target on the stock. Zacks Investment Research upgraded NRG Energy from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. Barclays PLC reiterated an “overweight” rating and issued a $27.00 price target on shares of NRG Energy in a research note on Thursday, July 13th. They noted that the move was a valuation call. ValuEngine cut NRG Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 27th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $25.00 price target on shares of NRG Energy in a research note on Friday, October 20th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. NRG Energy presently has a consensus rating of “Buy” and a consensus price target of $24.67.
Shares of NRG Energy, Inc. (NYSE NRG) opened at $27.82 on Friday. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.11 and a current ratio of 1.28. NRG Energy, Inc. has a 52-week low of $10.75 and a 52-week high of $28.67. The company has a market capitalization of $8,872.30, a price-to-earnings ratio of 20.76 and a beta of 1.25.
NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.51). NRG Energy had a negative net margin of 13.48% and a positive return on equity of 8.82%. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period last year, the firm earned $1.27 earnings per share. NRG Energy’s revenue for the quarter was down 10.9% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Tuesday, October 31st. NRG Energy’s dividend payout ratio (DPR) is currently -2.35%.
About NRG Energy
NRG Energy, Inc (NRG) is an integrated power company. The Company is engaged in producing, selling and delivering electricity and related products and services in various markets in the United States. The Company’s segments include Generation, Retail, Renewables, NRG Yield, Inc (NRG Yield) and Corporate activities.
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