SSgA Funds Management, Inc. recently announced the acquisition of new stake in NRG Energy Inc. (NYSE:NRG). The institutional investor has increased its shareholding in the Utilities company by 2.55% to 13.13 million shares with purchase of 0.33 million shares. This fresh investment now brings its stake to 5.38% valued currently at $427.53 million. In addition, Putnam Investment Management LLC raised its holdings by 3.78 million to 10.9 million shares. And Fidelity Management & Research Co. has lifted its position by 4.37% or 0.44 million shares – to 10.41 million shares.
With over 2.32 million NRG Energy Inc. (NRG) shares trading Thursday and a closing price of $33.85 on the day, the dollar volume was approximately $78.68 million. The shares have shown a positive weekly performance of 1.87% and its price on 07/30/20 gained nearly 0.62%. Currently, there are 248.00M common shares owned by the public and among those 242.01M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for NRG have a consensus price objective of $44.22. The analysts have set the share’s price value over the next 12 months at a high of $53.00 and a low of $40.00 should the stock experience a downside. Incidentally, analysts’ outlook for the NRG Energy Inc. stock is 1.70 for the next 12 months. The average price target is 21.61% above its last price level and an upside to the estimated low will see the stock gain 15.37% over that period. But an upside of 36.13% will see the stock hit the forecast high price target while mean target price for the stock is $42.00.
Insiders at the company have transacted a total of 126 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 88 of these insider trades were purchases, accounting for 946,930 shares. Insider sales of the common stock occurred on 38 occasions, with total insider shares sold totaling 667,201 shares.
The top 3 mutual fund holders in NRG Energy Inc. are Vanguard Total Stock Market Index, Putnam Equity Income Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 6.59 million shares of the company’s stock, all valued at over $214.67 million. The company sold -0.31 million shares recently to bring their total holdings to about 2.70% of the shares outstanding. Putnam Equity Income Fund bought 2.35 million shares to see its total holdings expand to 5.31 million shares valued at over $172.88 million and representing 2.17% of the shares outstanding. Vanguard 500 Index Fund sold 67742.0 shares to bring its total holdings to over 5.07 million shares at a value of $164.96 million. Vanguard 500 Index Fund now owns shares totaling to 2.08% of the shares outstanding.
Shares of NRG Energy Inc. (NYSE: NRG) opened at $33.28, down -$0.36 from a prior closing price of $33.64. However, the script later closed the day at $33.85, up 0.62%. The company’s stock has a 5-day price change of 1.87% and 0.95% over the past three months. NRG shares are trading -14.84% year to date (YTD), with the 12-month market performance down to -0.85% lower. It has a 12-month low price of $19.54 and touched a high of $41.78 over the same period. Currently, 2.32 million shares have been traded, compared to an average intraday trading volume of 2.63 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.36%, -1.05%, and -4.10% respectively.
Institutional ownership of NRG Energy Inc. (NYSE: NRG) shares accounts for 98.22% of the company’s 248.00M shares outstanding. Mutual fund holders own 52.11%, while other institutional holders and individual stakeholders account for 7.57% and 42.80% respectively.
It has a market capitalization of $8.03B and a beta (3y monthly) value of 1.04. The stock’s trailing 12-month PE ratio is 2.07, while the earnings-per-share (ttm) stands at $16.39. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.90% over the week and 2.82% over the month.
Analysts forecast that NRG Energy Inc. (NRG) will achieve an EPS of $1.39 for the current quarter, $1.23 for the next quarter and $3.74 for 2021. The lowest estimate earnings-per-share for the quarter is $1.07 while analysts give the company a high EPS estimate of $1.95. Comparatively, EPS for the current quarter was $0.7 a year ago. Earnings per share for the fiscal year are expected to increase by 944.20%, and 9.00% over the next financial year. EPS should shrink at an annualized rate of -12.80% over the next five years, compared to 132.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate NRG Energy Inc. (NRG) as a “Strong Buy” at a consensus score of 1.70. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 2 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NRG, a number of firms have released research notes about the stock. Seaport Global Securities stated their Buy rating for the stock in a research note on May 20, 2020, with the firm’s price target at $42.50. Vertical Research coverage for the NRG Energy Inc. (NRG) stock in a research note released on March 03, 2020 offered a Buy rating with a price target of. Vertical Research was of a view on February 25, 2020 that the stock is Hold, while BMO Capital Markets gave the stock Market Perform rating on February 20, 2020, issuing a price target of $43.50. Morgan Stanley on their part issued Overweight rating on September 06, 2019.