Putnam Investment Management LLC has recently announced that it has increased stake in NRG Energy Inc. (NYSE:NRG) by 9.74%. After grabbing 14.74 million shares, the institutional investor is now in possession of 1.31 million shares of the Utilities Company. The new investment brought the stake of investor firm to 6.53% having worth around $704.95 million. Moreover, Elliott Investment Management LP increased its share by 7.59 million to have a control over 10.36 million shares. And UBS Securities LLC raised its holdings to 0.64 million shares by acquiring 5.79 million shares or 2.57% of the stake.
NRG Energy Inc. (NRG) concluded trading on 01/10/24 at a closing price of $50.94, with 3.25 million shares of worth about $165.56 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 34.41% during that period and on Wednesday the price saw a loss of about -1.51%. Currently the company’s common shares owned by public are about 229.56M shares, out of which, 217.46M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 12 analysts are covering the NRG stock and their offered price forecasts bring an average price target of $49.33. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $56.00 and could fall to a lowest price of $40.00. The stock’s current price level is -3.26% below of average price target set by the analysts, while a dip to estimated low would result in loss of -27.35% for the stock. However, touching the estimated high of $56.00 would mean a gain of 9.04% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 78 times over the past 12 months. They bought 92,324 shares in 71 of the transactions. In 7 selling transactions, insiders dumped 56,769 shares.
Putnam Large Cap Value Fund, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in NRG Energy Inc. Putnam Large Cap Value Fund is currently holding 7.92 million shares of worth totaling $378.9 million. The company recently came buying 1.14 million shares which brought its stake up to 3.51% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 8837.0 shares, after which its hold over company’s outstanding shares expand to 3.19%, leaving 7.2 million shares with the mutual fund that have a worth of about $344.67 million. Vanguard Small Cap Index Fund, after buying 5.94 million shares, have now control over 2.63% of the stake in the company. It holds 25342.0 shares of worth $283.94 million.
NRG Energy Inc. (NYSE: NRG) started trading at $51.83, above $0.11 from concluding price of the previous day. Stock saw a price change of -1.41% in past 5 days and over the past one month there was a price change of 6.55%. Year-to-date (YTD), NRG shares are showing a performance of -1.47% which increased to 56.07% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $30.25 but also hit the highest price of $52.42 during that period. The average intraday trading volume for NRG Energy Inc. shares is 3.62 million. The stock is currently trading 1.21% above its 20-day simple moving average (SMA20), while that difference is up 6.54% for SMA50 and it goes to 29.78% higher than SMA200.
Putnam Investment Management LLC acquired 14.74 million shares of NRG Energy Inc. having value of about $704.95 million. Data submitted at the U.S SEC by Putnam Investment Management LLC revealed that the firm now holds 1.31 million shares in the company valued at close to $66626361.72, or have control over 9.74% stake in the company. NRG Energy Inc. (NYSE: NRG) currently have 229.56M outstanding shares and institutions hold larger chunk of about 102.08% of that. Holding of mutual funds in the company is about 52.43% while other institutional holders and individual stake holders have control over 8.98% and 50.30% of the stake respectively.
The stock has a current market capitalization of $11.50B and its 3Y-monthly beta is at 1.10. It has posted earnings per share of -$7.93 in the same period. It has Quick Ratio of 0.99 while making debt-to-equity ratio of 3.38. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NRG, volatility over the week remained 1.55% while standing at 1.63% over the month.
Analysts are in expectations that NRG Energy Inc. (NRG) stock would likely to be making an EPS of $5.06 in the current quarter, while forecast for next quarter EPS is $0.41 and it is $6.39 for next year. For the current quarter EPS, analysts have given the company a lowest target $5.06 which is $5.06 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$4.45 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 0.50% while it is estimated to increase by 24.07% in next year.
Analysts at 12 brokerage firms have issued recommendations for the NRG Energy Inc. (NRG)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.42. Out of those 12 Wall Street analysts, 4 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on November 06, 2023 offering a Neutral rating for the stock and assigned a target price range of between $33 and $46 to it.
