Cullen Frost Bankers Inc. Makes New $84,000 Investment in NRG Energy, Inc. (NYSE:NRG)

Cullen Frost Bankers Inc. purchased a new stake in shares of NRG Energy, Inc. (NYSE:NRG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,077 shares of the utilities provider’s stock, valued at approximately $84,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of NRG. Banco Santander S.A. acquired a new position in NRG Energy during the second quarter worth about $217,671,000. Capitolis Liquid Global Markets LLC grew its stake in shares of NRG Energy by 253.2% in the 1st quarter. Capitolis Liquid Global Markets LLC now owns 1,766,000 shares of the utilities provider’s stock worth $119,541,000 after purchasing an additional 1,266,000 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of NRG Energy by 11.1% in the 1st quarter. Russell Investments Group Ltd. now owns 1,610,562 shares of the utilities provider’s stock worth $109,007,000 after purchasing an additional 160,415 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in NRG Energy by 65.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,596,684 shares of the utilities provider’s stock valued at $124,318,000 after purchasing an additional 633,765 shares during the last quarter. Finally, Zimmer Partners LP bought a new stake in NRG Energy during the first quarter worth approximately $64,306,000. Institutional investors own 97.72% of the company’s stock.

NRG Energy Trading Up 0.0 %

Shares of NYSE NRG opened at $77.95 on Wednesday. NRG Energy, Inc. has a one year low of $36.61 and a one year high of $87.58. The firm has a market capitalization of $16.25 billion, a PE ratio of 11.04 and a beta of 1.10. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 3.51. The business has a 50-day moving average price of $78.17 and a two-hundred day moving average price of $75.11.

NRG Energy (NYSE:NRG) last posted its quarterly earnings results on Thursday, August 8th. The utilities provider reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $1.82. NRG Energy had a return on equity of 43.69% and a net margin of 7.19%. The company had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $8.32 billion. During the same period last year, the business earned $1.10 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts predict that NRG Energy, Inc. will post 4.45 earnings per share for the current fiscal year.

NRG Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Thursday, August 1st. NRG Energy’s dividend payout ratio (DPR) is presently 23.09%.

Analyst Ratings Changes

NRG has been the subject of a number of recent research reports. StockNews.com downgraded NRG Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Wells Fargo & Company increased their target price on NRG Energy from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Finally, Morgan Stanley upped their price target on NRG Energy from $70.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 28th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $72.57.

About NRG Energy

NRG Energy, Inc, together with its subsidiaries, operates as an energy and home services company in the United States and Canada. It operates through Texas; East; West/Services/Other; Vivint Smart Home; and Corporate Activities segments. The company produces and sells electricity generated using coal, oil, solar, and battery storage; natural gas; and a cloud-based home platform, including hardware, software, sales, installation, customer service, technical support, and professional monitoring solutions.