NRG Energy Inc (NYSE:NRG) Short Interest Up 25.7% in May

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NRG Energy Inc (NYSE:NRG) was the recipient of a significant increase in short interest in May. As of May 31st, there was short interest totalling 11,538,400 shares, an increase of 25.7% from the April 30th total of 9,181,300 shares. Currently, 4.2% of the shares of the stock are short sold. Based on an average trading volume of 3,570,000 shares, the days-to-cover ratio is currently 3.2 days.

A number of hedge funds have recently made changes to their positions in NRG. FMR LLC boosted its holdings in NRG Energy by 29.3% in the fourth quarter. FMR LLC now owns 18,293,260 shares of the utilities provider’s stock valued at $724,413,000 after acquiring an additional 4,150,186 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in NRG Energy by 141.7% in the fourth quarter. Two Sigma Advisers LP now owns 3,511,494 shares of the utilities provider’s stock valued at $139,055,000 after acquiring an additional 2,058,557 shares during the last quarter. Two Sigma Investments LP boosted its holdings in NRG Energy by 870.4% in the fourth quarter. Two Sigma Investments LP now owns 2,068,071 shares of the utilities provider’s stock valued at $81,896,000 after acquiring an additional 1,854,960 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in NRG Energy by 3,810.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,282,327 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 1,249,537 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in NRG Energy by 5.8% in the fourth quarter. BlackRock Inc. now owns 19,705,439 shares of the utilities provider’s stock valued at $780,337,000 after acquiring an additional 1,079,801 shares during the last quarter. Institutional investors and hedge funds own 99.74% of the company’s stock.

NRG has been the subject of several research analyst reports. Deutsche Bank set a $43.00 target price on NRG Energy and gave the stock a “hold” rating in a research note on Friday, March 1st. Macquarie set a $48.00 target price on NRG Energy and gave the stock a “buy” rating in a research note on Friday, March 1st. ValuEngine raised NRG Energy from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Zacks Investment Research downgraded NRG Energy from a “strong-buy” rating to a “hold” rating and set a $41.00 target price for the company. in a research note on Monday, May 27th. Finally, Morgan Stanley set a $46.00 target price on NRG Energy and gave the stock a “hold” rating in a research note on Thursday, May 16th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $43.57.

Shares of NRG Energy stock traded up $0.17 on Thursday, hitting $34.97. The stock had a trading volume of 169,754 shares, compared to its average volume of 3,454,539. NRG Energy has a twelve month low of $29.90 and a twelve month high of $43.66. The company has a market capitalization of $9.26 billion, a P/E ratio of 14.52 and a beta of 0.87.

NRG Energy (NYSE:NRG) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.05). NRG Energy had a net margin of 4.64% and a negative return on equity of 125.35%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company earned $0.87 EPS. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts predict that NRG Energy will post 4.12 EPS for the current fiscal year.

About NRG Energy

NRG Energy, Inc, together with its subsidiaries, operates as an energy company in the United States. The company is involved in the producing, selling, and delivering electricity and related products and services to 3.1 million residential, industrial, and commercial consumers. It generates electricity using natural gas, coal, oil, solar, nuclear, wind, fossil fuel, and nuclear sources.

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