Principal Financial Group Inc. raised its stake in NRG Yield, Inc. (NYSE:NYLD) by 23.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 59,796 shares of the utilities provider’s stock after buying an additional 11,308 shares during the quarter. Principal Financial Group Inc. owned about 0.09% of NRG Yield worth $1,052,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in NRG Yield in the first quarter valued at approximately $2,779,000. Brookstone Capital Management acquired a new stake in shares of NRG Yield in the second quarter valued at approximately $284,000. HighTower Advisors LLC acquired a new stake in shares of NRG Yield in the first quarter valued at approximately $407,000. Janus Capital Management LLC raised its holdings in shares of NRG Yield by 7.1% in the first quarter. Janus Capital Management LLC now owns 28,600 shares of the utilities provider’s stock valued at $506,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Eventide Asset Management LLC raised its holdings in shares of NRG Yield by 7.7% in the first quarter. Eventide Asset Management LLC now owns 70,000 shares of the utilities provider’s stock valued at $1,239,000 after purchasing an additional 5,000 shares during the last quarter. 28.31% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on NYLD shares. Zacks Investment Research upgraded shares of NRG Yield from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Tuesday. BidaskClub downgraded shares of NRG Yield from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 3rd. Deutsche Bank AG downgraded shares of NRG Yield from a “buy” rating to a “hold” rating and lowered their price objective for the company from $19.00 to $18.00 in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $17.00 price objective on shares of NRG Yield in a report on Monday, July 31st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $20.17.
Shares of NRG Yield, Inc. (NYLD) opened at 19.00 on Wednesday. NRG Yield, Inc. has a 12-month low of $13.98 and a 12-month high of $20.00. The stock has a 50 day moving average of $19.00 and a 200-day moving average of $19.00. The firm has a market capitalization of $1.87 billion, a P/E ratio of 41.39 and a beta of 2.57.
NRG Yield (NYSE:NYLD) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. NRG Yield had a return on equity of 1.89% and a net margin of 4.47%. The company had revenue of $284.00 million for the quarter, compared to analysts’ expectations of $297.66 million. During the same period last year, the business earned $0.29 EPS. NRG Yield’s quarterly revenue was up .4% compared to the same quarter last year. On average, equities research analysts predict that NRG Yield, Inc. will post $0.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a $0.28 dividend. This is a boost from NRG Yield’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date was Wednesday, August 30th. NRG Yield’s dividend payout ratio (DPR) is currently 248.89%.
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NRG Yield Profile
NRG Yield, Inc serves as the primary vehicle, through which NRG Energy, Inc owns, operates and acquires contracted renewable and conventional generation and thermal infrastructure assets. It owns a diversified portfolio of contracted renewable and conventional generation and thermal infrastructure assets in the United States.
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