Capital Group Private Client Services Inc. reduced its position in shares of NextEra Energy, Inc. (NYSE:NEE – Get Rating) by 48.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,487 shares of the utilities provider’s stock after selling 97,367 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in NextEra Energy were worth $8,766,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of NEE. Contravisory Investment Management Inc. boosted its stake in shares of NextEra Energy by 295.5% during the 1st quarter. Contravisory Investment Management Inc. now owns 348 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 260 shares in the last quarter. Evolution Advisers Inc. purchased a new position in NextEra Energy in the 1st quarter valued at about $33,000. Comprehensive Financial Consultants Institutional Inc. purchased a new position in NextEra Energy in the 4th quarter valued at about $34,000. PYA Waltman Capital LLC purchased a new position in NextEra Energy in the 1st quarter valued at about $36,000. Finally, Guardian Wealth Management Inc. purchased a new position in NextEra Energy in the 4th quarter valued at about $43,000. 76.89% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at NextEra Energy
In related news, CEO John W. Ketchum bought 12,909 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was purchased at an average price of $78.33 per share, for a total transaction of $1,011,161.97. Following the acquisition, the chief executive officer now owns 132,894 shares of the company’s stock, valued at $10,409,587.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.38% of the company’s stock.
NextEra Energy Stock Down 0.4 %
NextEra Energy (NYSE:NEE – Get Rating) last announced its quarterly earnings results on Friday, July 22nd. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. The business had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.26 billion. NextEra Energy had a net margin of 14.75% and a return on equity of 11.97%. The business’s revenue was up 32.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 EPS. On average, equities research analysts predict that NextEra Energy, Inc. will post 2.89 earnings per share for the current year.
NextEra Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Tuesday, August 30th will be issued a dividend of $0.425 per share. The ex-dividend date is Monday, August 29th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.89%. NextEra Energy’s dividend payout ratio is currently 129.77%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on NEE. Credit Suisse Group set a $76.00 price target on shares of NextEra Energy in a research note on Monday, June 20th. Barclays decreased their price target on shares of NextEra Energy from $90.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Guggenheim reaffirmed a “buy” rating and issued a $91.00 price target on shares of NextEra Energy in a research note on Friday, July 22nd. Seaport Res Ptn lowered shares of NextEra Energy from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 26th. Finally, Morgan Stanley upgraded shares of NextEra Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $94.00 to $99.00 in a report on Tuesday, September 6th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, NextEra Energy presently has an average rating of “Moderate Buy” and an average price target of $92.80.
NextEra Energy Profile
NextEra Energy, Inc, through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear, coal, and natural gas facilities. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.
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