Allstate Corp trimmed its position in NextEra Energy, Inc. (NYSE:NEE – Get Rating) by 57.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,760 shares of the utilities provider’s stock after selling 84,638 shares during the quarter. Allstate Corp’s holdings in NextEra Energy were worth $5,401,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Connecticut Wealth Management LLC increased its holdings in shares of NextEra Energy by 1.4% in the first quarter. Connecticut Wealth Management LLC now owns 9,010 shares of the utilities provider’s stock worth $763,000 after purchasing an additional 126 shares during the last quarter. CRA Financial Services LLC grew its position in NextEra Energy by 0.5% in the first quarter. CRA Financial Services LLC now owns 26,410 shares of the utilities provider’s stock worth $2,237,000 after acquiring an additional 127 shares in the last quarter. Rosenberg Matthew Hamilton grew its position in NextEra Energy by 2.4% in the first quarter. Rosenberg Matthew Hamilton now owns 5,571 shares of the utilities provider’s stock worth $472,000 after acquiring an additional 128 shares in the last quarter. Capital Market Strategies LLC grew its position in NextEra Energy by 0.9% in the first quarter. Capital Market Strategies LLC now owns 15,137 shares of the utilities provider’s stock worth $1,282,000 after acquiring an additional 133 shares in the last quarter. Finally, Marion Wealth Management grew its position in NextEra Energy by 2.1% in the first quarter. Marion Wealth Management now owns 6,571 shares of the utilities provider’s stock worth $557,000 after acquiring an additional 136 shares in the last quarter. 76.89% of the stock is owned by institutional investors.
Insider Activity at NextEra Energy
In other news, CEO John W. Ketchum bought 12,909 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were purchased at an average cost of $78.33 per share, with a total value of $1,011,161.97. Following the transaction, the chief executive officer now directly owns 132,894 shares in the company, valued at $10,409,587.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.43% of the stock is owned by insiders.
NextEra Energy Stock Performance
NextEra Energy (NYSE:NEE – Get Rating) last released its earnings results on Friday, July 22nd. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.08. NextEra Energy had a return on equity of 11.97% and a net margin of 14.75%. The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same period in the prior year, the firm earned $0.71 EPS. The firm’s revenue was up 32.0% on a year-over-year basis. Analysts expect that NextEra Energy, Inc. will post 2.89 earnings per share for the current fiscal year.
NextEra Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Tuesday, August 30th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Monday, August 29th. NextEra Energy’s payout ratio is 129.77%.
Analyst Upgrades and Downgrades
Several research firms recently commented on NEE. Seaport Res Ptn lowered NextEra Energy from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 26th. Wells Fargo & Company boosted their target price on NextEra Energy from $107.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. KeyCorp dropped their target price on NextEra Energy from $89.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, July 19th. UBS Group dropped their target price on NextEra Energy to $109.00 in a research report on Tuesday, September 6th. Finally, Credit Suisse Group set a $76.00 target price on NextEra Energy in a research report on Monday, June 20th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $92.80.
About NextEra Energy
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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