DAVENPORT & Co LLC Lowers Position in NextEra Energy, Inc. $NEE

DAVENPORT & Co LLC trimmed its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,972,897 shares of the utilities provider’s stock after selling 16,797 shares during the period. NextEra Energy comprises about 0.8% of DAVENPORT & Co LLC’s portfolio, making the stock its 27th largest position. DAVENPORT & Co LLC owned approximately 0.10% of NextEra Energy worth $149,324,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Activest Wealth Management boosted its stake in shares of NextEra Energy by 79.7% during the second quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 157 shares in the last quarter. Harbor Asset Planning Inc. purchased a new stake in NextEra Energy during the second quarter worth $25,000. Goodman Advisory Group LLC bought a new stake in NextEra Energy during the 2nd quarter valued at $25,000. 1 North Wealth Services LLC purchased a new position in shares of NextEra Energy in the 1st quarter valued at $26,000. Finally, Quaker Wealth Management LLC increased its holdings in shares of NextEra Energy by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 386 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 772 shares during the period. Institutional investors own 78.72% of the company’s stock.

Analyst Upgrades and Downgrades

NEE has been the subject of a number of analyst reports. Mizuho upped their price objective on NextEra Energy from $78.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Evercore ISI reissued an “outperform” rating and set a $93.00 price target on shares of NextEra Energy in a research report on Tuesday, October 28th. BMO Capital Markets restated an “outperform” rating and issued a $89.00 price target (down from $90.00) on shares of NextEra Energy in a report on Wednesday, December 10th. UBS Group set a $91.00 price objective on shares of NextEra Energy and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Finally, Citigroup reissued a “buy” rating and set a $96.00 target price (up previously from $84.00) on shares of NextEra Energy in a research report on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.56.

Insider Buying and Selling

In other NextEra Energy news, CEO Armando Pimentel, Jr. sold 145,140 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $83.91, for a total transaction of $12,178,697.40. Following the completion of the transaction, the chief executive officer directly owned 162,693 shares of the company’s stock, valued at approximately $13,651,569.63. This trade represents a 47.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark Lemasney sold 846 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the sale, the executive vice president owned 9,267 shares in the company, valued at $694,098.30. The trade was a 8.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 157,322 shares of company stock worth $13,148,943. 0.18% of the stock is owned by company insiders.

NextEra Energy Stock Down 0.3%

NEE stock opened at $79.80 on Wednesday. The firm has a 50 day moving average of $83.25 and a 200 day moving average of $77.16. The stock has a market capitalization of $166.19 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.69 and a beta of 0.74. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.30. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $87.53.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. NextEra Energy had a net margin of 24.72% and a return on equity of 12.42%. The business had revenue of $7.97 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the prior year, the business posted $1.03 EPS. NextEra Energy’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 21st were issued a dividend of $0.5665 per share. The ex-dividend date of this dividend was Friday, November 21st. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.8%. NextEra Energy’s payout ratio is 71.97%.

NextEra Energy Profile

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.