Amalgamated Bank Has $29.81 Million Stock Position in NextEra Energy, Inc. $NEE

Amalgamated Bank lowered its position in NextEra Energy, Inc. (NYSE:NEE) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 394,910 shares of the utilities provider’s stock after selling 6,751 shares during the period. Amalgamated Bank’s holdings in NextEra Energy were worth $29,812,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEE. Tred Avon Family Wealth LLC bought a new position in NextEra Energy in the third quarter valued at approximately $2,967,000. FAS Wealth Partners Inc. raised its position in shares of NextEra Energy by 5.2% during the third quarter. FAS Wealth Partners Inc. now owns 49,843 shares of the utilities provider’s stock worth $3,763,000 after purchasing an additional 2,477 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in NextEra Energy by 90.3% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,151 shares of the utilities provider’s stock worth $464,000 after purchasing an additional 2,919 shares in the last quarter. Aviance Capital Partners LLC lifted its stake in NextEra Energy by 5.5% in the third quarter. Aviance Capital Partners LLC now owns 9,559 shares of the utilities provider’s stock valued at $722,000 after buying an additional 500 shares in the last quarter. Finally, Sigma Investment Counselors Inc. increased its position in shares of NextEra Energy by 0.3% during the third quarter. Sigma Investment Counselors Inc. now owns 61,658 shares of the utilities provider’s stock worth $4,655,000 after acquiring an additional 201 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

Analyst Upgrades and Downgrades

NEE has been the topic of several recent research reports. Cowen assumed coverage on NextEra Energy in a research note on Wednesday, October 15th. They issued a “buy” rating on the stock. Morgan Stanley cut their target price on NextEra Energy from $98.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, November 20th. Wolfe Research raised their price target on shares of NextEra Energy from $87.00 to $94.00 and gave the stock an “outperform” rating in a research note on Monday, December 1st. Argus set a $90.00 price objective on shares of NextEra Energy in a research report on Wednesday, October 29th. Finally, UBS Group set a $91.00 target price on shares of NextEra Energy and gave the company a “buy” rating in a research report on Wednesday, December 17th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

NextEra Energy Stock Up 1.8%

Shares of NEE opened at $83.65 on Friday. The company has a market capitalization of $174.21 billion, a PE ratio of 26.64, a PEG ratio of 2.59 and a beta of 0.74. The stock’s 50-day moving average price is $82.32 and its two-hundred day moving average price is $78.23. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.30. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $87.53.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.09. NextEra Energy had a net margin of 24.72% and a return on equity of 12.42%. The firm had revenue of $7.97 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same quarter last year, the business earned $1.03 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 21st were paid a dividend of $0.5665 per share. The ex-dividend date of this dividend was Friday, November 21st. This represents a $2.27 annualized dividend and a yield of 2.7%. NextEra Energy’s dividend payout ratio (DPR) is currently 72.29%.

Insiders Place Their Bets

In other news, CEO Armando Pimentel, Jr. sold 145,140 shares of NextEra Energy stock in a transaction on Monday, November 17th. The shares were sold at an average price of $83.91, for a total value of $12,178,697.40. Following the completion of the sale, the chief executive officer owned 162,693 shares in the company, valued at $13,651,569.63. The trade was a 47.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

NextEra Energy Company 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.