Spectrum Management Group Inc. reduced its holdings in shares of NextEra Energy Inc (NYSE:NEE) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,495 shares of the utilities provider’s stock after selling 500 shares during the period. Spectrum Management Group Inc.’s holdings in NextEra Energy were worth $858,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Beach Investment Management LLC. increased its position in shares of NextEra Energy by 1,572.6% in the 2nd quarter. Beach Investment Management LLC. now owns 163,583 shares of the utilities provider’s stock valued at $22,923,000 after purchasing an additional 153,803 shares during the last quarter. BDO Wealth Advisors LLC acquired a new position in shares of NextEra Energy in the 2nd quarter valued at $206,000. Utah Retirement Systems boosted its holdings in shares of NextEra Energy by 1.4% in the 2nd quarter. Utah Retirement Systems now owns 85,722 shares of the utilities provider’s stock valued at $12,012,000 after buying an additional 1,200 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of NextEra Energy by 4.4% in the 2nd quarter. Pacer Advisors Inc. now owns 10,204 shares of the utilities provider’s stock valued at $1,430,000 after buying an additional 429 shares in the last quarter. Finally, Tobam acquired a new position in shares of NextEra Energy in the 2nd quarter valued at $4,111,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on NEE. Zacks Investment Research cut shares of NextEra Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Morgan Stanley cut their price objective on shares of NextEra Energy from $172.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, February 13th. Argus restated a “buy” rating and set a $173.00 price objective on shares of NextEra Energy in a research report on Tuesday, December 5th. They noted that the move was a valuation call. Guggenheim restated a “buy” rating and set a $182.00 price objective on shares of NextEra Energy in a research report on Friday, January 26th. Finally, UBS Group started coverage on shares of NextEra Energy in a research report on Friday, February 2nd. They set a “buy” rating and a $177.00 price objective for the company. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $161.38.
In other news, CEO Armando Pimentel, Jr. sold 9,250 shares of NextEra Energy stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $151.83, for a total transaction of $1,404,427.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Armando Pimentel, Jr. sold 42,372 shares of NextEra Energy stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $157.45, for a total transaction of $6,671,471.40. Following the sale, the chief executive officer now owns 121,958 shares in the company, valued at approximately $19,202,287.10. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.
NextEra Energy Inc (NYSE NEE) traded up $1.62 during trading on Friday, hitting $156.05. 1,632,966 shares of the company’s stock traded hands, compared to its average volume of 2,300,000. NextEra Energy Inc has a one year low of $125.96 and a one year high of $159.64. The firm has a market cap of $73,410.00, a PE ratio of 13.74, a P/E/G ratio of 2.58 and a beta of 0.28. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.52.
NextEra Energy (NYSE:NEE) last released its earnings results on Friday, January 26th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.06). NextEra Energy had a return on equity of 11.50% and a net margin of 31.28%. The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the business posted $1.21 earnings per share. NextEra Energy’s revenue was up 8.4% on a year-over-year basis. equities research analysts predict that NextEra Energy Inc will post 7.68 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.85%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.98. NextEra Energy’s payout ratio is 34.60%.
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NextEra Energy Company Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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