Envestnet Asset Management Inc. Lowers Stake in NextEra Energy (NEE)

Envestnet Asset Management Inc. lessened its holdings in NextEra Energy (NYSE:NEE) by 17.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 72,022 shares of the utilities provider’s stock after selling 15,518 shares during the period. Envestnet Asset Management Inc.’s holdings in NextEra Energy were worth $11,762,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Millennium Management LLC raised its stake in shares of NextEra Energy by 243.4% during the 4th quarter. Millennium Management LLC now owns 1,465,988 shares of the utilities provider’s stock worth $228,973,000 after acquiring an additional 1,039,072 shares in the last quarter. Standard Life Aberdeen plc raised its stake in shares of NextEra Energy by 104.7% during the 4th quarter. Standard Life Aberdeen plc now owns 1,666,351 shares of the utilities provider’s stock worth $260,326,000 after acquiring an additional 852,434 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in shares of NextEra Energy during the 4th quarter worth approximately $52,439,000. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of NextEra Energy by 6.5% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,968,016 shares of the utilities provider’s stock worth $619,764,000 after acquiring an additional 243,649 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of NextEra Energy during the 4th quarter worth approximately $35,500,000. 76.38% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of NextEra Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 29th. KeyCorp upped their price target on shares of NextEra Energy from $165.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, April 18th. JPMorgan Chase upped their price target on shares of NextEra Energy from $167.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, April 10th. Morgan Stanley upped their price target on shares of NextEra Energy from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, April 16th. Finally, Guggenheim restated a “buy” rating and set a $182.00 price target on shares of NextEra Energy in a research note on Friday, January 26th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. NextEra Energy has an average rating of “Buy” and a consensus target price of $168.92.

NEE stock opened at $156.45 on Friday. The firm has a market capitalization of $73.66 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 2.31 and a beta of 0.23. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 0.78. NextEra Energy has a 12 month low of $135.60 and a 12 month high of $165.15.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Tuesday, April 24th. The utilities provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.78 by $0.16. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $4.15 billion. NextEra Energy had a net margin of 48.13% and a return on equity of 10.91%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.75 EPS. research analysts expect that NextEra Energy will post 7.74 EPS for the current fiscal year.

In other news, Director James L. Robo sold 81,489 shares of the company’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $156.81, for a total value of $12,778,290.09. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Manoochehr K. Nazar sold 13,890 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $155.64, for a total transaction of $2,161,839.60. Following the completion of the sale, the insider now directly owns 142,429 shares in the company, valued at $22,167,649.56. The disclosure for this sale can be found here. Insiders sold a total of 142,754 shares of company stock worth $22,504,957 over the last ninety days. Insiders own 0.55% of the company’s stock.

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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.

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Institutional Ownership by Quarter for NextEra Energy (NYSE:NEE)

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