Monarch Capital Management Inc. lowered its holdings in NextEra Energy Inc (NYSE:NEE) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,957 shares of the utilities provider’s stock after selling 320 shares during the period. Monarch Capital Management Inc.’s holdings in NextEra Energy were worth $3,679,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in NEE. Manchester Financial Inc. acquired a new position in shares of NextEra Energy in the 2nd quarter worth approximately $26,000. Mackey Komara & Dankovich LLC grew its stake in shares of NextEra Energy by 446.4% in the 2nd quarter. Mackey Komara & Dankovich LLC now owns 765 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 625 shares during the last quarter. Ellis Investment Partners LLC acquired a new position in shares of NextEra Energy in the 1st quarter worth approximately $32,000. Legacy Advisors LLC grew its stake in shares of NextEra Energy by 1,000.0% in the 2nd quarter. Legacy Advisors LLC now owns 165 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 150 shares during the last quarter. Finally, Massey Quick Simon & CO. LLC acquired a new position in shares of NextEra Energy in the 1st quarter worth approximately $39,000. 75.86% of the stock is currently owned by institutional investors.
In related news, EVP Joseph T. Kelliher sold 5,741 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $207.26, for a total transaction of $1,189,879.66. Following the transaction, the executive vice president now directly owns 37,235 shares of the company’s stock, valued at $7,717,326.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John W. Ketchum sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $204.50, for a total transaction of $3,067,500.00. Following the transaction, the chief executive officer now directly owns 21,137 shares in the company, valued at $4,322,516.50. The disclosure for this sale can be found here. Insiders have sold 101,300 shares of company stock worth $20,217,711 over the last ninety days. 0.48% of the stock is currently owned by insiders.
Several research firms have recently weighed in on NEE. Barclays reissued a “buy” rating and issued a $218.00 target price on shares of NextEra Energy in a research report on Wednesday, June 19th. Bank of America lifted their target price on shares of NextEra Energy from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Scotiabank raised shares of NextEra Energy from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $187.00 to $202.00 in a research report on Wednesday, May 8th. Wells Fargo & Co lifted their target price on shares of NextEra Energy from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, KeyCorp began coverage on shares of NextEra Energy in a research report on Tuesday, June 4th. They issued an “overweight” rating and a $225.00 target price on the stock. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $210.50.
Shares of NextEra Energy stock traded down $0.92 during trading on Monday, hitting $215.56. The stock had a trading volume of 467,247 shares, compared to its average volume of 1,623,241. The stock’s 50 day simple moving average is $208.80. The stock has a market cap of $103.11 billion, a P/E ratio of 27.99, a PEG ratio of 3.21 and a beta of 0.22. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 0.88. NextEra Energy Inc has a 1 year low of $164.25 and a 1 year high of $217.18.
NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, July 24th. The utilities provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.07. NextEra Energy had a net margin of 18.73% and a return on equity of 10.46%. The business had revenue of $4.97 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period last year, the firm posted $2.08 earnings per share. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. On average, sell-side analysts predict that NextEra Energy Inc will post 8.36 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 29th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Wednesday, August 28th. NextEra Energy’s payout ratio is presently 64.94%.
NextEra Energy Company Profile
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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