Western Wealth Management LLC cut its holdings in NextEra Energy Inc (NYSE:NEE) by 10.9% during the second quarter, Holdings Channel reports. The institutional investor owned 3,597 shares of the utilities provider’s stock after selling 441 shares during the period. Western Wealth Management LLC’s holdings in NextEra Energy were worth $869,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC raised its stake in NextEra Energy by 0.7% in the first quarter. Geode Capital Management LLC now owns 7,240,887 shares of the utilities provider’s stock valued at $1,739,378,000 after buying an additional 51,825 shares in the last quarter. Norges Bank acquired a new stake in NextEra Energy in the fourth quarter valued at $1,651,472,000. Bank of New York Mellon Corp raised its stake in NextEra Energy by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 5,060,946 shares of the utilities provider’s stock valued at $1,217,763,000 after buying an additional 21,220 shares in the last quarter. Legal & General Group Plc raised its stake in NextEra Energy by 2.5% in the first quarter. Legal & General Group Plc now owns 4,013,188 shares of the utilities provider’s stock valued at $965,718,000 after buying an additional 96,864 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in NextEra Energy by 19.7% in the first quarter. Alliancebernstein L.P. now owns 2,724,655 shares of the utilities provider’s stock valued at $655,606,000 after buying an additional 448,004 shares in the last quarter. Institutional investors own 77.00% of the company’s stock.
In related news, Director Sherry S. Barrat sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $256.24, for a total transaction of $563,728.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ronald R. Reagan sold 367 shares of the firm’s stock in a transaction dated Friday, July 17th. The stock was sold at an average price of $272.51, for a total value of $100,011.17. Following the transaction, the executive vice president now directly owns 9,074 shares in the company, valued at approximately $2,472,755.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,924 shares of company stock worth $23,482,188. Corporate insiders own 0.40% of the company’s stock.
A number of analysts have weighed in on NEE shares. Morgan Stanley raised their price target on NextEra Energy from $240.00 to $246.00 and gave the company an “equal weight” rating in a research note on Friday. UBS Group cut their target price on NextEra Energy from $296.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Credit Suisse Group cut their target price on NextEra Energy from $256.00 to $252.00 and set a “neutral” rating on the stock in a research report on Friday, April 17th. Finally, Barclays cut their target price on NextEra Energy from $269.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $256.46.
NYSE NEE opened at $274.33 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.71 and a debt-to-equity ratio of 1.01. NextEra Energy Inc has a 52-week low of $174.80 and a 52-week high of $283.35. The business’s 50-day moving average price is $251.44 and its 200 day moving average price is $246.64. The firm has a market cap of $134.78 billion, a P/E ratio of 32.17, a P/E/G ratio of 3.85 and a beta of 0.21.
NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, April 22nd. The utilities provider reported $2.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.26 by $0.12. NextEra Energy had a return on equity of 10.38% and a net margin of 17.77%. The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.88 billion. During the same quarter last year, the company posted $2.20 earnings per share. The business’s revenue was up 13.2% on a year-over-year basis. As a group, analysts anticipate that NextEra Energy Inc will post 9.1 earnings per share for the current year.
NextEra Energy 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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