Park Avenue Securities LLC lifted its holdings in NextEra Energy, Inc. (NYSE:NEE) by 8.7% in the first quarter, Holdings Channel reports. The firm owned 61,841 shares of the utilities provider’s stock after buying an additional 4,939 shares during the period. Park Avenue Securities LLC’s holdings in NextEra Energy were worth $4,676,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Parsec Financial Management Inc. raised its stake in NextEra Energy by 297.6% in the 4th quarter. Parsec Financial Management Inc. now owns 34,358 shares of the utilities provider’s stock worth $2,651,000 after acquiring an additional 25,716 shares during the last quarter. Glenview Trust Co raised its stake in shares of NextEra Energy by 299.0% during the 4th quarter. Glenview Trust Co now owns 40,023 shares of the utilities provider’s stock valued at $3,087,000 after buying an additional 29,991 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of NextEra Energy by 388.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 29,675 shares of the utilities provider’s stock valued at $2,289,000 after buying an additional 23,603 shares during the last quarter. CENTRAL TRUST Co raised its stake in shares of NextEra Energy by 296.1% during the 4th quarter. CENTRAL TRUST Co now owns 227,754 shares of the utilities provider’s stock valued at $17,571,000 after buying an additional 170,258 shares during the last quarter. Finally, Meitav Dash Investments Ltd. increased its stake in shares of NextEra Energy by 298.5% in the 4th quarter. Meitav Dash Investments Ltd. now owns 449,847 shares of the utilities provider’s stock valued at $34,704,000 after purchasing an additional 336,954 shares in the last quarter. Institutional investors own 19.20% of the company’s stock.
Shares of NEE stock traded down $0.70 during trading on Tuesday, hitting $76.00. 49,340 shares of the stock traded hands, compared to its average volume of 8,816,527. The firm has a market capitalization of $149.07 billion, a P/E ratio of 38.64, a price-to-earnings-growth ratio of 4.07 and a beta of 0.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.57 and a quick ratio of 0.48. The firm’s fifty day moving average price is $76.41 and its 200-day moving average price is $78.07. NextEra Energy, Inc. has a 52-week low of $55.65 and a 52-week high of $87.69.
NextEra Energy (NYSE:NEE) last announced its earnings results on Tuesday, April 20th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.08. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $5.01 billion. NextEra Energy had a return on equity of 10.79% and a net margin of 21.44%. The firm’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.59 earnings per share. As a group, equities research analysts expect that NextEra Energy, Inc. will post 2.3 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Friday, February 26th were given a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Thursday, February 25th. NextEra Energy’s payout ratio is 73.68%.
In related news, CEO James L. Robo sold 118,000 shares of the business’s stock in a transaction on Tuesday, March 2nd. The shares were sold at an average price of $76.02, for a total transaction of $8,970,360.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric E. Silagy sold 28,564 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $75.63, for a total transaction of $2,160,295.32. Following the transaction, the chief executive officer now owns 182,607 shares of the company’s stock, valued at approximately $13,810,567.41. The disclosure for this sale can be found here. Insiders have sold 192,680 shares of company stock worth $14,718,893 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.
NEE has been the subject of several recent analyst reports. Barclays lifted their price target on NextEra Energy from $78.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday, April 19th. Mizuho lifted their price target on NextEra Energy from $64.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, January 11th. Morgan Stanley lifted their price target on NextEra Energy from $66.00 to $72.00 and gave the company an “equal weight” rating in a research note on Monday, April 26th. Credit Suisse Group upgraded NextEra Energy from a “neutral” rating to an “outperform” rating and lowered their price objective for the stock from $87.00 to $85.00 in a report on Monday, March 15th. Finally, Bank of America reiterated a “buy” rating and issued a $81.00 price objective on shares of NextEra Energy in a report on Friday, January 15th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $78.83.
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 fossil fuel, such as coal and natural gas facilities. It also develops, constructs, and operates long-term contracted assets with a focus on renewable generation facilities, electric transmission facilities, and battery storage projects; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.
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