NuWave Investment Management LLC decreased its holdings in shares of NextEra Energy Inc (NYSE:NEE) by 88.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 255 shares of the utilities provider’s stock after selling 1,992 shares during the period. NuWave Investment Management LLC’s holdings in NextEra Energy were worth $49,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Acima Private Wealth LLC acquired a new position in shares of NextEra Energy during the fourth quarter valued at $39,000. Westside Investment Management Inc. boosted its holdings in shares of NextEra Energy by 62.9% during the fourth quarter. Westside Investment Management Inc. now owns 259 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 100 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of NextEra Energy during the fourth quarter valued at $46,000. PRW Wealth Management LLC acquired a new position in shares of NextEra Energy during the fourth quarter valued at $49,000. Finally, Liberty Wealth Management LLC acquired a new position in shares of NextEra Energy during the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 77.27% of the company’s stock.
Several brokerages have recently issued reports on NEE. Goldman Sachs Group downgraded shares of NextEra Energy from a “conviction-buy” rating to a “buy” rating and set a $194.00 price target for the company. in a report on Monday, April 8th. Zacks Investment Research raised shares of NextEra Energy from a “hold” rating to a “buy” rating and set a $214.00 price target for the company in a report on Friday, March 15th. Guggenheim reissued a “buy” rating and set a $205.00 price target on shares of NextEra Energy in a report on Monday, January 7th. Barclays raised shares of NextEra Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $187.00 to $207.00 in a report on Wednesday, March 20th. They noted that the move was a valuation call. Finally, Morgan Stanley boosted their price target on shares of NextEra Energy from $184.00 to $188.00 and gave the company an “overweight” rating in a report on Tuesday, February 12th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $183.08.
In related news, Director Rudy E. Schupp sold 1,600 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $191.52, for a total value of $306,432.00. Following the completion of the sale, the director now owns 19,210 shares of the company’s stock, valued at $3,679,099.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James L. Robo sold 111,864 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $191.27, for a total transaction of $21,396,227.28. The disclosure for this sale can be found here. Insiders sold 173,773 shares of company stock valued at $33,097,211 in the last ninety days. Corporate insiders own 0.55% of the company’s stock.
NEE stock opened at $190.85 on Friday. The stock has a market capitalization of $91.01 billion, a P/E ratio of 24.79, a P/E/G ratio of 2.92 and a beta of 0.29. NextEra Energy Inc has a fifty-two week low of $155.06 and a fifty-two week high of $195.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.29.
NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Friday, January 25th. The utilities provider reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.51 by ($0.02). The company had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.84 billion. NextEra Energy had a return on equity of 10.01% and a net margin of 39.74%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 EPS. On average, analysts anticipate that NextEra Energy Inc will post 8.4 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 28th were issued a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $5.00 annualized dividend and a yield of 2.62%. This is an increase from NextEra Energy’s previous quarterly dividend of $1.11. NextEra Energy’s dividend payout ratio is presently 64.94%.
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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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