L & S Advisors Inc trimmed its holdings in shares of NextEra Energy Inc (NYSE:NEE) by 26.0% in the second quarter, HoldingsChannel.com reports. The fund owned 29,016 shares of the utilities provider’s stock after selling 10,200 shares during the period. NextEra Energy makes up 0.8% of L & S Advisors Inc’s investment portfolio, making the stock its 27th largest position. L & S Advisors Inc’s holdings in NextEra Energy were worth $5,944,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Railway Pension Investments Ltd purchased a new stake in NextEra Energy in the second quarter worth $13,001,000. California Public Employees Retirement System increased its position in NextEra Energy by 20.1% in the first quarter. California Public Employees Retirement System now owns 2,886,266 shares of the utilities provider’s stock worth $557,973,000 after buying an additional 483,263 shares during the last quarter. Thoroughbred Financial Services LLC increased its position in NextEra Energy by 20,386.0% in the second quarter. Thoroughbred Financial Services LLC now owns 435,942 shares of the utilities provider’s stock worth $43,594,000 after buying an additional 433,814 shares during the last quarter. Bahl & Gaynor Inc. increased its position in NextEra Energy by 21.6% in the second quarter. Bahl & Gaynor Inc. now owns 2,412,212 shares of the utilities provider’s stock worth $494,166,000 after buying an additional 427,760 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its position in NextEra Energy by 23.6% in the first quarter. Pictet Asset Management Ltd. now owns 2,021,758 shares of the utilities provider’s stock worth $390,846,000 after buying an additional 385,763 shares during the last quarter. 76.11% of the stock is owned by institutional investors.
A number of research firms have issued reports on NEE. KeyCorp began coverage on NextEra Energy in a research report on Tuesday, June 4th. They issued an “overweight” rating and a $225.00 target price for the company. Barclays downgraded NextEra Energy from an “overweight” rating to an “equal weight” rating and set a $218.00 target price for the company. in a research report on Tuesday, August 13th. UBS Group raised their target price on NextEra Energy from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Guggenheim raised their target price on NextEra Energy from $205.00 to $223.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Bank of America raised their target price on NextEra Energy from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $217.77.
In related news, EVP Joseph T. Kelliher sold 3,279 shares of NextEra Energy stock in a transaction on Monday, September 9th. The stock was sold at an average price of $219.20, for a total transaction of $718,756.80. Following the completion of the sale, the executive vice president now owns 28,215 shares of the company’s stock, valued at $6,184,728. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles E. Sieving sold 4,987 shares of NextEra Energy stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $222.52, for a total value of $1,109,707.24. Following the sale, the executive vice president now directly owns 46,467 shares of the company’s stock, valued at approximately $10,339,836.84. The disclosure for this sale can be found here. Insiders sold 98,894 shares of company stock valued at $21,378,595 over the last ninety days. Corporate insiders own 0.48% of the company’s stock.
NextEra Energy stock opened at $219.91 on Friday. NextEra Energy Inc has a one year low of $164.25 and a one year high of $225.96. The business has a fifty day moving average price of $216.51 and a 200-day moving average price of $202.03. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.52 and a quick ratio of 0.42. The firm has a market capitalization of $105.76 billion, a P/E ratio of 28.56, a PEG ratio of 3.25 and a beta of 0.19.
NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $2.35 EPS for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.07. NextEra Energy had a return on equity of 10.46% and a net margin of 18.73%. The firm had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same period last year, the company earned $2.08 earnings per share. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. Sell-side analysts expect that NextEra Energy Inc will post 8.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 29th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Wednesday, August 28th. NextEra Energy’s payout ratio is currently 64.94%.
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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