InterOcean Capital LLC trimmed its stake in shares of NextEra Energy Inc (NYSE:NEE) by 27.5% during the first quarter, Holdings Channel reports. The firm owned 1,094 shares of the utilities provider’s stock after selling 416 shares during the period. InterOcean Capital LLC’s holdings in NextEra Energy were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in NEE. Geode Capital Management LLC grew its stake in NextEra Energy by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 7,189,062 shares of the utilities provider’s stock worth $1,737,438,000 after buying an additional 340,415 shares during the last quarter. Norges Bank bought a new stake in NextEra Energy in the fourth quarter valued at $1,651,472,000. Bank of New York Mellon Corp boosted its holdings in shares of NextEra Energy by 0.4% during 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 acquiring an additional 21,220 shares during the period. California Public Employees Retirement System boosted its holdings in shares of NextEra Energy by 3.1% during the fourth quarter. California Public Employees Retirement System now owns 3,875,451 shares of the utilities provider’s stock valued at $938,479,000 after acquiring an additional 118,311 shares during the period. Finally, UBS Asset Management Americas Inc. grew its position in shares of NextEra Energy by 4.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 3,382,791 shares of the utilities provider’s stock worth $819,177,000 after acquiring an additional 148,764 shares during the last quarter. 77.30% of the stock is currently owned by institutional investors and hedge funds.
NEE has been the subject of several recent analyst reports. Zacks Investment Research cut shares of NextEra Energy from a “buy” rating to a “hold” rating and set a $282.00 target price for the company. in a research report on Wednesday, January 29th. Vertical Research assumed coverage on NextEra Energy in a report on Monday, February 24th. They issued a “sell” rating for the company. Barclays lowered 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. UBS Group cut their target price on NextEra Energy from $310.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Finally, BMO Capital Markets initiated coverage on NextEra Energy in a research note on Wednesday, February 19th. They issued an “outperform” rating and a $290.00 price target for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. NextEra Energy currently has a consensus rating of “Buy” and a consensus target price of $251.07.
In other news, Director Rudy E. Schupp sold 1,600 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $220.20, for a total transaction of $352,320.00. Following the sale, the director now directly owns 14,746 shares of the company’s stock, valued at $3,247,069.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James L. Robo sold 70,968 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $227.05, for a total value of $16,113,284.40. The disclosure for this sale can be found here. Insiders sold a total of 90,639 shares of company stock worth $20,863,319 over the last quarter. Insiders own 0.40% of the company’s stock.
Shares of NEE traded up $4.95 during midday trading on Friday, reaching $233.85. The stock had a trading volume of 1,488,731 shares, compared to its average volume of 2,494,978. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.71 and a quick ratio of 0.61. The company has a market capitalization of $112.04 billion, a P/E ratio of 32.39, a P/E/G ratio of 3.27 and a beta of 0.20. The firm’s 50 day moving average price is $233.66 and its 200-day moving average price is $242.06. NextEra Energy Inc has a 52 week low of $174.80 and a 52 week high of $283.35.
NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, April 22nd. The utilities provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the company earned $2.20 earnings per share. NextEra Energy’s revenue was up 13.2% compared to the same quarter last year. On average, equities analysts forecast that NextEra Energy Inc will post 9.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd will be paid a $1.40 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $5.60 annualized dividend and a dividend yield of 2.39%. NextEra Energy’s dividend payout ratio is currently 66.91%.
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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