Corebridge Financial Inc. Decreases Holdings in NextEra Energy, Inc. $NEE

Corebridge Financial Inc. trimmed its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 3.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 478,019 shares of the utilities provider’s stock after selling 17,548 shares during the period. Corebridge Financial Inc.’s holdings in NextEra Energy were worth $33,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Somerset Trust Co lifted its holdings in NextEra Energy by 5.2% during the 1st quarter. Somerset Trust Co now owns 89,709 shares of the utilities provider’s stock worth $6,359,000 after buying an additional 4,445 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in shares of NextEra Energy in the 1st quarter valued at about $783,000. Viking Fund Management LLC lifted its holdings in shares of NextEra Energy by 67.8% in the 1st quarter. Viking Fund Management LLC now owns 495,000 shares of the utilities provider’s stock valued at $35,091,000 after purchasing an additional 200,000 shares during the last quarter. Trust Co. of Vermont lifted its holdings in shares of NextEra Energy by 2.2% in the 1st quarter. Trust Co. of Vermont now owns 385,592 shares of the utilities provider’s stock valued at $27,335,000 after purchasing an additional 8,472 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of NextEra Energy by 20.7% in the 1st quarter. GAMMA Investing LLC now owns 34,681 shares of the utilities provider’s stock valued at $2,459,000 after purchasing an additional 5,949 shares during the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NEE has been the subject of several research reports. Erste Group Bank downgraded NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. UBS Group reduced their target price on NextEra Energy from $94.00 to $84.00 and set a “buy” rating for the company in a report on Friday, May 23rd. Morgan Stanley reduced their target price on NextEra Energy from $95.00 to $94.00 and set an “overweight” rating for the company in a report on Wednesday, June 18th. BMO Capital Markets boosted their target price on NextEra Energy from $77.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Finally, Melius Research raised NextEra Energy to a “strong-buy” rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.23.

NextEra Energy Stock Up 0.2%

NEE opened at $76.2270 on Monday. The business has a 50 day moving average price of $73.04 and a two-hundred day moving average price of $70.81. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.36. The company has a market cap of $156.97 billion, a PE ratio of 26.65, a P/E/G ratio of 2.63 and a beta of 0.63. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $86.10.

NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The company had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter in the previous year, the firm posted $0.96 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, research analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 28th will be given a dividend of $0.5665 per share. The ex-dividend date is Thursday, August 28th. This represents a $2.27 annualized dividend and a yield of 3.0%. NextEra Energy’s payout ratio is presently 79.37%.

Insider Activity at NextEra Energy

In related news, EVP Robert Coffey sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $71.84, for a total value of $538,800.00. Following the sale, the executive vice president owned 26,539 shares in the company, valued at $1,906,561.76. This represents a 22.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Treasurer James Michael May sold 2,177 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total value of $168,717.50. Following the completion of the sale, the treasurer owned 27,662 shares in the company, valued at approximately $2,143,805. This represents a 7.30% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

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,natural gas, and other clean energy. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.