TD Asset Management Inc Reduces Stock Position in NextEra Energy, Inc. $NEE

TD Asset Management Inc decreased its holdings in NextEra Energy, Inc. (NYSE:NEE) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 950,350 shares of the utilities provider’s stock after selling 37,092 shares during the period. TD Asset Management Inc’s holdings in NextEra Energy were worth $65,973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in NEE. GQG Partners LLC lifted its holdings in NextEra Energy by 58.4% during the 1st quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider’s stock valued at $1,221,896,000 after buying an additional 6,352,798 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of NextEra Energy by 20.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider’s stock worth $1,165,748,000 after acquiring an additional 2,815,629 shares during the period. Amundi raised its stake in shares of NextEra Energy by 27.8% during the first quarter. Amundi now owns 12,200,990 shares of the utilities provider’s stock valued at $878,447,000 after acquiring an additional 2,657,438 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of NextEra Energy by 1.0% in the first quarter. Vanguard Group Inc. now owns 207,322,418 shares of the utilities provider’s stock valued at $14,697,086,000 after purchasing an additional 2,025,193 shares during the period. Finally, Boston Partners boosted its holdings in shares of NextEra Energy by 55.3% in the first quarter. Boston Partners now owns 5,300,839 shares of the utilities provider’s stock valued at $374,639,000 after purchasing an additional 1,886,999 shares during the period. 78.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NEE. JPMorgan Chase & Co. raised their price objective on NextEra Energy from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, August 22nd. Jefferies Financial Group restated a “hold” rating and set a $85.00 price target (up previously from $77.00) on shares of NextEra Energy in a research note on Tuesday. Cowen began coverage on NextEra Energy in a report on Wednesday. They issued a “buy” rating for the company. Evercore ISI set a $92.00 target price on shares of NextEra Energy and gave the stock an “outperform” rating in a report on Monday, October 6th. Finally, Barclays raised their target price on shares of NextEra Energy from $65.00 to $67.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.57.

NextEra Energy Price Performance

NEE opened at $85.73 on Thursday. The firm has a market capitalization of $176.53 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 2.86 and a beta of 0.66. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.54 and a quick ratio of 0.45. The business’s 50-day moving average is $75.05 and its two-hundred day moving average is $72.03. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $86.49.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business earned $0.96 EPS. Research analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 28th were given a dividend of $0.5665 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.6%. NextEra Energy’s dividend payout ratio is presently 79.37%.

Insider Activity

In related news, EVP Michael Dunne sold 10,000 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $70.79, for a total transaction of $707,900.00. Following the transaction, the executive vice president directly owned 62,064 shares of the company’s stock, valued at $4,393,510.56. This represents a 13.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Charles E. Sieving sold 11,336 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $80.00, for a total value of $906,880.00. Following the completion of the sale, the executive vice president directly owned 167,481 shares of the company’s stock, valued at approximately $13,398,480. This represents a 6.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,705 shares of company stock worth $2,446,490. Company insiders own 0.20% of the company’s stock.

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,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.