Cidel Asset Management Inc. Decreases Stake in NextEra Energy, Inc. $NEE

Cidel Asset Management Inc. lessened its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 9.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,861 shares of the utilities provider’s stock after selling 2,963 shares during the quarter. Cidel Asset Management Inc.’s holdings in NextEra Energy were worth $2,073,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in NextEra Energy by 7.0% during the 4th quarter. Brighton Jones LLC now owns 28,282 shares of the utilities provider’s stock valued at $2,028,000 after acquiring an additional 1,840 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of NextEra Energy by 6.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,854 shares of the utilities provider’s stock worth $348,000 after purchasing an additional 298 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of NextEra Energy by 20.7% during the 1st quarter. GAMMA Investing LLC now owns 34,681 shares of the utilities provider’s stock worth $2,459,000 after purchasing an additional 5,949 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of NextEra Energy by 5.5% in the first quarter. Exchange Traded Concepts LLC now owns 4,390 shares of the utilities provider’s stock valued at $311,000 after purchasing an additional 228 shares in the last quarter. Finally, Boston Trust Walden Corp increased its holdings in shares of NextEra Energy by 1.6% in the first quarter. Boston Trust Walden Corp now owns 32,004 shares of the utilities provider’s stock valued at $2,269,000 after purchasing an additional 500 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NextEra Energy

In related news, 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 transaction of $906,880.00. Following the completion of the transaction, the executive vice president directly owned 167,481 shares in the company, valued at $13,398,480. This trade represents a 6.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Treasurer James Michael May sold 2,177 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total transaction of $168,717.50. Following the sale, the treasurer owned 27,662 shares in the company, valued at $2,143,805. This trade represents a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,705 shares of company stock valued at $2,446,490. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

NEE has been the topic of a number of recent research reports. Jefferies Financial Group reissued a “hold” rating and set a $85.00 price objective (up previously from $77.00) on shares of NextEra Energy in a research note on Tuesday. New Street Research set a $84.00 price target on NextEra Energy in a report on Monday, October 13th. TD Cowen assumed coverage on shares of NextEra Energy in a report on Thursday. They issued a “buy” rating and a $98.00 price objective for the company. Melius started coverage on shares of NextEra Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $77.00 price objective for the company. Finally, Evercore ISI set a $92.00 target price on shares of NextEra Energy and gave the company an “outperform” rating in a report on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, NextEra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $86.40.

NextEra Energy Stock Performance

NYSE NEE opened at $84.48 on Friday. The stock has a fifty day simple moving average of $75.54 and a 200-day simple moving average of $72.24. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. The stock has a market cap of $173.97 billion, a PE ratio of 29.54, a P/E/G ratio of 2.85 and a beta of 0.66. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month high of $86.74.

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

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 28th were paid a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, August 28th. NextEra Energy’s dividend payout ratio is 79.37%.

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.