Shell Asset Management Co. Reduces Stock Holdings in NextEra Energy Inc (NYSE:NEE)

Shell Asset Management Co. lowered its position in NextEra Energy Inc (NYSE:NEE) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,993 shares of the utilities provider’s stock after selling 4,615 shares during the quarter. Shell Asset Management Co.’s holdings in NextEra Energy were worth $14,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of NextEra Energy by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 7,189,062 shares of the utilities provider’s stock valued at $1,737,438,000 after purchasing an additional 340,415 shares during the period. Norges Bank acquired a new position in NextEra Energy in the fourth quarter valued at about $1,651,472,000. Bank of New York Mellon Corp lifted its position in NextEra Energy by 0.4% in 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 buying an additional 21,220 shares during the last quarter. California Public Employees Retirement System lifted its position in NextEra Energy by 3.1% in 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 buying an additional 118,311 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its position in NextEra Energy by 4.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,382,791 shares of the utilities provider’s stock valued at $819,177,000 after buying an additional 148,764 shares during the last quarter. 77.30% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have commented on the stock. Zacks Investment Research cut shares of NextEra Energy from a “buy” rating to a “hold” rating and set a $282.00 target price on the stock. in a research report on Wednesday, January 29th. Morgan Stanley decreased their target price on shares of NextEra Energy from $246.00 to $237.00 and set an “equal weight” rating on the stock in a research report on Friday, May 15th. UBS Group decreased their target price on shares of NextEra Energy from $310.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Credit Suisse Group decreased their target price on shares of NextEra Energy from $256.00 to $252.00 and set a “neutral” rating on the stock in a research report on Friday, April 17th. Finally, BMO Capital Markets began coverage on shares of NextEra Energy in a research report on Wednesday, February 19th. They issued an “outperform” rating and a $290.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. NextEra Energy presently has a consensus rating of “Buy” and a consensus price target of $251.07.

In other NextEra Energy news, EVP Joseph T. Kelliher sold 14,330 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $248.15, for a total value of $3,555,989.50. Following the transaction, the executive vice president now directly owns 38,213 shares in the company, valued at $9,482,555.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James L. Robo sold 70,968 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $227.05, for a total transaction of $16,113,284.40. The disclosure for this sale can be found here. Insiders have sold 90,639 shares of company stock worth $20,863,319 over the last 90 days. Insiders own 0.40% of the company’s stock.

Shares of NEE stock traded up $2.13 during trading hours on Friday, reaching $231.03. 77,636 shares of the stock were exchanged, compared to its average volume of 2,508,130. The business’s fifty day moving average is $233.89 and its two-hundred day moving average is $242.10. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.71 and a quick ratio of 0.61. NextEra Energy Inc has a 12-month low of $174.80 and a 12-month high of $283.35. The firm has a market capitalization of $113.94 billion, a P/E ratio of 31.55, a P/E/G ratio of 3.33 and a beta of 0.20.

NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, April 22nd. The utilities provider reported $2.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.26 by $0.12. NextEra Energy had a net margin of 17.77% and a return on equity of 10.38%. 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 prior year, the firm earned $2.20 earnings per share. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. As a group, equities research analysts predict that NextEra Energy Inc will post 9.05 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Tuesday, June 2nd will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.42%. NextEra Energy’s payout ratio is 66.91%.

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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Institutional Ownership by Quarter for NextEra Energy (NYSE:NEE)

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