Convergence Investment Partners LLC Has $1.14 Million Stock Holdings in NextEra Energy Inc (NYSE:NEE)

Convergence Investment Partners LLC raised its holdings in shares of NextEra Energy Inc (NYSE:NEE) by 18.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,729 shares of the utilities provider’s stock after purchasing an additional 733 shares during the quarter. Convergence Investment Partners LLC’s holdings in NextEra Energy were worth $1,136,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Ocean Capital Management LLC lifted its holdings in NextEra Energy by 9.4% during the 2nd quarter. Ocean Capital Management LLC now owns 2,984 shares of the utilities provider’s stock valued at $717,000 after purchasing an additional 257 shares during the last quarter. StrongBox Wealth LLC lifted its holdings in NextEra Energy by 61.7% during the 2nd quarter. StrongBox Wealth LLC now owns 5,470 shares of the utilities provider’s stock valued at $1,314,000 after purchasing an additional 2,087 shares during the last quarter. HCR Wealth Advisors lifted its holdings in NextEra Energy by 2.5% during the 2nd quarter. HCR Wealth Advisors now owns 17,024 shares of the utilities provider’s stock valued at $4,191,000 after purchasing an additional 412 shares during the last quarter. EFG Asset Management Americas Corp. lifted its holdings in NextEra Energy by 33.1% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 25,544 shares of the utilities provider’s stock valued at $6,134,000 after purchasing an additional 6,348 shares during the last quarter. Finally, Lehman & Derafelo Financial Resources LLC lifted its holdings in NextEra Energy by 2.3% during the 2nd quarter. Lehman & Derafelo Financial Resources LLC now owns 286,230 shares of the utilities provider’s stock valued at $68,744,000 after purchasing an additional 6,465 shares during the last quarter. 77.00% of the stock is owned by institutional investors and hedge funds.

In other NextEra Energy news, Treasurer Paul I. Cutler sold 8,772 shares of NextEra Energy stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $285.00, for a total value of $2,500,020.00. Following the transaction, the treasurer now owns 86,839 shares in the company, valued at $24,749,115. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ronald R. Reagan sold 176 shares of NextEra Energy stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $285.00, for a total value of $50,160.00. Following the completion of the transaction, the executive vice president now owns 8,538 shares in the company, valued at approximately $2,433,330. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,082 shares of company stock worth $9,968,924. Company insiders own 0.40% of the company’s stock.

NEE stock traded down $1.64 during midday trading on Friday, reaching $280.70. The company had a trading volume of 2,007,601 shares, compared to its average volume of 1,890,628. The company has a market capitalization of $138.25 billion, a price-to-earnings ratio of 38.72, a price-to-earnings-growth ratio of 3.88 and a beta of 0.21. The stock has a 50 day moving average price of $256.40 and a 200-day moving average price of $248.73. NextEra Energy Inc has a 1-year low of $174.80 and a 1-year high of $285.63. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.61 and a quick ratio of 0.50.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Friday, July 24th. The utilities provider reported $2.61 EPS for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.11. The business had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $5.32 billion. NextEra Energy had a return on equity of 10.55% and a net margin of 18.71%. NextEra Energy’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.35 earnings per share. As a group, research analysts anticipate that NextEra Energy Inc will post 9.12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 28th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Thursday, August 27th. NextEra Energy’s dividend payout ratio (DPR) is presently 66.91%.

Several equities research analysts have issued reports on NEE shares. Morgan Stanley raised their price target on NextEra Energy from $240.00 to $246.00 and gave the company an “equal weight” rating in a report on Friday, July 17th. Vertical Research raised NextEra Energy from a “sell” rating to a “hold” rating and set a $265.00 target price for the company in a report on Monday, July 27th. Credit Suisse Group lifted their target price on NextEra Energy from $252.00 to $265.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Finally, UBS Group dropped their target price on NextEra Energy from $296.00 to $290.00 and set a “buy” rating for the company in a report on Monday, June 22nd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $258.00.

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.

Read More: Understanding Price to Earnings Ratio (PE)

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

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