Community Bank N.A. trimmed its holdings in shares of NextEra Energy Inc (NYSE:NEE) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,466 shares of the utilities provider’s stock after selling 44 shares during the quarter. Community Bank N.A.’s holdings in NextEra Energy were worth $3,234,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of NEE. Bessemer Group Inc. grew its position in NextEra Energy by 10,443.2% in the 1st quarter. Bessemer Group Inc. now owns 644,191 shares of the utilities provider’s stock valued at $155,005,000 after acquiring an additional 638,081 shares in the last quarter. APG Asset Management N.V. grew its position in NextEra Energy by 24.6% in the 1st quarter. APG Asset Management N.V. now owns 2,590,238 shares of the utilities provider’s stock valued at $623,263,000 after acquiring an additional 512,077 shares in the last quarter. Alliancebernstein L.P. grew its position in NextEra Energy by 19.7% in the 1st quarter. Alliancebernstein L.P. now owns 2,724,655 shares of the utilities provider’s stock valued at $655,606,000 after acquiring an additional 448,004 shares in the last quarter. Cullen Capital Management LLC grew its position in NextEra Energy by 140.1% in the 1st quarter. Cullen Capital Management LLC now owns 751,239 shares of the utilities provider’s stock valued at $180,763,000 after acquiring an additional 438,369 shares in the last quarter. Finally, Swiss National Bank grew its position in NextEra Energy by 23.3% in the 1st quarter. Swiss National Bank now owns 2,295,283 shares of the utilities provider’s stock valued at $552,291,000 after acquiring an additional 434,000 shares in the last quarter. 77.00% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on NEE. 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 research report on Monday, June 22nd. 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 research report on Monday, July 27th. Morgan Stanley lifted their price objective on NextEra Energy from $240.00 to $246.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Finally, Credit Suisse Group lifted their price objective on NextEra Energy from $252.00 to $265.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $258.00.
NextEra Energy (NYSE:NEE) last posted its earnings results on Friday, July 24th. The utilities provider reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.11. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $5.32 billion. NextEra Energy had a return on equity of 10.55% and a net margin of 18.71%. The firm’s revenue was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.35 earnings per share. On average, equities research analysts anticipate that NextEra Energy Inc will post 9.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 is currently 66.91%.
In other NextEra Energy news, EVP Ronald R. Reagan sold 176 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $285.00, for a total value of $50,160.00. Following the completion of the sale, the executive vice president now owns 8,538 shares in the company, valued at $2,433,330. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Treasurer Paul I. Cutler sold 8,772 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $285.00, for a total value of $2,500,020.00. Following the completion of the sale, the treasurer now owns 86,839 shares of the company’s stock, valued at approximately $24,749,115. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,082 shares of company stock valued at $9,968,924. 0.40% of the stock is owned by company insiders.
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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