GAM Holding AG lowered its position in shares of NextEra Energy Inc (NYSE:NEE) by 14.4% during the first quarter, HoldingsChannel.com reports. The firm owned 6,231 shares of the utilities provider’s stock after selling 1,049 shares during the quarter. GAM Holding AG’s holdings in NextEra Energy were worth $1,205,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massey Quick Simon & CO. LLC acquired a new stake in shares of NextEra Energy in the first quarter valued at approximately $39,000. RPG Investment Advisory LLC bought a new position in NextEra Energy during the 1st quarter worth $42,000. Acima Private Wealth LLC bought a new position in NextEra Energy during the 4th quarter worth $39,000. Westside Investment Management Inc. increased its stake in NextEra Energy by 62.9% during the 4th quarter. Westside Investment Management Inc. now owns 259 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 100 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in NextEra Energy during the 4th quarter worth $46,000. Institutional investors own 75.90% of the company’s stock.
A number of equities analysts have commented on the company. UBS Group raised their price objective on NextEra Energy from $225.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. KeyCorp assumed coverage on NextEra Energy in a research note on Tuesday, June 4th. They set an “overweight” rating and a $225.00 price objective on the stock. Morgan Stanley lifted their price target on NextEra Energy from $193.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Zacks Investment Research lowered NextEra Energy from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Finally, Credit Suisse Group set a $199.00 price target on NextEra Energy and gave the company a “buy” rating in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $203.46.
NextEra Energy (NYSE:NEE) last announced its earnings results on Tuesday, April 23rd. The utilities provider reported $2.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.19. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.11 billion. NextEra Energy had a return on equity of 10.26% and a net margin of 17.13%. During the same period in the previous year, the business earned $1.94 EPS. On average, equities research analysts forecast that NextEra Energy Inc will post 8.35 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.48%. The ex-dividend date is Friday, May 31st. NextEra Energy’s payout ratio is presently 64.94%.
In other NextEra Energy news, Director James L. Robo sold 111,864 shares of NextEra Energy stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $191.27, for a total transaction of $21,396,227.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Rudy E. Schupp sold 1,600 shares of NextEra Energy stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $191.52, for a total value of $306,432.00. Following the transaction, the director now directly owns 19,210 shares in the company, valued at $3,679,099.20. The disclosure for this sale can be found here. Insiders have sold a total of 198,339 shares of company stock worth $38,475,406 over the last ninety days. Company insiders own 0.48% of the company’s stock.
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About NextEra Energy
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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