Legacy Wealth Asset Management LLC bought a new stake in shares of NextEra Energy, Inc. (NYSE:NEE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,731 shares of the utilities provider’s stock, valued at approximately $828,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of NEE. Wealth Alliance lifted its position in NextEra Energy by 3.5% in the third quarter. Wealth Alliance now owns 4,026 shares of the utilities provider’s stock valued at $1,117,000 after purchasing an additional 135 shares during the last quarter. First Commonwealth Financial Corp PA increased its stake in shares of NextEra Energy by 6.7% in the third quarter. First Commonwealth Financial Corp PA now owns 2,219 shares of the utilities provider’s stock worth $616,000 after buying an additional 140 shares during the period. Worldquant Millennium Advisors LLC raised its holdings in NextEra Energy by 9.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,770 shares of the utilities provider’s stock valued at $491,000 after buying an additional 147 shares during the last quarter. Carret Asset Management LLC boosted its position in NextEra Energy by 3.4% during the 3rd quarter. Carret Asset Management LLC now owns 4,543 shares of the utilities provider’s stock valued at $1,261,000 after buying an additional 151 shares during the period. Finally, Arlington Partners LLC grew its holdings in NextEra Energy by 97.0% in the 4th quarter. Arlington Partners LLC now owns 329 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 162 shares during the last quarter. Institutional investors and hedge funds own 19.20% of the company’s stock.
In related news, CEO Eric E. Silagy sold 4,764 shares of the stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $76.13, for a total transaction of $362,683.32. Following the sale, the chief executive officer now directly owns 176,548 shares of the company’s stock, valued at approximately $13,440,599.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO James Michael May sold 6,031 shares of the firm’s stock in a transaction dated Wednesday, March 17th. The shares were sold at an average price of $75.00, for a total transaction of $452,325.00. Following the sale, the chief accounting officer now owns 12,508 shares of the company’s stock, valued at $938,100. The disclosure for this sale can be found here. Insiders sold a total of 165,531 shares of company stock worth $12,575,235 in the last 90 days. 0.40% of the stock is currently owned by company insiders.
NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Monday, January 25th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $5.71 billion. NextEra Energy had a net margin of 21.44% and a return on equity of 10.79%. NextEra Energy’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. Equities analysts predict that NextEra Energy, Inc. will post 2.3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Friday, February 26th were given a $0.385 dividend. The ex-dividend date was Thursday, February 25th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.98%. NextEra Energy’s dividend payout ratio is currently 73.68%.
Several brokerages have recently commented on NEE. Credit Suisse Group raised shares of NextEra Energy from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $87.00 to $85.00 in a research note on Monday, March 15th. Wells Fargo & Company increased their price objective on NextEra Energy from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, January 27th. Morgan Stanley cut their price objective on NextEra Energy from $77.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 16th. Mizuho upped their target price on NextEra Energy from $64.00 to $90.00 and gave the company a “buy” rating in a report on Monday, January 11th. Finally, Bank of America reiterated a “buy” rating and issued a $81.00 price target on shares of NextEra Energy in a report on Friday, January 15th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $78.18.
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 fossil fuel, such as coal and natural gas facilities. It also develops, constructs, and operates long-term contracted assets with a focus on renewable generation facilities, electric transmission facilities, and battery storage projects; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.
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