AXS Investments LLC reduced its holdings in NextEra Energy, Inc. (NYSE:NEE – Free Report) by 35.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 845 shares of the utilities provider’s stock after selling 461 shares during the quarter. AXS Investments LLC’s holdings in NextEra Energy were worth $63,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of NEE. Sageworth Trust Co raised its holdings in shares of NextEra Energy by 1,794.1% in the first quarter. Sageworth Trust Co now owns 322 shares of the utilities provider’s stock valued at $25,000 after buying an additional 305 shares during the last quarter. Alaska Permanent Fund Corp acquired a new stake in NextEra Energy in the 2nd quarter valued at about $26,000. Magellan Asset Management Ltd bought a new position in shares of NextEra Energy in the first quarter worth about $32,000. Tower View Wealth Management LLC acquired a new position in shares of NextEra Energy during the second quarter worth approximately $35,000. Finally, Mizuho Securities Co. Ltd. grew its stake in shares of NextEra Energy by 444.4% during the second quarter. Mizuho Securities Co. Ltd. now owns 490 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 400 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Bank of America dropped their price objective on shares of NextEra Energy from $76.00 to $53.00 in a research report on Wednesday, October 4th. Morgan Stanley dropped their target price on NextEra Energy from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. The Goldman Sachs Group decreased their price target on NextEra Energy from $83.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, October 2nd. Wells Fargo & Company dropped their price objective on NextEra Energy from $105.00 to $84.00 in a report on Monday, October 2nd. Finally, Guggenheim reduced their target price on shares of NextEra Energy from $73.00 to $65.00 in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, NextEra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $74.31.
NextEra Energy Price Performance
NEE opened at $57.37 on Monday. The stock has a market cap of $117.71 billion, a P/E ratio of 15.18, a P/E/G ratio of 2.23 and a beta of 0.54. NextEra Energy, Inc. has a 12 month low of $47.15 and a 12 month high of $88.61. The company has a quick ratio of 0.43, a current ratio of 0.50 and a debt-to-equity ratio of 1.05. The company has a fifty day simple moving average of $58.16 and a 200 day simple moving average of $67.32.
NextEra Energy (NYSE:NEE – Get Free Report) last announced its quarterly earnings results on Tuesday, October 24th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.08. NextEra Energy had a return on equity of 12.15% and a net margin of 27.82%. The company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the company earned $0.85 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, research analysts expect that NextEra Energy, Inc. will post 3.12 EPS for the current year.
NextEra Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be paid a $0.4675 dividend. This represents a $1.87 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, November 22nd. NextEra Energy’s payout ratio is currently 49.47%.
In related news, major shareholder Nextera Energy Inc acquired 3,097,524 shares of the company’s stock in a transaction that occurred on Friday, October 6th. The shares were acquired at an average cost of $24.21 per share, for a total transaction of $74,991,056.04. Following the completion of the acquisition, the insider now directly owns 4,097,524 shares in the company, valued at approximately $99,201,056.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company’s stock.
NextEra Energy Company 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, coal, and natural gas facilities. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.
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