Cullinan Associates Inc. decreased its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 58.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,200 shares of the utilities provider’s stock after selling 10,100 shares during the period. Cullinan Associates Inc.’s holdings in NextEra Energy were worth $1,009,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Dowling & Yahnke LLC grew its position in shares of NextEra Energy by 0.5% during the first quarter. Dowling & Yahnke LLC now owns 1,779 shares of the utilities provider’s stock valued at $228,000 after purchasing an additional 9 shares in the last quarter. Genesee Valley Trust Co. grew its position in shares of NextEra Energy by 0.3% during the first quarter. Genesee Valley Trust Co. now owns 3,133 shares of the utilities provider’s stock valued at $402,000 after purchasing an additional 10 shares in the last quarter. Day & Ennis LLC grew its position in shares of NextEra Energy by 0.6% during the first quarter. Day & Ennis LLC now owns 2,174 shares of the utilities provider’s stock valued at $279,000 after purchasing an additional 14 shares in the last quarter. Paragon Capital Management LLC grew its position in shares of NextEra Energy by 0.3% during the first quarter. Paragon Capital Management LLC now owns 5,349 shares of the utilities provider’s stock valued at $686,000 after purchasing an additional 15 shares in the last quarter. Finally, Leavell Investment Management Inc. grew its position in shares of NextEra Energy by 0.3% during the first quarter. Leavell Investment Management Inc. now owns 6,116 shares of the utilities provider’s stock valued at $785,000 after purchasing an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 75.67% of the company’s stock.
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Several research analysts recently commented on NEE shares. Goldman Sachs Group, Inc. (The) started coverage on NextEra Energy in a research report on Monday, July 24th. They issued a “buy” rating and a $160.00 price target for the company. BidaskClub upgraded NextEra Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $147.00 price target (up previously from $144.00) on shares of NextEra Energy in a research report on Sunday, July 9th. Morgan Stanley lifted their price target on NextEra Energy from $163.00 to $167.00 and gave the stock an “overweight” rating in a research report on Thursday, August 10th. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $158.00 price target (up previously from $150.00) on shares of NextEra Energy in a research report on Monday, June 19th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $151.15.
In other NextEra Energy news, Director James L. Robo sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $147.05, for a total transaction of $4,411,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.53% of the stock is owned by corporate insiders.
Shares of NextEra Energy, Inc. (NEE) traded down 1.79% during trading on Tuesday, reaching $148.69. 843,604 shares of the company were exchanged. The stock has a market capitalization of $69.77 billion, a P/E ratio of 17.03 and a beta of 0.33. The firm has a 50-day moving average price of $148.14 and a 200-day moving average price of $138.83. NextEra Energy, Inc. has a 1-year low of $110.49 and a 1-year high of $151.35.
NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.76 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.44 billion. NextEra Energy had a net margin of 24.26% and a return on equity of 11.88%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.67 EPS. Equities research analysts predict that NextEra Energy, Inc. will post $6.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.9825 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $3.93 dividend on an annualized basis and a yield of 2.60%. NextEra Energy’s dividend payout ratio (DPR) is presently 45.02%.
NextEra Energy Company Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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