Raab & Moskowitz Asset Management LLC cut its stake in NextEra Energy Inc (NYSE:NEE) by 7.0% during the 4th quarter, HoldingsChannel reports. The fund owned 4,701 shares of the utilities provider’s stock after selling 356 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in NextEra Energy were worth $734,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Taylor Hoffman Wealth Management acquired a new stake in NextEra Energy in the fourth quarter valued at $106,000. D Orazio & Associates Inc. acquired a new stake in shares of NextEra Energy during the fourth quarter worth $113,000. Risk Paradigm Group LLC raised its holdings in shares of NextEra Energy by 108.1% during the third quarter. Risk Paradigm Group LLC now owns 851 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 442 shares during the period. Archford Capital Strategies LLC raised its holdings in shares of NextEra Energy by 76.9% during the second quarter. Archford Capital Strategies LLC now owns 10,000 shares of the utilities provider’s stock worth $128,000 after purchasing an additional 4,347 shares during the period. Finally, Cerebellum GP LLC acquired a new stake in shares of NextEra Energy during the fourth quarter worth $128,000. 75.50% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Charles E. Sieving sold 2,844 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $154.67, for a total value of $439,881.48. Following the completion of the transaction, the executive vice president now owns 48,966 shares in the company, valued at approximately $7,573,571.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Armando Pimentel, Jr. sold 42,372 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $157.45, for a total transaction of $6,671,471.40. Following the completion of the transaction, the chief executive officer now owns 121,958 shares of the company’s stock, valued at approximately $19,202,287.10. The disclosure for this sale can be found here. Insiders have sold 54,466 shares of company stock valued at $8,515,780 in the last 90 days. Insiders own 0.53% of the company’s stock.
NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Friday, January 26th. The utilities provider reported $1.25 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.06). The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.18 billion. NextEra Energy had a return on equity of 11.50% and a net margin of 31.28%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.21 EPS. research analysts expect that NextEra Energy Inc will post 7.73 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $4.44 annualized dividend and a dividend yield of 2.84%. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.98. NextEra Energy’s dividend payout ratio is currently 34.50%.
A number of analysts have weighed in on NEE shares. Royal Bank of Canada reissued a “buy” rating and set a $156.00 target price on shares of NextEra Energy in a report on Tuesday, November 7th. Argus reissued a “buy” rating and set a $173.00 target price on shares of NextEra Energy in a report on Tuesday, December 5th. They noted that the move was a valuation call. Credit Suisse Group started coverage on shares of NextEra Energy in a report on Thursday, December 7th. They set an “outperform” rating and a $173.00 target price on the stock. Zacks Investment Research raised shares of NextEra Energy from a “hold” rating to a “buy” rating and set a $178.00 target price on the stock in a report on Tuesday, December 12th. Finally, Morgan Stanley increased their target price on shares of NextEra Energy from $173.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $161.56.
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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