Griffin Asset Management Inc. trimmed its holdings in NextEra Energy Inc (NYSE:NEE) by 98.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,123 shares of the utilities provider’s stock after selling 89,912 shares during the period. Griffin Asset Management Inc.’s holdings in NextEra Energy were worth $262,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Krane Funds Advisors LLC acquired a new stake in shares of NextEra Energy in the second quarter valued at approximately $25,000. TRUE Private Wealth Advisors acquired a new stake in shares of NextEra Energy in the second quarter valued at approximately $25,000. Manchester Financial Inc. acquired a new stake in shares of NextEra Energy in the second quarter valued at approximately $26,000. First PREMIER Bank acquired a new stake in shares of NextEra Energy in the third quarter valued at approximately $33,000. Finally, Vista Private Wealth Partners. LLC acquired a new stake in shares of NextEra Energy in the third quarter valued at approximately $36,000. 74.70% of the stock is owned by institutional investors.
In other NextEra Energy news, CEO James L. Robo sold 44,537 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $216.85, for a total transaction of $9,657,848.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Treasurer Paul I. Cutler sold 23,750 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $223.59, for a total value of $5,310,262.50. Following the transaction, the treasurer now owns 93,462 shares in the company, valued at approximately $20,897,168.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,576 shares of company stock worth $21,514,886. 0.48% of the stock is owned by corporate insiders.
NextEra Energy (NYSE:NEE) last announced its earnings results on Tuesday, October 22nd. The utilities provider reported $2.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.27 by $0.12. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.14 billion. NextEra Energy had a return on equity of 10.59% and a net margin of 16.92%. The firm’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.18 earnings per share. Research analysts predict that NextEra Energy Inc will post 8.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $1.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.24%. NextEra Energy’s dividend payout ratio (DPR) is currently 64.94%.
A number of analysts have recently issued reports on the company. Credit Suisse Group raised their price objective on NextEra Energy from $231.00 to $232.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. UBS Group raised their price objective on NextEra Energy from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Morgan Stanley raised their price objective on NextEra Energy from $241.00 to $242.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Co increased their target price on NextEra Energy from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their target price on NextEra Energy from $214.00 to $252.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $231.67.
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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