Inverness Counsel LLC NY reduced its stake in NextEra Energy, Inc. (NYSE:NEE) by 36.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,075 shares of the utilities provider’s stock after selling 224,358 shares during the period. Inverness Counsel LLC NY’s holdings in NextEra Energy were worth $29,024,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Financial Management Professionals Inc. raised its stake in NextEra Energy by 8.6% during the second quarter. Financial Management Professionals Inc. now owns 1,609 shares of the utilities provider’s stock worth $118,000 after purchasing an additional 128 shares during the period. ICW Investment Advisors LLC raised its stake in NextEra Energy by 0.8% during the second quarter. ICW Investment Advisors LLC now owns 15,735 shares of the utilities provider’s stock worth $1,153,000 after purchasing an additional 128 shares during the period. Brown Advisory Securities LLC raised its stake in NextEra Energy by 1.1% during the second quarter. Brown Advisory Securities LLC now owns 12,252 shares of the utilities provider’s stock worth $898,000 after purchasing an additional 129 shares during the period. Modera Wealth Management LLC raised its stake in NextEra Energy by 2.9% during the second quarter. Modera Wealth Management LLC now owns 4,886 shares of the utilities provider’s stock worth $358,000 after purchasing an additional 136 shares during the period. Finally, Verdence Capital Advisors LLC raised its stake in NextEra Energy by 1.8% during the first quarter. Verdence Capital Advisors LLC now owns 7,899 shares of the utilities provider’s stock worth $597,000 after purchasing an additional 138 shares during the period. Institutional investors and hedge funds own 74.67% of the company’s stock.
A number of research firms have recently issued reports on NEE. Credit Suisse Group began coverage on shares of NextEra Energy in a research note on Wednesday, July 14th. They issued an “outperform” rating and a $85.00 price target on the stock. Morgan Stanley boosted their price target on shares of NextEra Energy from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, August 19th. Finally, Barclays reduced their price target on shares of NextEra Energy from $82.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 25th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $80.70.
Shares of NextEra Energy stock traded up $0.13 during trading hours on Wednesday, hitting $84.77. The company had a trading volume of 133,503 shares, compared to its average volume of 7,881,096. The company’s 50-day moving average is $81.06 and its two-hundred day moving average is $76.90. NextEra Energy, Inc. has a twelve month low of $66.79 and a twelve month high of $87.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.48 and a quick ratio of 0.38. The company has a market cap of $166.27 billion, a P/E ratio of 53.07, a price-to-earnings-growth ratio of 4.05 and a beta of 0.19.
NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Thursday, July 22nd. The utilities provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.70 by $0.01. NextEra Energy had a net margin of 18.69% and a return on equity of 10.84%. The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $4.91 billion. During the same quarter in the prior year, the firm earned $2.61 EPS. NextEra Energy’s revenue for the quarter was down 6.6% on a year-over-year basis. Sell-side analysts expect that NextEra Energy, Inc. will post 2.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Friday, August 27th will be given a dividend of $0.385 per share. The ex-dividend date is Thursday, August 26th. This represents a $1.54 dividend on an annualized basis and a yield of 1.82%. NextEra Energy’s payout ratio is currently 66.67%.
NextEra Energy Profile
NextEra Energy, Inc is an electric power and energy infrastructure company. It operates through the following segments: FPL & NEER. The FPL segment engages primarily in the generation, transmission, distribution and sale of electric energy in Florida. The NEER segment produces electricity from clean and renewable sources, including wind and solar.
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