Exchange Capital Management Inc. Cuts Stake in NextEra Energy Inc (NEE)
Exchange Capital Management Inc. lessened its holdings in NextEra Energy Inc (NYSE:NEE) by 5.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,879 shares of the utilities provider’s stock after selling 391 shares during the period. Exchange Capital Management Inc.’s holdings in NextEra Energy were worth $1,008,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its stake in NextEra Energy by 3,384.2% during the 1st quarter. BlackRock Inc. now owns 37,833,468 shares of the utilities provider’s stock worth $4,856,682,000 after buying an additional 36,747,599 shares during the period. Janus Henderson Group PLC increased its stake in NextEra Energy by 2,832.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,800,376 shares of the utilities provider’s stock worth $252,287,000 after buying an additional 1,738,989 shares during the period. Vanguard Group Inc. increased its stake in NextEra Energy by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 34,147,719 shares of the utilities provider’s stock worth $4,785,120,000 after buying an additional 1,503,907 shares during the period. Principal Financial Group Inc. increased its stake in NextEra Energy by 122.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,479,209 shares of the utilities provider’s stock worth $207,281,000 after buying an additional 814,478 shares during the period. Finally, BT Investment Management Ltd purchased a new stake in NextEra Energy during the 2nd quarter worth $96,214,000. 75.63% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP John W. Ketchum sold 2,900 shares of NextEra Energy stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $150.00, for a total value of $435,000.00. Following the completion of the transaction, the executive vice president now directly owns 18,786 shares of the company’s stock, valued at approximately $2,817,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James L. Robo sold 30,000 shares of NextEra Energy stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $151.52, for a total transaction of $4,545,600.00. The disclosure for this sale can be found here. Insiders sold a total of 65,385 shares of company stock valued at $9,748,482 over the last ninety days. Company insiders own 0.53% of the company’s stock.
NextEra Energy Inc (NYSE:NEE) traded down $1.50 during midday trading on Tuesday, hitting $155.97. 1,400,900 shares of the stock traded hands, compared to its average volume of 1,683,221. NextEra Energy Inc has a 1-year low of $113.18 and a 1-year high of $159.28. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.61 and a quick ratio of 0.49. The firm has a market cap of $74,073.52, a price-to-earnings ratio of 23.61, a PEG ratio of 3.14 and a beta of 0.31.
NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.08. NextEra Energy had a net margin of 24.81% and a return on equity of 11.86%. The business had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the business posted $1.74 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. equities research analysts expect that NextEra Energy Inc will post 6.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be issued a $0.9825 dividend. This represents a $3.93 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Wednesday, November 22nd. NextEra Energy’s dividend payout ratio (DPR) is presently 44.16%.
Several equities research analysts recently issued reports on the stock. Argus lifted their price target on shares of NextEra Energy to $173.00 and gave the stock a “buy” rating in a research note on Tuesday. They noted that the move was a valuation call. Morgan Stanley lifted their price target on shares of NextEra Energy from $163.00 to $167.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th. J P Morgan Chase & Co assumed coverage on shares of NextEra Energy in a report on Thursday, September 7th. They set an “overweight” rating and a $173.00 price objective for the company. Zacks Investment Research raised shares of NextEra Energy from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Tuesday, October 10th. Finally, KeyCorp reissued a “buy” rating and set a $155.00 price objective on shares of NextEra Energy in a report on Thursday, October 12th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $156.64.
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About NextEra Energy
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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