Spectrum Management Group Inc. Decreases Stake in NextEra Energy Inc (NEE)
Spectrum Management Group Inc. reduced its holdings in shares of NextEra Energy Inc (NYSE:NEE) by 8.3% in the 4th quarter, HoldingsChannel reports. The fund owned 5,495 shares of the utilities provider’s stock after selling 500 shares during the period. Spectrum Management Group Inc.’s holdings in NextEra Energy were worth $858,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of NEE. Swiss National Bank boosted its holdings in shares of NextEra Energy by 7.4% in the 4th quarter. Swiss National Bank now owns 2,065,424 shares of the utilities provider’s stock valued at $322,599,000 after buying an additional 141,800 shares during the last quarter. Sabal Trust CO boosted its holdings in shares of NextEra Energy by 15.2% in the 4th quarter. Sabal Trust CO now owns 4,091 shares of the utilities provider’s stock valued at $639,000 after buying an additional 541 shares during the last quarter. Bedel Financial Consulting Inc. acquired a new stake in shares of NextEra Energy in the 4th quarter valued at approximately $574,000. California Public Employees Retirement System boosted its holdings in shares of NextEra Energy by 5.8% in the 4th quarter. California Public Employees Retirement System now owns 1,357,323 shares of the utilities provider’s stock valued at $212,000,000 after buying an additional 74,909 shares during the last quarter. Finally, Community Bank N.A. boosted its holdings in shares of NextEra Energy by 3.9% in the 4th quarter. Community Bank N.A. now owns 13,936 shares of the utilities provider’s stock valued at $2,176,000 after buying an additional 528 shares during the last quarter. 75.44% of the stock is owned by institutional investors.
In other news, CEO Armando Pimentel, Jr. sold 42,372 shares of NextEra Energy stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $157.45, for a total transaction of $6,671,471.40. Following the completion of the sale, the chief executive officer now owns 121,958 shares of the company’s stock, valued at $19,202,287.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Armando Pimentel, Jr. sold 9,250 shares of NextEra Energy stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $151.83, for a total value of $1,404,427.50. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.
NextEra Energy (NYSE:NEE) last posted its earnings results on Friday, January 26th. The utilities provider reported $1.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.06). NextEra Energy had a return on equity of 11.50% and a net margin of 31.28%. The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the business posted $1.21 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. research analysts forecast that NextEra Energy Inc will post 7.72 EPS for the current fiscal year.
Several equities research analysts have recently commented on the company. Zacks Investment Research downgraded NextEra Energy from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Argus reaffirmed a “buy” rating and set a $173.00 price target on shares of NextEra Energy in a report on Tuesday, December 5th. They noted that the move was a valuation call. Guggenheim reaffirmed a “buy” rating and set a $182.00 price target on shares of NextEra Energy in a report on Friday, January 26th. UBS Group assumed coverage on NextEra Energy in a report on Friday, February 2nd. They set a “buy” rating and a $177.00 price target for the company. Finally, Morgan Stanley raised their price target on NextEra Energy from $173.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. NextEra Energy has an average rating of “Buy” and a consensus target price of $162.00.
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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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