SlateStone Wealth LLC boosted its stake in NextEra Energy Inc (NYSE:NEE) by 20.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,464 shares of the utilities provider’s stock after purchasing an additional 772 shares during the period. SlateStone Wealth LLC’s holdings in NextEra Energy were worth $863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. First Manhattan Co. increased its holdings in shares of NextEra Energy by 2.1% during the first quarter. First Manhattan Co. now owns 4,510 shares of the utilities provider’s stock valued at $872,000 after purchasing an additional 93 shares during the period. Sowell Financial Services LLC boosted its stake in NextEra Energy by 7.3% during the fourth quarter. Sowell Financial Services LLC now owns 2,635 shares of the utilities provider’s stock valued at $458,000 after buying an additional 180 shares in the last quarter. Covington Capital Management boosted its stake in NextEra Energy by 1.8% during the fourth quarter. Covington Capital Management now owns 85,166 shares of the utilities provider’s stock valued at $14,804,000 after buying an additional 1,483 shares in the last quarter. Kaizen Advisory LLC boosted its stake in NextEra Energy by 22.5% during the fourth quarter. Kaizen Advisory LLC now owns 1,296 shares of the utilities provider’s stock valued at $225,000 after buying an additional 238 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in NextEra Energy by 9.6% during the first quarter. Parallel Advisors LLC now owns 11,428 shares of the utilities provider’s stock valued at $2,210,000 after buying an additional 1,002 shares in the last quarter. 77.00% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on NEE shares. Zacks Investment Research cut NextEra Energy from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Morgan Stanley raised their target price on NextEra Energy from $184.00 to $188.00 and gave the company an “overweight” rating in a research note on Tuesday, February 12th. Goldman Sachs Group cut NextEra Energy from a “conviction-buy” rating to a “buy” rating and set a $194.00 target price for the company. in a research note on Monday, April 8th. Credit Suisse Group set a $199.00 target price on NextEra Energy and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Barclays raised NextEra Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $187.00 to $207.00 in a research note on Wednesday, March 20th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $196.83.
NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $2.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.19. NextEra Energy had a return on equity of 10.26% and a net margin of 17.13%. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same quarter last year, the company posted $1.94 EPS. Research analysts expect that NextEra Energy Inc will post 8.41 EPS for the current fiscal year.
In related news, EVP Charles E. Sieving sold 16,446 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.08, for a total value of $3,290,515.68. Following the completion of the transaction, the executive vice president now owns 67,900 shares in the company, valued at approximately $13,585,432. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James L. Robo sold 111,864 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $191.27, for a total value of $21,396,227.28. The disclosure for this sale can be found here. Insiders sold a total of 240,594 shares of company stock valued at $46,236,648 in the last quarter. 0.48% of the stock is currently owned by corporate insiders.
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NextEra Energy Profile
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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