State of Wisconsin Investment Board reduced its stake in shares of NextEra Energy Inc (NYSE:NEE) by 3.3% during the first quarter, HoldingsChannel reports. The firm owned 576,564 shares of the utilities provider’s stock after selling 19,852 shares during the period. State of Wisconsin Investment Board’s holdings in NextEra Energy were worth $111,461,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. First Manhattan Co. boosted its stake in shares of NextEra Energy by 2.1% in 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 shares of NextEra Energy by 7.3% in the fourth quarter. Sowell Financial Services LLC now owns 2,635 shares of the utilities provider’s stock valued at $458,000 after purchasing an additional 180 shares during the period. Covington Capital Management boosted its stake in NextEra Energy by 1.8% during the 4th quarter. Covington Capital Management now owns 85,166 shares of the utilities provider’s stock valued at $14,804,000 after acquiring an additional 1,483 shares during the last quarter. Wetherby Asset Management Inc. boosted its stake in NextEra Energy by 14.4% during the 1st quarter. Wetherby Asset Management Inc. now owns 9,052 shares of the utilities provider’s stock valued at $1,750,000 after acquiring an additional 1,142 shares during the last quarter. Finally, Kaizen Advisory LLC boosted its stake in NextEra Energy by 22.5% during the 4th quarter. Kaizen Advisory LLC now owns 1,296 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 238 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.
In other news, Director Rudy E. Schupp sold 1,600 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $191.52, for a total transaction of $306,432.00. Following the completion of the transaction, the director now owns 19,210 shares in the company, valued at approximately $3,679,099.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James L. Robo sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.86, for a total transaction of $3,072,900.00. The disclosure for this sale can be found here. Insiders sold a total of 86,475 shares of company stock valued at $17,079,179 in the last quarter. 0.48% of the stock is currently owned by insiders.
NextEra Energy (NYSE:NEE) last announced its earnings results on Tuesday, April 23rd. The utilities provider reported $2.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.19. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.11 billion. NextEra Energy had a net margin of 17.13% and a return on equity of 10.26%. During the same quarter in the prior year, the firm posted $1.94 EPS. Equities research analysts expect that NextEra Energy Inc will post 8.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $5.00 dividend on an annualized basis and a yield of 2.44%. NextEra Energy’s dividend payout ratio is presently 64.94%.
A number of analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of NextEra Energy from $194.00 to $207.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group increased their target price on shares of NextEra Energy from $225.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, June 7th. KeyCorp assumed coverage on shares of NextEra Energy in a report on Tuesday, June 4th. They set an “overweight” rating and a $225.00 target price on the stock. Scotiabank raised shares of NextEra Energy from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $187.00 to $202.00 in a report on Wednesday, May 8th. Finally, Zacks Investment Research cut shares of NextEra Energy from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $204.46.
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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