Burns J W & Co. Inc. NY increased its position in NextEra Energy Inc (NYSE:NEE) by 26.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,412 shares of the utilities provider’s stock after acquiring an additional 508 shares during the period. Burns J W & Co. Inc. NY’s holdings in NextEra Energy were worth $562,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. TRUE Private Wealth Advisors bought a new stake in NextEra Energy during the 2nd quarter worth about $25,000. Krane Funds Advisors LLC bought a new stake in NextEra Energy during the 2nd quarter worth about $25,000. Manchester Financial Inc. bought a new stake in NextEra Energy during the 2nd quarter worth about $26,000. Mackey Komara & Dankovich LLC raised its holdings in NextEra Energy by 446.4% during the 2nd quarter. Mackey Komara & Dankovich LLC now owns 765 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 625 shares during the last quarter. Finally, First PREMIER Bank bought a new stake in NextEra Energy during the 3rd quarter worth about $33,000. 76.09% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Charles E. Sieving sold 4,987 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $222.52, for a total value of $1,109,707.24. Following the completion of the transaction, the executive vice president now directly owns 46,467 shares in the company, valued at approximately $10,339,836.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James L. Robo sold 44,537 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $216.85, for a total value of $9,657,848.45. The disclosure for this sale can be found here. Insiders sold a total of 97,576 shares of company stock valued at $21,514,886 over the last quarter. 0.48% of the stock is owned by insiders.
NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, July 24th. The utilities provider reported $2.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.07. The company had revenue of $4.97 billion during the quarter, compared to analyst estimates of $4.68 billion. NextEra Energy had a return on equity of 10.46% and a net margin of 18.73%. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.08 EPS. As a group, equities research analysts anticipate that NextEra Energy Inc will post 8.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 29th were given a $1.25 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $5.00 annualized dividend and a dividend yield of 2.17%. NextEra Energy’s dividend payout ratio is presently 64.94%.
Several analysts have weighed in on NEE shares. Barclays cut NextEra Energy from an “overweight” rating to an “equal weight” rating and set a $218.00 price objective for the company. in a report on Tuesday, August 13th. Wells Fargo & Co set a $240.00 price objective on NextEra Energy and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Morgan Stanley set a $233.00 price objective on NextEra Energy and gave the stock a “buy” rating in a report on Friday, August 16th. ValuEngine lowered NextEra Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, UBS Group boosted their target price on NextEra Energy from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. NextEra Energy has a consensus rating of “Buy” and a consensus target price of $219.85.
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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