Eastern Bank Cuts Stake in NextEra Energy, Inc. $NEE

Eastern Bank lowered its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 905,425 shares of the utilities provider’s stock after selling 18,118 shares during the quarter. NextEra Energy makes up 1.2% of Eastern Bank’s portfolio, making the stock its 25th biggest holding. Eastern Bank’s holdings in NextEra Energy were worth $62,855,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NEE. 1 North Wealth Services LLC purchased a new position in NextEra Energy during the 1st quarter valued at approximately $26,000. Nova Wealth Management Inc. purchased a new position in NextEra Energy during the 1st quarter valued at approximately $32,000. IMA Advisory Services Inc. purchased a new position in NextEra Energy during the 1st quarter valued at approximately $35,000. Semmax Financial Advisors Inc. grew its holdings in NextEra Energy by 335.0% during the 1st quarter. Semmax Financial Advisors Inc. now owns 509 shares of the utilities provider’s stock valued at $36,000 after buying an additional 392 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its holdings in NextEra Energy by 237.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider’s stock valued at $37,000 after buying an additional 366 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, EVP Mark Lemasney sold 846 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $74.90, for a total transaction of $63,365.40. Following the sale, the executive vice president owned 9,267 shares in the company, valued at approximately $694,098.30. The trade was a 8.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Dunne sold 10,000 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $70.79, for a total value of $707,900.00. Following the sale, the executive vice president owned 62,064 shares in the company, valued at approximately $4,393,510.56. The trade was a 13.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,705 shares of company stock worth $2,446,490. 0.20% of the stock is owned by corporate insiders.

NextEra Energy Trading Down 0.5%

NEE opened at $83.30 on Friday. The stock has a fifty day moving average price of $74.20 and a 200-day moving average price of $71.73. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.00. The firm has a market cap of $171.54 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 2.88 and a beta of 0.66. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36.

NextEra Energy (NYSE:NEE) last announced its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period in the prior year, the company posted $0.96 EPS. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 28th were paid a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a yield of 2.7%. The ex-dividend date was Thursday, August 28th. NextEra Energy’s payout ratio is presently 79.37%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NEE. Melius Research upgraded NextEra Energy to a “strong-buy” rating in a report on Wednesday, August 20th. Barclays raised their price target on NextEra Energy from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. HSBC cut their price target on NextEra Energy from $88.00 to $86.00 and set a “buy” rating for the company in a report on Friday, July 11th. Melius initiated coverage on NextEra Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $77.00 price objective for the company. Finally, Evercore ISI set a $92.00 price objective on NextEra Energy and gave the company an “outperform” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.08.

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,natural gas, and other clean energy. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.