Studio Investment Management LLC Lowers Holdings in NextEra Energy, Inc. $NEE

Studio Investment Management LLC cut its position in NextEra Energy, Inc. (NYSE:NEE) by 1.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 89,486 shares of the utilities provider’s stock after selling 1,019 shares during the quarter. NextEra Energy accounts for about 1.2% of Studio Investment Management LLC’s holdings, making the stock its 19th largest holding. Studio Investment Management LLC’s holdings in NextEra Energy were worth $6,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NEE. Activest Wealth Management raised its position in shares of NextEra Energy by 79.7% during the 2nd quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock valued at $25,000 after buying an additional 157 shares in the last quarter. Harbor Asset Planning Inc. purchased a new stake in shares of NextEra Energy during the 2nd quarter valued at $25,000. 1 North Wealth Services LLC purchased a new stake in shares of NextEra Energy during the 1st quarter valued at $26,000. Nova Wealth Management Inc. purchased a new stake in shares of NextEra Energy during the 1st quarter valued at $32,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of NextEra Energy during the 1st quarter valued at $35,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other NextEra Energy news, EVP Charles E. Sieving sold 11,336 shares of the firm’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total value of $906,880.00. Following the sale, the executive vice president owned 167,481 shares of the company’s stock, valued at $13,398,480. This trade represents a 6.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Lemasney sold 846 shares of the firm’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the sale, the executive vice president directly owned 9,267 shares in the company, valued at approximately $694,098.30. This trade represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,528 shares of company stock worth $2,277,773 in the last quarter. Insiders own 0.18% of the company’s stock.

NextEra Energy Price Performance

NEE stock opened at $83.97 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $86.74. The firm’s fifty day moving average is $76.03 and its 200 day moving average is $72.44. The firm has a market cap of $172.92 billion, a P/E ratio of 29.36, a P/E/G ratio of 2.87 and a beta of 0.66.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 EPS. Research analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current 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 issued a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 28th. NextEra Energy’s dividend payout ratio (DPR) is 79.37%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Mizuho set a $78.00 price objective on shares of NextEra Energy in a research report on Thursday, August 21st. Weiss Ratings restated a “hold (c+)” rating on shares of NextEra Energy in a research report on Tuesday, October 14th. Barclays set a $87.00 target price on shares of NextEra Energy and gave the company an “equal weight” rating in a report on Tuesday. Cowen began coverage on shares of NextEra Energy in a report on Wednesday, October 15th. They set a “buy” rating on the stock. Finally, TD Cowen began coverage on shares of NextEra Energy in a report on Thursday, October 16th. They set a “buy” rating and a $98.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $88.38.

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.