DAVENPORT & Co LLC Reduces Stake in NextEra Energy, Inc. $NEE

DAVENPORT & Co LLC trimmed its position in NextEra Energy, Inc. (NYSE:NEE) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,989,694 shares of the utilities provider’s stock after selling 23,049 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.10% of NextEra Energy worth $138,926,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NEE. GQG Partners LLC grew its position in NextEra Energy by 58.4% during the first quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider’s stock worth $1,221,896,000 after buying an additional 6,352,798 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of NextEra Energy by 20.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider’s stock valued at $1,165,748,000 after acquiring an additional 2,815,629 shares during the last quarter. Amundi grew its holdings in shares of NextEra Energy by 27.8% during the first quarter. Amundi now owns 12,200,990 shares of the utilities provider’s stock worth $878,447,000 after purchasing an additional 2,657,438 shares in the last quarter. Vanguard Group Inc. increased its position in shares of NextEra Energy by 1.0% in the first quarter. Vanguard Group Inc. now owns 207,322,418 shares of the utilities provider’s stock worth $14,697,086,000 after purchasing an additional 2,025,193 shares during the last quarter. Finally, Boston Partners raised its stake in NextEra Energy by 55.3% in the first quarter. Boston Partners now owns 5,300,839 shares of the utilities provider’s stock valued at $374,639,000 after purchasing an additional 1,886,999 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors.

Insider Activity

In other NextEra Energy news, EVP Robert Coffey sold 7,500 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $71.84, for a total transaction of $538,800.00. Following the completion of the sale, the executive vice president owned 26,539 shares of the company’s stock, valued at $1,906,561.76. This represents a 22.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark Lemasney sold 846 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the transaction, the executive vice president owned 9,267 shares in the company, valued at $694,098.30. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,369 shares of company stock valued at $1,539,610. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NEE. Melius assumed coverage on shares of NextEra Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $77.00 price target for the company. Barclays lifted their price objective on shares of NextEra Energy from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Weiss Ratings reissued a “hold (c)” rating on shares of NextEra Energy in a research note on Saturday, September 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $95.00 price target (down previously from $96.00) on shares of NextEra Energy in a research note on Thursday, September 25th. Finally, HSBC reduced their price objective on NextEra Energy from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.08.

NextEra Energy Stock Up 2.5%

Shares of NYSE:NEE opened at $80.12 on Monday. The stock has a market capitalization of $164.98 billion, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 2.76 and a beta of 0.66. The stock’s 50-day moving average price is $72.99 and its 200-day moving average price is $71.28. 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, Inc. has a 12-month low of $61.72 and a 12-month high of $86.00.

NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $7.52 billion. During the same quarter in the previous year, the company posted $0.96 EPS. NextEra Energy’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 28th were paid a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 28th. NextEra Energy’s payout ratio is presently 79.02%.

NextEra Energy Company 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.