Westwood Holdings Group Inc. cut its stake in NextEra Energy Inc (NYSE:NEE) by 21.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 455,841 shares of the utilities provider’s stock after selling 121,215 shares during the period. NextEra Energy comprises approximately 1.0% of Westwood Holdings Group Inc.’s holdings, making the stock its 21st largest holding. Westwood Holdings Group Inc. owned approximately 0.10% of NextEra Energy worth $93,383,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in NEE. TRUE Private Wealth Advisors acquired a new stake in NextEra Energy during the 2nd quarter valued at $25,000. Krane Funds Advisors LLC acquired a new stake in NextEra Energy during the 2nd quarter valued at $25,000. Manchester Financial Inc. acquired a new stake in NextEra Energy during the 2nd quarter valued at $26,000. Mackey Komara & Dankovich LLC increased 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 valued at $29,000 after purchasing an additional 625 shares in the last quarter. Finally, Legacy Advisors LLC increased its holdings in NextEra Energy by 1,000.0% during the 2nd quarter. Legacy Advisors LLC now owns 165 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 150 shares in the last quarter. 76.09% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Charles E. Sieving sold 4,987 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 46,467 shares in the company, valued at approximately $10,339,836.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sherry S. Barrat sold 4,700 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $218.57, for a total value of $1,027,279.00. The disclosure for this sale can be found here. Insiders sold a total of 97,853 shares of company stock worth $21,215,994 over the last 90 days. 0.48% of the stock is owned by corporate insiders.
NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, July 24th. The utilities provider reported $2.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.07. The company had revenue of $4.97 billion during the quarter, compared to analysts’ expectations of $4.68 billion. NextEra Energy had a return on equity of 10.46% and a net margin of 18.73%. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period last year, the firm earned $2.08 EPS. Equities analysts expect that NextEra Energy Inc will post 8.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 29th were given a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $5.00 annualized dividend and a dividend yield of 2.22%. NextEra Energy’s dividend payout ratio is currently 64.94%.
A number of equities research analysts recently weighed in on the company. Credit Suisse Group raised their price target on NextEra Energy from $231.00 to $232.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Wells Fargo & Co set a $240.00 target price on NextEra Energy and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Guggenheim lifted their target price on NextEra Energy from $205.00 to $223.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Morgan Stanley set a $233.00 target price on NextEra Energy and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Barclays cut NextEra Energy from an “overweight” rating to an “equal weight” rating and set a $218.00 target price for the company. in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $217.77.
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.
Further Reading: Overbought
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