Modus Advisors LLC lifted its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 49.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,396 shares of the utilities provider’s stock after acquiring an additional 2,763 shares during the period. Modus Advisors LLC’s holdings in NextEra Energy were worth $635,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Parsec Financial Management Inc. increased its position in NextEra Energy by 297.6% during the 4th quarter. Parsec Financial Management Inc. now owns 34,358 shares of the utilities provider’s stock worth $2,651,000 after purchasing an additional 25,716 shares in the last quarter. Glenview Trust Co increased its position in NextEra Energy by 299.0% during the 4th quarter. Glenview Trust Co now owns 40,023 shares of the utilities provider’s stock worth $3,087,000 after purchasing an additional 29,991 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in NextEra Energy by 388.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 29,675 shares of the utilities provider’s stock worth $2,289,000 after purchasing an additional 23,603 shares in the last quarter. CENTRAL TRUST Co increased its position in NextEra Energy by 296.1% during the 4th quarter. CENTRAL TRUST Co now owns 227,754 shares of the utilities provider’s stock worth $17,571,000 after purchasing an additional 170,258 shares in the last quarter. Finally, Meitav Dash Investments Ltd. grew its position in NextEra Energy by 298.5% in the fourth quarter. Meitav Dash Investments Ltd. now owns 449,847 shares of the utilities provider’s stock valued at $34,704,000 after acquiring an additional 336,954 shares in the last quarter. 19.20% of the stock is owned by hedge funds and other institutional investors.
In other NextEra Energy news, CEO Eric E. Silagy sold 8,172 shares of the firm’s stock in a transaction on Monday, April 5th. The stock was sold at an average price of $77.04, for a total value of $629,570.88. Following the sale, the chief executive officer now directly owns 168,376 shares in the company, valued at $12,971,687.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric E. Silagy sold 4,764 shares of NextEra Energy stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $76.13, for a total transaction of $362,683.32. Following the sale, the chief executive officer now owns 176,548 shares in the company, valued at $13,440,599.24. The disclosure for this sale can be found here. Insiders sold 165,531 shares of company stock worth $12,575,235 over the last quarter. 0.40% of the stock is currently owned by company insiders.
NextEra Energy (NYSE:NEE) last posted its earnings results on Monday, January 25th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $5.71 billion. NextEra Energy had a return on equity of 10.79% and a net margin of 21.44%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business posted $0.36 earnings per share. Sell-side analysts expect that NextEra Energy, Inc. will post 2.3 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Friday, February 26th were paid a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Thursday, February 25th. NextEra Energy’s payout ratio is 73.68%.
Several brokerages have issued reports on NEE. Wells Fargo & Company increased their price objective on shares of NextEra Energy from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, January 27th. Sanford C. Bernstein initiated coverage on shares of NextEra Energy in a research report on Tuesday, March 9th. They set an “outperform” rating and a $88.00 price target for the company. Mizuho raised their price target on shares of NextEra Energy from $64.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, January 11th. Morgan Stanley decreased their price target on shares of NextEra Energy from $77.00 to $66.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 16th. Finally, Credit Suisse Group raised shares of NextEra Energy from a “neutral” rating to an “outperform” rating and decreased their price target for the stock from $87.00 to $85.00 in a research report on Monday, March 15th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $78.18.
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 fossil fuel, such as coal and natural gas facilities. It also develops, constructs, and operates long-term contracted assets with a focus on renewable generation facilities, electric transmission facilities, and battery storage projects; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.
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