Abacus Planning Group Inc. Purchases 378 Shares of NextEra Energy, Inc. $NEE

Abacus Planning Group Inc. grew its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 2.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,360 shares of the utilities provider’s stock after buying an additional 378 shares during the quarter. Abacus Planning Group Inc.’s holdings in NextEra Energy were worth $997,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NEE. Hilltop National Bank bought a new position in NextEra Energy in the second quarter worth about $402,000. Triad Wealth Partners LLC raised its stake in NextEra Energy by 11.4% in the second quarter. Triad Wealth Partners LLC now owns 3,841 shares of the utilities provider’s stock worth $267,000 after buying an additional 394 shares in the last quarter. Cornell Pochily Investment Advisors Inc. raised its stake in NextEra Energy by 9.3% in the second quarter. Cornell Pochily Investment Advisors Inc. now owns 14,558 shares of the utilities provider’s stock worth $1,011,000 after buying an additional 1,243 shares in the last quarter. Tower View Wealth Management LLC raised its stake in NextEra Energy by 1,313.5% in the second quarter. Tower View Wealth Management LLC now owns 4,283 shares of the utilities provider’s stock worth $297,000 after buying an additional 3,980 shares in the last quarter. Finally, J. Safra Sarasin Holding AG raised its stake in NextEra Energy by 10.7% in the second quarter. J. Safra Sarasin Holding AG now owns 48,072 shares of the utilities provider’s stock worth $3,337,000 after buying an additional 4,655 shares in the last quarter. 78.72% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Robert Coffey sold 7,500 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 26,539 shares in the company, valued at $1,906,561.76. This represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark Lemasney sold 846 shares of the stock in a transaction that occurred on Thursday, September 25th. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,369 shares of company stock worth $1,539,610. Corporate insiders own 0.20% of the company’s stock.

NextEra Energy Price Performance

Shares of NYSE NEE opened at $78.10 on Friday. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.10. The company has a 50 day simple moving average of $72.82 and a two-hundred day simple moving average of $71.21. The company has a market capitalization of $160.83 billion, a price-to-earnings ratio of 27.31, a P/E/G ratio of 2.71 and a beta of 0.66. 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 (NYSE:NEE) last posted its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 28th were issued a dividend of $0.5665 per share. The ex-dividend date was Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.9%. NextEra Energy’s dividend payout ratio is presently 79.02%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. HSBC decreased their price target on shares of NextEra Energy from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Friday, July 11th. Mizuho set a $78.00 price target on shares of NextEra Energy in a research note on Thursday, August 21st. Melius started 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. Melius Research raised shares of NextEra Energy to a “strong-buy” rating in a research note on Wednesday, August 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $95.00 target price (down previously from $96.00) on shares of NextEra Energy in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.08.

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.