Louisiana State Employees Retirement System Reduces Stock Holdings in NextEra Energy, Inc. $NEE

Louisiana State Employees Retirement System reduced its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,600 shares of the utilities provider’s stock after selling 2,000 shares during the period. Louisiana State Employees Retirement System’s holdings in NextEra Energy were worth $7,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Sax Wealth Advisors LLC grew its stake in shares of NextEra Energy by 14.8% during the second quarter. Sax Wealth Advisors LLC now owns 19,262 shares of the utilities provider’s stock worth $1,337,000 after acquiring an additional 2,480 shares during the last quarter. BankPlus Trust Department boosted its stake in NextEra Energy by 10.8% in the 2nd quarter. BankPlus Trust Department now owns 32,129 shares of the utilities provider’s stock worth $2,230,000 after purchasing an additional 3,123 shares in the last quarter. Canopy Partners LLC boosted its stake in NextEra Energy by 12.0% in the 2nd quarter. Canopy Partners LLC now owns 11,976 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 1,285 shares in the last quarter. SGL Investment Advisors Inc. purchased a new position in shares of NextEra Energy in the second quarter worth $337,000. Finally, Shell Asset Management Co. raised its holdings in shares of NextEra Energy by 52.1% in the second quarter. Shell Asset Management Co. now owns 48,780 shares of the utilities provider’s stock worth $3,386,000 after buying an additional 16,712 shares during the last quarter. 78.72% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Price Performance

NYSE:NEE opened at $83.28 on Wednesday. The firm has a market cap of $171.50 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 2.83 and a beta of 0.66. The firm’s fifty day moving average is $73.43 and its two-hundred day moving average is $71.44. 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 one year low of $61.72 and a one year high of $86.00.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.04. The business had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 EPS. Research analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 28th were paid a dividend of $0.5665 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.7%. NextEra Energy’s dividend payout ratio (DPR) is presently 79.37%.

Insider Buying and Selling at NextEra Energy

In related 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 sale, the executive vice president directly owned 26,539 shares of the company’s stock, valued at approximately $1,906,561.76. This represents a 22.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Charles E. Sieving sold 11,336 shares of the company’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $80.00, for a total transaction of $906,880.00. Following the completion of the transaction, the executive vice president owned 167,481 shares of the company’s stock, valued at approximately $13,398,480. This trade represents a 6.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,705 shares of company stock worth $2,446,490. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NEE has been the subject of a number of research analyst reports. Evercore ISI set a $92.00 price target on shares of NextEra Energy and gave the stock an “outperform” rating in a report on Monday. Melius Research raised NextEra Energy to a “strong-buy” rating in a research report on Wednesday, August 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of NextEra Energy in a research note on Saturday, September 27th. BMO Capital Markets boosted their price target on NextEra Energy from $77.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Finally, HSBC decreased their target price on NextEra Energy from $88.00 to $86.00 and set a “buy” rating for the company in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $85.08.

About NextEra Energy

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.