Private Wealth Asset Management LLC Cuts Holdings in NextEra Energy, Inc. $NEE

Private Wealth Asset Management LLC reduced its holdings in NextEra Energy, Inc. (NYSE:NEE) by 10.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,628 shares of the utilities provider’s stock after selling 403 shares during the quarter. Private Wealth Asset Management LLC’s holdings in NextEra Energy were worth $252,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake 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 valued at $14,697,086,000 after purchasing an additional 2,025,193 shares during the period. Northern Trust Corp grew its holdings in shares of NextEra Energy by 1.1% in the 1st quarter. Northern Trust Corp now owns 23,353,245 shares of the utilities provider’s stock worth $1,655,512,000 after acquiring an additional 262,819 shares during the period. Goldman Sachs Group Inc. increased its stake in NextEra Energy by 6.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 21,269,146 shares of the utilities provider’s stock valued at $1,507,770,000 after purchasing an additional 1,336,259 shares in the last quarter. GQG Partners LLC raised its holdings 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 purchasing an additional 6,352,798 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in NextEra Energy by 20.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider’s stock worth $1,165,748,000 after purchasing an additional 2,815,629 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Stock Up 1.3%

Shares of NYSE NEE opened at $85.73 on Thursday. 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 1 year low of $61.72 and a 1 year high of $86.49. The stock’s 50-day simple moving average is $75.05 and its 200-day simple moving average is $72.03. The firm has a market cap of $176.53 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 2.86 and a beta of 0.66.

NextEra Energy (NYSE:NEE) last issued 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 return on equity of 12.31% and a net margin of 22.84%.The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the prior year, the business posted $0.96 earnings per share. NextEra Energy’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Thursday, August 28th. NextEra Energy’s payout ratio is 79.37%.

Insider Transactions at NextEra Energy

In other news, Treasurer James Michael May sold 2,177 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total value of $168,717.50. Following the sale, the treasurer owned 27,662 shares in the company, valued at approximately $2,143,805. This represents a 7.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Dunne sold 10,000 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $70.79, for a total transaction of $707,900.00. Following the transaction, the executive vice president directly owned 62,064 shares in the company, valued at $4,393,510.56. The trade was a 13.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,705 shares of company stock valued at $2,446,490 over the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NEE has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of NextEra Energy in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of NextEra Energy from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, August 22nd. Melius initiated coverage on NextEra Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $77.00 target price for the company. BMO Capital Markets increased their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $95.00 price objective (down from $96.00) on shares of NextEra Energy in a research note on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, NextEra Energy currently has an average rating of “Moderate Buy” and an average target price of $85.57.

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.