Mitchell Capital Management Co. Lowers Stock Position in NextEra Energy, Inc. $NEE

Mitchell Capital Management Co. trimmed its position in NextEra Energy, Inc. (NYSE:NEE) by 86.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,406 shares of the utilities provider’s stock after selling 27,212 shares during the quarter. Mitchell Capital Management Co.’s holdings in NextEra Energy were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of NextEra Energy by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 212,877,021 shares of the utilities provider’s stock valued at $14,777,923,000 after purchasing an additional 5,554,603 shares during the period. Geode Capital Management LLC lifted its position in shares of NextEra Energy by 1.2% in the second quarter. Geode Capital Management LLC now owns 45,724,229 shares of the utilities provider’s stock valued at $3,161,774,000 after acquiring an additional 526,996 shares in the last quarter. Norges Bank bought a new position in shares of NextEra Energy in the second quarter worth about $2,375,545,000. Charles Schwab Investment Management Inc. grew its position in shares of NextEra Energy by 2.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 16,786,728 shares of the utilities provider’s stock worth $1,165,896,000 after purchasing an additional 340,315 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in NextEra Energy by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 16,414,103 shares of the utilities provider’s stock valued at $1,139,467,000 after purchasing an additional 408,198 shares during the period. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Insider Activity

In related news, CEO John W. Ketchum sold 99,603 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $89.34, for a total transaction of $8,898,532.02. Following the transaction, the chief executive officer directly owned 305,933 shares in the company, valued at approximately $27,332,054.22. This represents a 24.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Armando Pimentel, Jr. sold 145,140 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $83.91, for a total transaction of $12,178,697.40. Following the completion of the sale, the chief executive officer directly owned 162,693 shares of the company’s stock, valued at approximately $13,651,569.63. The trade was a 47.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 304,189 shares of company stock worth $26,373,239. Insiders own 0.20% of the company’s stock.

NextEra Energy Trading Up 0.7%

Shares of NEE stock opened at $91.44 on Thursday. The company has a market cap of $190.43 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 2.81 and a beta of 0.76. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $91.96. The stock’s 50 day simple moving average is $83.23 and its two-hundred day simple moving average is $79.89. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.60 and a quick ratio of 0.49.

NextEra Energy (NYSE:NEE) last announced its earnings results on Tuesday, January 27th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. NextEra Energy had a return on equity of 12.18% and a net margin of 24.93%.The firm had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the previous year, the business earned $0.53 EPS. The company’s quarterly revenue was up 20.7% on a year-over-year basis. Research analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

Analyst Ratings Changes

NEE has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of NextEra Energy from $94.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Argus set a $92.00 price objective on shares of NextEra Energy and gave the company a “buy” rating in a report on Wednesday, January 28th. TD Cowen began coverage on NextEra Energy in a report on Thursday, October 16th. They issued a “buy” rating and a $98.00 target price on the stock. Seaport Research Partners cut their price target on NextEra Energy from $56.00 to $55.00 and set a “sell” rating for the company in a report on Monday, February 2nd. Finally, Evercore reaffirmed an “outperform” rating and set a $93.00 price objective on shares of NextEra Energy in a report on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, NextEra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $92.95.

About NextEra Energy

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.