Short Interest in NextEra Energy Inc. (NEE) Declines By 45.4%
NextEra Energy Inc. (NYSE:NEE) was the target of a large decline in short interest in September. As of September 15th, there was short interest totalling 4,891,563 shares, a decline of 45.4% from the August 31st total of 8,961,779 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average trading volume of 2,148,619 shares, the days-to-cover ratio is presently 2.3 days.
Several equities research analysts recently commented on NEE shares. Deutsche Bank AG cut shares of NextEra Energy from a “buy” rating to a “hold” rating and set a $131.00 price objective on the stock. in a research report on Friday, September 23rd. Zacks Investment Research cut shares of NextEra Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Bank of America Corp. reaffirmed a “buy” rating and issued a $149.00 price objective on shares of NextEra Energy in a research report on Tuesday, September 27th. KeyCorp reissued an “outperform” rating and set a $134.00 price target (up from $126.00) on shares of NextEra Energy in a research report on Tuesday, July 5th. Finally, Morgan Stanley reissued a “buy” rating on shares of NextEra Energy in a research report on Monday, August 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of C$129.26.
In related news, VP Chris N. Froggatt sold 16,467 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of C$127.61, for a total value of C$2,101,353.87. Following the sale, the vice president now directly owns 22,916 shares of the company’s stock, valued at approximately C$2,924,310.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of NextEra Energy during the second quarter valued at approximately $2,430,000. Kentucky Retirement Systems purchased a new stake in shares of NextEra Energy during the second quarter valued at approximately $5,117,000. Mason Street Advisors LLC purchased a new stake in shares of NextEra Energy during the second quarter valued at approximately $8,105,000. Harbour Capital Advisors LLC purchased a new stake in shares of NextEra Energy during the second quarter valued at approximately $250,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of NextEra Energy by 4.5% in the second quarter. Public Employees Retirement System of Ohio now owns 316,912 shares of the company’s stock valued at $41,325,000 after buying an additional 13,611 shares during the period. 74.51% of the stock is currently owned by hedge funds and other institutional investors.
NextEra Energy (NYSE:NEE) opened at 122.32 on Friday. The firm’s 50 day moving average is $124.28 and its 200-day moving average is $122.60. The firm has a market cap of $56.51 billion, a price-to-earnings ratio of 21.89 and a beta of 0.33. NextEra Energy has a 12 month low of $96.19 and a 12 month high of $131.98.
NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, July 27th. The company reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $4.33 billion. NextEra Energy had a net margin of 15.36% and a return on equity of 11.82%. The company’s revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.56 EPS. On average, equities analysts forecast that NextEra Energy will post $6.20 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, August 30th were given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Friday, August 26th. NextEra Energy’s dividend payout ratio is presently 62.59%.
About NextEra Energy
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power company in North America with electric generating facilities located in over 30 states in the United States and approximately five provinces in Canada. NEE’s operating segments are FPL, an electric utility, and NEER, an energy business.
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