Greystone Managed Investments Inc. Reduces Position in NextEra Energy, Inc. (NEE)
Greystone Managed Investments Inc. decreased its position in NextEra Energy, Inc. (NYSE:NEE) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,801 shares of the utilities provider’s stock after selling 5,381 shares during the period. Greystone Managed Investments Inc.’s holdings in NextEra Energy were worth $10,372,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Cpcm LLC acquired a new stake in shares of NextEra Energy during the fourth quarter worth approximately $346,000. Parallel Advisors LLC purchased a new position in shares of NextEra Energy during the fourth quarter valued at $764,000. Menta Capital LLC purchased a new position in shares of NextEra Energy during the fourth quarter valued at $1,082,000. Tyers Asset Management LLC purchased a new position in shares of NextEra Energy during the fourth quarter valued at $15,209,000. Finally, Zurich Insurance Group Ltd FI raised its position in shares of NextEra Energy by 62.8% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 80,132 shares of the utilities provider’s stock valued at $9,573,000 after buying an additional 30,902 shares during the period. 76.97% of the stock is owned by hedge funds and other institutional investors.
Shares of NextEra Energy, Inc. (NYSE:NEE) traded up 0.55% during mid-day trading on Thursday, hitting $147.54. The stock had a trading volume of 1,418,606 shares. The stock has a market cap of $69.23 billion, a P/E ratio of 16.90 and a beta of 0.32. The company’s 50 day moving average is $142.09 and its 200-day moving average is $133.79. NextEra Energy, Inc. has a 52-week low of $110.49 and a 52-week high of $147.84.
NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.44 billion. NextEra Energy had a net margin of 24.26% and a return on equity of 11.88%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 earnings per share. On average, equities research analysts anticipate that NextEra Energy, Inc. will post $6.72 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be issued a $0.9825 dividend. This represents a $3.93 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Wednesday, August 23rd. NextEra Energy’s payout ratio is currently 45.02%.
Several brokerages have weighed in on NEE. Goldman Sachs Group, Inc. (The) assumed coverage on NextEra Energy in a report on Monday, July 24th. They issued a “buy” rating and a $160.00 price target for the company. Royal Bank Of Canada reissued an “outperform” rating and set a $147.00 price objective (up previously from $144.00) on shares of NextEra Energy in a research note on Sunday, July 9th. Morgan Stanley lifted their price objective on NextEra Energy from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, May 8th. Wells Fargo & Company restated an “outperform” rating and set a $158.00 price target (up previously from $150.00) on shares of NextEra Energy in a research report on Monday, June 19th. Finally, UBS AG restated a “buy” rating and set a $143.00 price target (up previously from $138.00) on shares of NextEra Energy in a research report on Tuesday, April 18th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $148.18.
In other NextEra Energy news, Director James L. Robo sold 52,320 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $136.48, for a total value of $7,140,633.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eric E. Silagy sold 8,111 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $140.58, for a total transaction of $1,140,244.38. Following the completion of the sale, the director now owns 26,884 shares in the company, valued at $3,779,352.72. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.
About NextEra Energy
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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