Kovitz Investment Group Partners LLC Decreases Holdings in NextEra Energy, Inc. (NEE)
Kovitz Investment Group Partners LLC lessened its holdings in NextEra Energy, Inc. (NYSE:NEE) by 14.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,304 shares of the utilities provider’s stock after selling 2,745 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in NextEra Energy were worth $2,285,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in NEE. BlackRock Inc. boosted its holdings in NextEra Energy by 3,384.2% in the first quarter. BlackRock Inc. now owns 37,833,468 shares of the utilities provider’s stock worth $4,856,682,000 after purchasing an additional 36,747,599 shares during the period. APG Asset Management N.V. boosted its holdings in NextEra Energy by 75.0% in the first quarter. APG Asset Management N.V. now owns 1,971,565 shares of the utilities provider’s stock worth $253,090,000 after purchasing an additional 844,862 shares during the period. Bank of Montreal Can acquired a new position in NextEra Energy in the second quarter worth $83,603,000. Swiss National Bank boosted its holdings in NextEra Energy by 26.1% in the first quarter. Swiss National Bank now owns 1,851,224 shares of the utilities provider’s stock worth $237,642,000 after purchasing an additional 382,800 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in NextEra Energy by 7.9% in the first quarter. Geode Capital Management LLC now owns 4,578,611 shares of the utilities provider’s stock worth $586,925,000 after purchasing an additional 336,562 shares during the period. 75.41% of the stock is owned by hedge funds and other institutional investors.
NextEra Energy, Inc. (NYSE:NEE) opened at 146.82 on Tuesday. The stock’s 50 day moving average is $148.97 and its 200 day moving average is $139.72. NextEra Energy, Inc. has a one year low of $110.49 and a one year high of $151.60. The firm has a market cap of $68.89 billion, a P/E ratio of 16.82 and a beta of 0.33.
NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.10. NextEra Energy had a return on equity of 11.88% and a net margin of 24.26%. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the prior year, the business posted $1.67 earnings per share. The business’s revenue was up 15.4% compared to the same quarter last year. On average, equities research analysts expect that NextEra Energy, Inc. will post $6.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were issued a dividend of $0.9825 per share. This represents a $3.93 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Wednesday, August 23rd. NextEra Energy’s payout ratio is presently 45.02%.
In other news, EVP John W. Ketchum sold 2,900 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $150.00, for a total transaction of $435,000.00. Following the sale, the executive vice president now owns 18,786 shares in the company, valued at $2,817,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James L. Robo sold 30,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $147.05, for a total value of $4,411,500.00. The disclosure for this sale can be found here. Insiders have sold 63,385 shares of company stock worth $9,314,382 in the last 90 days. Company insiders own 0.53% of the company’s stock.
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NEE has been the subject of a number of research reports. BidaskClub downgraded shares of NextEra Energy from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $158.00 price objective (up previously from $150.00) on shares of NextEra Energy in a report on Monday, June 19th. BMO Capital Markets reaffirmed a “buy” rating and issued a $156.00 price objective (up previously from $144.00) on shares of NextEra Energy in a report on Friday, June 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 price objective (up previously from $144.00) on shares of NextEra Energy in a report on Sunday, July 9th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on shares of NextEra Energy in a report on Monday, July 24th. They issued a “buy” rating and a $160.00 price objective for the company. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $151.15.
NextEra Energy Company Profile
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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