GAM Holding AG Lowers Stake in NextEra Energy, Inc. (NEE)
GAM Holding AG cut its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 8.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,056 shares of the utilities provider’s stock after selling 6,513 shares during the period. GAM Holding AG’s holdings in NextEra Energy were worth $10,518,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of NextEra Energy by 3,384.2% during the first quarter. BlackRock Inc. now owns 37,833,468 shares of the utilities provider’s stock valued at $4,856,682,000 after purchasing an additional 36,747,599 shares during the period. Wellington Management Group LLP increased its position in shares of NextEra Energy by 0.8% during the first quarter. Wellington Management Group LLP now owns 19,961,544 shares of the utilities provider’s stock valued at $2,562,463,000 after purchasing an additional 167,275 shares during the period. FMR LLC increased its position in shares of NextEra Energy by 0.4% during the first quarter. FMR LLC now owns 7,680,705 shares of the utilities provider’s stock valued at $985,973,000 after purchasing an additional 30,135 shares during the period. Geode Capital Management LLC increased its position in shares of NextEra Energy by 7.9% during the first quarter. Geode Capital Management LLC now owns 4,578,611 shares of the utilities provider’s stock valued at $586,925,000 after purchasing an additional 336,562 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of NextEra Energy by 11.3% during the first quarter. Alliancebernstein L.P. now owns 3,067,768 shares of the utilities provider’s stock valued at $393,809,000 after purchasing an additional 310,903 shares during the period. Institutional investors and hedge funds own 75.41% of the company’s stock.
A number of analysts have recently issued reports on the company. Goldman Sachs Group, Inc. (The) initiated coverage on NextEra Energy in a research report on Monday, July 24th. They set a “buy” rating and a $160.00 price objective on the stock. BidaskClub upgraded NextEra Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $147.00 price target (up from $144.00) on shares of NextEra Energy in a research report on Sunday, July 9th. Morgan Stanley upped their price target on NextEra Energy from $163.00 to $167.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $158.00 price target (up from $150.00) on shares of NextEra Energy in a research report on Monday, June 19th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. NextEra Energy presently has a consensus rating of “Buy” and a consensus target price of $153.09.
Shares of NextEra Energy, Inc. (NEE) opened at 147.47 on Monday. NextEra Energy, Inc. has a 12 month low of $110.49 and a 12 month high of $151.60. The firm has a 50-day moving average price of $148.73 and a 200-day moving average price of $141.14. The company has a market capitalization of $69.20 billion, a PE ratio of 16.89 and a beta of 0.31.
NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.76 by $0.10. NextEra Energy had a return on equity of 11.88% and a net margin of 24.26%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter last year, the company posted $1.67 EPS. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, equities research analysts predict that NextEra Energy, Inc. will post $6.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were paid a $0.9825 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $3.93 annualized dividend and a dividend yield of 2.66%. NextEra Energy’s payout ratio is 45.02%.
In other news, Director James L. Robo sold 30,000 shares of NextEra Energy 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Charles E. Sieving sold 30,485 shares of NextEra Energy stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $146.56, for a total value of $4,467,881.60. Following the completion of the transaction, the executive vice president now owns 78,167 shares in the company, valued at approximately $11,456,155.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,385 shares of company stock worth $9,314,382. Corporate insiders own 0.53% of the company’s stock.
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NextEra Energy 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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