Motco Lowers Holdings in NextEra Energy Inc (NEE)
Motco decreased its position in NextEra Energy Inc (NYSE:NEE) by 96.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 936 shares of the utilities provider’s stock after selling 26,236 shares during the period. Motco’s holdings in NextEra Energy were worth $137,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of NEE. Ngam Advisors L.P. lifted its position in NextEra Energy by 13.0% during the first quarter. Ngam Advisors L.P. now owns 57,851 shares of the utilities provider’s stock worth $7,427,000 after buying an additional 6,664 shares during the period. Trustmark National Bank Trust Department lifted its position in NextEra Energy by 47.8% during the first quarter. Trustmark National Bank Trust Department now owns 5,565 shares of the utilities provider’s stock worth $715,000 after buying an additional 1,800 shares during the period. L & S Advisors Inc purchased a new position in NextEra Energy during the first quarter worth about $2,890,000. Marco Investment Management LLC purchased a new position in NextEra Energy during the first quarter worth about $220,000. Finally, Princeton Portfolio Strategies Group LLC lifted its position in NextEra Energy by 11.0% during the first quarter. Princeton Portfolio Strategies Group LLC now owns 30,066 shares of the utilities provider’s stock worth $3,860,000 after buying an additional 2,986 shares during the period. 75.63% of the stock is currently owned by institutional investors.
NEE has been the topic of several recent analyst reports. KeyCorp reiterated a “buy” rating and set a $155.00 target price on shares of NextEra Energy in a research report on Friday, September 1st. Morgan Stanley increased their target price on NextEra Energy from $167.00 to $169.00 and gave the stock an “overweight” rating in a research report on Friday, September 8th. Zacks Investment Research downgraded NextEra Energy from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Argus reiterated a “buy” rating and set a $173.00 target price on shares of NextEra Energy in a research report on Tuesday, December 5th. They noted that the move was a valuation call. Finally, J P Morgan Chase & Co initiated coverage on NextEra Energy in a research report on Thursday, September 7th. They set an “overweight” rating and a $173.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $158.60.
NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.08. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.89 billion. NextEra Energy had a return on equity of 11.86% and a net margin of 24.81%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the business posted $1.74 EPS. analysts expect that NextEra Energy Inc will post 6.73 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be issued a $0.9825 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $3.93 dividend on an annualized basis and a dividend yield of 2.47%. NextEra Energy’s dividend payout ratio (DPR) is 44.16%.
In other news, EVP Charles E. Sieving sold 30,485 shares of the firm’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $146.56, for a total value of $4,467,881.60. Following the transaction, the executive vice president now directly owns 78,167 shares in the company, valued at approximately $11,456,155.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Armando Pimentel, Jr. sold 42,372 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $157.45, for a total value of $6,671,471.40. Following the completion of the transaction, the chief executive officer now owns 121,958 shares in the company, valued at $19,202,287.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 107,757 shares of company stock worth $16,419,953. Company insiders own 0.53% of the company’s stock.
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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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