NextEra Energy Inc (NEE) Stake Boosted by Sound Income Strategies LLC
Sound Income Strategies LLC raised its holdings in shares of NextEra Energy Inc (NYSE:NEE) by 340.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 776 shares of the utilities provider’s stock after purchasing an additional 600 shares during the period. Sound Income Strategies LLC’s holdings in NextEra Energy were worth $135,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Cullinan Associates Inc. increased its position in shares of NextEra Energy by 10.2% during the fourth quarter. Cullinan Associates Inc. now owns 28,410 shares of the utilities provider’s stock worth $4,938,000 after purchasing an additional 2,625 shares in the last quarter. New England Research & Management Inc. grew its holdings in shares of NextEra Energy by 42.9% during the fourth quarter. New England Research & Management Inc. now owns 2,000 shares of the utilities provider’s stock valued at $348,000 after buying an additional 600 shares during the last quarter. Carroll Financial Associates Inc. grew its holdings in shares of NextEra Energy by 20.3% during the fourth quarter. Carroll Financial Associates Inc. now owns 3,304 shares of the utilities provider’s stock valued at $569,000 after buying an additional 557 shares during the last quarter. Hexavest Inc. purchased a new stake in shares of NextEra Energy during the fourth quarter valued at $68,255,000. Finally, State of Alaska Department of Revenue grew its holdings in shares of NextEra Energy by 3.5% during the fourth quarter. State of Alaska Department of Revenue now owns 124,264 shares of the utilities provider’s stock valued at $21,597,000 after buying an additional 4,149 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.
NYSE:NEE traded down $0.54 during mid-day trading on Friday, hitting $174.85. The company’s stock had a trading volume of 73,161 shares, compared to its average volume of 2,423,202. NextEra Energy Inc has a 1 year low of $145.10 and a 1 year high of $184.20. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.57 and a current ratio of 0.65. The firm has a market cap of $82.58 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 2.38 and a beta of 0.22.
In other news, CEO Armando Pimentel, Jr. sold 4,920 shares of the stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $170.11, for a total transaction of $836,941.20. Following the sale, the chief executive officer now directly owns 59,969 shares of the company’s stock, valued at approximately $10,201,326.59. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Rudy E. Schupp sold 1,600 shares of the stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $170.23, for a total transaction of $272,368.00. Following the sale, the director now directly owns 20,100 shares in the company, valued at $3,421,623. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,598 shares of company stock worth $14,306,013. 0.55% of the stock is owned by corporate insiders.
NEE has been the topic of a number of research analyst reports. Credit Suisse Group dropped their price objective on shares of NextEra Energy from $185.00 to $173.00 and set an “outperform” rating on the stock in a report on Wednesday, October 24th. Guggenheim reissued a “buy” rating and set a $205.00 price objective on shares of NextEra Energy in a report on Monday. Zacks Investment Research lowered shares of NextEra Energy from a “buy” rating to a “hold” rating in a report on Tuesday, December 18th. Argus boosted their price objective on shares of NextEra Energy from $184.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, October 31st. Finally, Royal Bank of Canada boosted their price objective on shares of NextEra Energy to $186.00 and gave the company an “outperform” rating in a report on Thursday, November 1st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $179.15.
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NextEra Energy Company Profile
NextEra Energy, Inc, through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.
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