Bessemer Group Inc. Sells 344,443 Shares of NextEra Energy, Inc. $NEE

Bessemer Group Inc. lessened its holdings in NextEra Energy, Inc. (NYSE:NEE) by 3.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,831,711 shares of the utilities provider’s stock after selling 344,443 shares during the quarter. NextEra Energy accounts for approximately 1.0% of Bessemer Group Inc.’s investment portfolio, making the stock its 15th biggest position. Bessemer Group Inc.’s holdings in NextEra Energy were worth $613,098,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NEE. Activest Wealth Management grew its position in NextEra Energy by 79.7% in the second quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 157 shares during the last quarter. Harbor Asset Planning Inc. bought a new position in NextEra Energy in the second quarter valued at about $25,000. 1 North Wealth Services LLC bought a new position in NextEra Energy in the first quarter valued at about $26,000. Nova Wealth Management Inc. bought a new position in NextEra Energy in the first quarter valued at about $32,000. Finally, IMA Advisory Services Inc. bought a new position in NextEra Energy in the first quarter valued at about $35,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

Insider Activity at NextEra Energy

In related news, EVP Charles E. Sieving sold 11,336 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $80.00, for a total value of $906,880.00. Following the sale, the executive vice president directly owned 167,481 shares in the company, valued at $13,398,480. This represents a 6.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael Dunne sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $70.79, for a total value of $707,900.00. Following the completion of the sale, the executive vice president owned 62,064 shares in the company, valued at $4,393,510.56. The trade was a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,028 shares of company stock worth $1,738,973 over the last ninety days. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Morgan Stanley reiterated an “overweight” rating and issued a $95.00 target price (down previously from $96.00) on shares of NextEra Energy in a research report on Thursday, September 25th. Cowen assumed coverage on NextEra Energy in a research report on Wednesday, October 15th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. lifted their target price on NextEra Energy from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. HSBC decreased their target price on NextEra Energy from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, July 11th. Finally, TD Cowen started coverage on NextEra Energy in a research report on Thursday, October 16th. They issued a “buy” rating and a $98.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.38.

NextEra Energy Stock Performance

NYSE:NEE opened at $84.42 on Monday. The stock has a market cap of $173.85 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 2.85 and a beta of 0.66. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. The stock’s 50-day moving average is $76.64 and its 200-day moving average is $72.88. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.74.

NextEra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be issued a $0.5665 dividend. The ex-dividend date is Friday, November 21st. This represents a $2.27 annualized dividend and a yield of 2.7%. NextEra Energy’s dividend payout ratio is presently 79.37%.

NextEra Energy 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,natural gas, and other clean energy. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.