Varma Mutual Pension Insurance Co Raises Stock Holdings in NextEra Energy, Inc. $NEE

Varma Mutual Pension Insurance Co lifted its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 5.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 326,193 shares of the utilities provider’s stock after acquiring an additional 15,600 shares during the period. Varma Mutual Pension Insurance Co’s holdings in NextEra Energy were worth $24,624,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of NextEra Energy by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 212,877,021 shares of the utilities provider’s stock worth $14,777,923,000 after purchasing an additional 5,554,603 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of NextEra Energy by 1.2% during the second quarter. Geode Capital Management LLC now owns 45,724,229 shares of the utilities provider’s stock valued at $3,161,774,000 after buying an additional 526,996 shares during the period. Norges Bank purchased a new position in shares of NextEra Energy during the second quarter valued at approximately $2,375,545,000. Charles Schwab Investment Management Inc. boosted its position in NextEra Energy by 2.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 16,786,728 shares of the utilities provider’s stock worth $1,165,896,000 after acquiring an additional 340,315 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in NextEra Energy by 2.6% during the second quarter. Legal & General Group Plc now owns 16,414,103 shares of the utilities provider’s stock worth $1,139,467,000 after acquiring an additional 408,198 shares during the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Trading Up 0.7%

NEE stock opened at $91.44 on Thursday. The company has a market cap of $190.43 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 2.81 and a beta of 0.76. The company has a quick ratio of 0.49, a current ratio of 0.60 and a debt-to-equity ratio of 1.35. The business has a fifty day simple moving average of $83.23 and a 200-day simple moving average of $79.89. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $91.96.

NextEra Energy (NYSE:NEE) last issued its earnings results on Tuesday, January 27th. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. NextEra Energy had a return on equity of 12.18% and a net margin of 24.93%.The firm had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities research analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current year.

Wall Street Analyst Weigh In

NEE has been the subject of several analyst reports. The Goldman Sachs Group boosted their price target on NextEra Energy from $94.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $104.00 price objective on shares of NextEra Energy in a research report on Wednesday, January 21st. Evercore reiterated an “outperform” rating and issued a $93.00 target price on shares of NextEra Energy in a research note on Tuesday, October 28th. Jefferies Financial Group set a $87.00 target price on NextEra Energy in a research report on Wednesday, January 14th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of NextEra Energy in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $92.95.

Insider Transactions at NextEra Energy

In other news, CEO Armando Pimentel, Jr. sold 145,140 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $83.91, for a total transaction of $12,178,697.40. Following the completion of the sale, the chief executive officer owned 162,693 shares in the company, valued at approximately $13,651,569.63. The trade was a 47.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ronald R. Reagan sold 18,620 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $90.00, for a total transaction of $1,675,800.00. Following the sale, the executive vice president directly owned 9,643 shares of the company’s stock, valued at approximately $867,870. This trade represents a 65.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 304,189 shares of company stock valued at $26,373,239. 0.20% of the stock is currently owned by company insiders.

NextEra Energy Company Profile

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.