Formidable Asset Management LLC Decreases Holdings in NextEra Energy, Inc. (NEE)

Formidable Asset Management LLC lowered its position in NextEra Energy, Inc. (NYSE:NEE) by 4.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,527 shares of the utilities provider’s stock after selling 76 shares during the period. Formidable Asset Management LLC’s holdings in NextEra Energy were worth $214,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in NextEra Energy by 0.6% in the 2nd quarter. BlackRock Inc. now owns 38,051,440 shares of the utilities provider’s stock valued at $5,332,149,000 after purchasing an additional 217,972 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of NextEra Energy by 0.8% during the 1st quarter. Wellington Management Group LLP now owns 19,961,544 shares of the utilities provider’s stock worth $2,562,463,000 after acquiring an additional 167,275 shares during the period. FMR LLC raised its holdings in shares of NextEra Energy by 0.4% during the 1st quarter. FMR LLC now owns 7,680,705 shares of the utilities provider’s stock worth $985,973,000 after acquiring an additional 30,135 shares during the period. Geode Capital Management LLC raised its holdings in shares of NextEra Energy by 7.9% during the 1st quarter. Geode Capital Management LLC now owns 4,578,611 shares of the utilities provider’s stock worth $586,925,000 after acquiring an additional 336,562 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of NextEra Energy by 11.3% during the 1st quarter. Alliancebernstein L.P. now owns 3,067,768 shares of the utilities provider’s stock worth $393,809,000 after acquiring an additional 310,903 shares during the period. Institutional investors own 75.30% of the company’s stock.

Shares of NextEra Energy, Inc. (NEE) opened at 155.84 on Monday. The stock has a market capitalization of $73.13 billion, a price-to-earnings ratio of 17.85 and a beta of 0.31. The company has a 50-day moving average of $149.69 and a 200 day moving average of $143.49. NextEra Energy, Inc. has a one year low of $110.49 and a one year high of $156.80.

NextEra Energy (NYSE:NEE) last released its earnings results on Thursday, October 26th. The utilities provider reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.08. NextEra Energy had a return on equity of 11.86% and a net margin of 24.81%. The firm had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the business posted $1.74 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Equities research analysts forecast that NextEra Energy, Inc. will post $6.76 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be given a dividend of $0.9825 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $3.93 annualized dividend and a yield of 2.52%. NextEra Energy’s dividend payout ratio (DPR) is presently 44.16%.

Several research analysts have recently commented on the company. BidaskClub upgraded NextEra Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Morgan Stanley lifted their price target on NextEra Energy from $163.00 to $167.00 and gave the stock an “overweight” rating in a report on Thursday, August 10th. Bank of America Corporation assumed coverage on NextEra Energy in a report on Tuesday, October 24th. They set a “buy” rating and a $166.00 price target on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $147.00 price target (up previously from $144.00) on shares of NextEra Energy in a report on Sunday, July 9th. Finally, Zacks Investment Research lowered NextEra Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. NextEra Energy has an average rating of “Buy” and a consensus target price of $154.69.

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In related news, Director James L. Robo sold 30,000 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $147.05, for a total transaction of $4,411,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John W. Ketchum sold 2,900 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $150.00, for a total value of $435,000.00. Following the transaction, the executive vice president now owns 18,786 shares in the company, valued at $2,817,900. The disclosure for this sale can be found here. Insiders have sold 65,385 shares of company stock worth $9,614,382 over the last quarter. 0.53% of the stock is currently owned by company insiders.

NextEra Energy Company 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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Institutional Ownership by Quarter for NextEra Energy (NYSE:NEE)

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