Shell Asset Management Co. Trims Stake in NextEra Energy Inc (NYSE:NEE)

Shell Asset Management Co. lowered its stake in shares of NextEra Energy Inc (NYSE:NEE) by 7.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,993 shares of the utilities provider’s stock after selling 4,615 shares during the quarter. Shell Asset Management Co.’s holdings in NextEra Energy were worth $14,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Firestone Capital Management purchased a new stake in NextEra Energy in the fourth quarter worth about $2,069,000. Lionsbridge Wealth Management LLC purchased a new stake in shares of NextEra Energy in the fourth quarter worth $25,000. Lion Street Advisors LLC purchased a new stake in shares of NextEra Energy in the first quarter worth $26,000. Bay Harbor Wealth Management LLC increased its stake in shares of NextEra Energy by 1,687.5% in the fourth quarter. Bay Harbor Wealth Management LLC now owns 143 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 135 shares in the last quarter. Finally, Stonebridge Financial Planning Group LLC purchased a new stake in shares of NextEra Energy in the fourth quarter worth $36,000. Institutional investors own 77.30% of the company’s stock.

NEE traded up $2.13 on Friday, reaching $231.03. 77,636 shares of the company traded hands, compared to its average volume of 2,508,130. NextEra Energy Inc has a one year low of $174.80 and a one year high of $283.35. The firm has a fifty day simple moving average of $233.89 and a two-hundred day simple moving average of $242.10. The company has a market cap of $113.94 billion, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 3.33 and a beta of 0.20. The company has a quick ratio of 0.61, a current ratio of 0.71 and a debt-to-equity ratio of 1.01.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Wednesday, April 22nd. The utilities provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.12. NextEra Energy had a net margin of 17.77% and a return on equity of 10.38%. The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.88 billion. During the same quarter last year, the business posted $2.20 EPS. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, equities analysts forecast that NextEra Energy Inc will post 9.05 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Tuesday, June 2nd will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.42%. NextEra Energy’s payout ratio is 66.91%.

Several research firms have commented on NEE. Zacks Investment Research lowered shares of NextEra Energy from a “buy” rating to a “hold” rating and set a $282.00 price objective for the company. in a research report on Wednesday, January 29th. Barclays lowered their price objective on shares of NextEra Energy from $269.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, March 26th. UBS Group lowered their price objective on shares of NextEra Energy from $310.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Vertical Research began coverage on shares of NextEra Energy in a research report on Monday, February 24th. They set a “sell” rating for the company. Finally, BMO Capital Markets initiated coverage on shares of NextEra Energy in a research report on Wednesday, February 19th. They set an “outperform” rating and a $290.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. NextEra Energy has an average rating of “Buy” and an average price target of $251.07.

In other NextEra Energy news, Director James Lawrence Camaren bought 1,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were acquired at an average price of $212.40 per share, with a total value of $212,400.00. Following the transaction, the director now owns 35,330 shares of the company’s stock, valued at approximately $7,504,092. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Miguel Arechabala sold 3,741 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $225.00, for a total transaction of $841,725.00. Following the transaction, the executive vice president now directly owns 5,953 shares in the company, valued at approximately $1,339,425. The disclosure for this sale can be found here. Insiders have sold a total of 90,639 shares of company stock valued at $20,863,319 in the last quarter. 0.40% of the stock is currently owned by company insiders.

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.

See Also: Dead Cat Bounce

Want to see what other hedge funds are holding NEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NextEra Energy Inc (NYSE:NEE).

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

Receive News & Ratings for NextEra Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextEra Energy and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit