NextEra Energy, Inc. $NEE Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lowered its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 37.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 328,669 shares of the utilities provider’s stock after selling 193,217 shares during the quarter. Bank of Nova Scotia’s holdings in NextEra Energy were worth $22,816,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management increased its holdings in NextEra Energy by 79.7% during the 2nd quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 157 shares during the period. Harbor Asset Planning Inc. acquired a new position in shares of NextEra Energy during the second quarter worth about $25,000. 1 North Wealth Services LLC purchased a new stake in shares of NextEra Energy during the first quarter worth approximately $26,000. Quaker Wealth Management LLC raised its holdings in NextEra Energy by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 386 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 772 shares in the last quarter. Finally, Nova Wealth Management Inc. purchased a new position in NextEra Energy in the first quarter worth approximately $32,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Stock Performance

NYSE NEE opened at $79.53 on Wednesday. The company has a fifty day moving average of $83.53 and a two-hundred day moving average of $76.38. The company has a market capitalization of $165.63 billion, a PE ratio of 25.33, a P/E/G ratio of 2.71 and a beta of 0.74. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $87.53. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.55 and a quick ratio of 0.45.

NextEra Energy (NYSE:NEE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.09. The business had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $8.13 billion. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 EPS. As a group, analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 21st will be issued a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. NextEra Energy’s dividend payout ratio is presently 72.29%.

Insider Transactions at NextEra Energy

In other news, EVP Charles E. Sieving sold 11,336 shares of NextEra Energy stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total value of $906,880.00. Following the transaction, the executive vice president directly owned 167,481 shares of the company’s stock, valued at $13,398,480. The trade was a 6.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Lemasney sold 846 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the sale, the executive vice president owned 9,267 shares of the company’s stock, valued at approximately $694,098.30. This trade represents a 8.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 158,168 shares of company stock worth $13,209,770. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on NEE shares. Morgan Stanley lowered their price target on shares of NextEra Energy from $98.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, November 20th. Wolfe Research increased their target price on NextEra Energy from $87.00 to $94.00 and gave the company an “outperform” rating in a report on Monday, December 1st. Argus set a $90.00 price target on NextEra Energy in a research note on Wednesday, October 29th. Melius assumed coverage on NextEra Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $77.00 price target for the company. Finally, Cowen assumed coverage on NextEra Energy in a report on Wednesday, October 15th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $91.11.

About NextEra Energy

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.