NextEra Energy, Inc. $NEE Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lessened its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,972,897 shares of the utilities provider’s stock after selling 16,797 shares during the period. NextEra Energy accounts for approximately 0.8% of DAVENPORT & Co LLC’s investment portfolio, making the stock its 27th biggest position. DAVENPORT & Co LLC’s holdings in NextEra Energy were worth $149,324,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Activest Wealth Management raised its holdings in shares of NextEra Energy by 79.7% during 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. purchased a new stake in shares of NextEra Energy during the second quarter worth approximately $25,000. Goodman Advisory Group LLC acquired a new position in NextEra Energy in the 2nd quarter valued at $25,000. 1 North Wealth Services LLC acquired a new position in NextEra Energy in the 1st quarter valued at $26,000. Finally, Quaker Wealth Management LLC lifted its holdings in NextEra Energy by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 386 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 772 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NextEra Energy

In related news, EVP Charles E. Sieving sold 11,336 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $80.00, for a total transaction of $906,880.00. Following the completion of the sale, the executive vice president directly owned 167,481 shares of the company’s stock, valued at approximately $13,398,480. This trade represents a 6.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Armando Pimentel, Jr. sold 145,140 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were 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. This trade represents a 47.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 157,322 shares of company stock worth $13,148,943. 0.18% of the stock is currently owned by company insiders.

NextEra Energy Stock Performance

NYSE:NEE opened at $79.80 on Wednesday. The company’s 50-day moving average is $83.25 and its two-hundred day moving average is $77.16. 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. The firm has a market capitalization of $166.19 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.69 and a beta of 0.74.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.04 by $0.09. NextEra Energy had a net margin of 24.72% and a return on equity of 12.42%. The firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the previous year, the company earned $1.03 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 21st were paid 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 was Friday, November 21st. NextEra Energy’s dividend payout ratio is 71.97%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NEE shares. JPMorgan Chase & Co. upped their target price on shares of NextEra Energy from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, December 11th. BTIG Research reaffirmed a “buy” rating and set a $100.00 price objective on shares of NextEra Energy in a research note on Tuesday, December 9th. Evercore ISI reiterated an “outperform” rating and issued a $93.00 price objective on shares of NextEra Energy in a report on Tuesday, October 28th. New Street Research set a $84.00 target price on NextEra Energy in a report on Monday, October 13th. Finally, Mizuho upped their price target on NextEra Energy from $78.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, October 27th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, NextEra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.56.

NextEra Energy 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.