DNB Asset Management AS trimmed its position in NextEra Energy Inc (NYSE:NEE) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,104 shares of the utilities provider’s stock after selling 4,367 shares during the quarter. DNB Asset Management AS’s holdings in NextEra Energy were worth $13,132,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of NEE. Norges Bank purchased a new stake in shares of NextEra Energy in the 4th quarter worth $1,172,014,000. GQG Partners LLC purchased a new stake in shares of NextEra Energy in the 4th quarter worth $264,629,000. Geode Capital Management LLC lifted its holdings in shares of NextEra Energy by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 5,895,218 shares of the utilities provider’s stock worth $1,022,831,000 after buying an additional 507,960 shares during the period. California Public Employees Retirement System lifted its stake in shares of NextEra Energy by 20.1% during the 1st quarter. California Public Employees Retirement System now owns 2,886,266 shares of the utilities provider’s stock worth $557,973,000 after purchasing an additional 483,263 shares during the last quarter. Finally, Pictet Asset Management Ltd. lifted its stake in shares of NextEra Energy by 23.6% during the 1st quarter. Pictet Asset Management Ltd. now owns 2,021,758 shares of the utilities provider’s stock worth $390,846,000 after purchasing an additional 385,763 shares during the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.
Shares of NYSE NEE traded down $2.06 during mid-day trading on Tuesday, reaching $207.30. 1,455,183 shares of the company were exchanged, compared to its average volume of 1,940,537. The business has a 50-day simple moving average of $206.80. The company has a current ratio of 0.46, a quick ratio of 0.38 and a debt-to-equity ratio of 0.79. NextEra Energy Inc has a 1 year low of $164.25 and a 1 year high of $212.50. The firm has a market capitalization of $99.59 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 3.11 and a beta of 0.26.
NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.19. NextEra Energy had a return on equity of 10.26% and a net margin of 17.13%. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same period last year, the business posted $1.94 earnings per share. Analysts anticipate that NextEra Energy Inc will post 8.42 earnings per share for the current year.
In other NextEra Energy news, EVP Joseph T. Kelliher sold 5,741 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $207.26, for a total value of $1,189,879.66. Following the completion of the sale, the executive vice president now directly owns 37,235 shares in the company, valued at $7,717,326.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Rudy E. Schupp sold 1,600 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $202.90, for a total value of $324,640.00. Following the completion of the sale, the director now owns 18,315 shares of the company’s stock, valued at $3,716,113.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,216 shares of company stock valued at $21,354,766. 0.48% of the stock is currently owned by company insiders.
A number of equities research analysts recently weighed in on NEE shares. Credit Suisse Group set a $199.00 price objective on NextEra Energy and gave the stock a “buy” rating in a research note on Monday, April 22nd. Wells Fargo & Co upped their price objective on Twitter from $33.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 24th. Bank of America restated an “underperform” rating and set a $1.25 price objective (down from $4.50) on shares of Superior Energy Services in a research note on Tuesday, June 25th. KeyCorp started coverage on Southern in a research note on Tuesday, June 4th. They set a “sector weight” rating for the company. Finally, Guggenheim decreased their price objective on Kroger from $31.00 to $26.00 in a research note on Monday, June 24th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $208.14.
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.
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