FTB Advisors Inc. Decreases Position in NextEra Energy Inc. (NEE)
FTB Advisors Inc. lowered its position in shares of NextEra Energy Inc. (NYSE:NEE) by 25.1% during the second quarter, Holdings Channel reports. The fund owned 7,736 shares of the company’s stock after selling 2,586 shares during the period. FTB Advisors Inc.’s holdings in NextEra Energy were worth $1,007,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. raised its position in NextEra Energy by 378.8% in the second quarter. Riggs Asset Managment Co. Inc. now owns 948 shares of the company’s stock worth $124,000 after buying an additional 750 shares during the last quarter. Cribstone Capital Management LLC purchased a new position in NextEra Energy during the second quarter worth $149,000. Vigilant Capital Management LLC raised its position in NextEra Energy by 121.9% in the second quarter. Vigilant Capital Management LLC now owns 1,238 shares of the company’s stock worth $161,000 after buying an additional 680 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in NextEra Energy during the second quarter worth $176,000. Finally, Winslow Evans & Crocker Inc. raised its position in NextEra Energy by 9.2% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,376 shares of the company’s stock worth $179,000 after buying an additional 116 shares during the last quarter. 74.51% of the stock is currently owned by institutional investors.
NextEra Energy Inc. (NYSE:NEE) traded down 0.48% during trading on Friday, reaching $124.03. 1,384,514 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $123.19 and its 200-day moving average is $122.84. NextEra Energy Inc. has a 12-month low of $96.19 and a 12-month high of $131.98. The company has a market cap of $57.30 billion, a P/E ratio of 22.20 and a beta of 0.28.
NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.10. The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $4.33 billion. NextEra Energy had a net margin of 15.36% and a return on equity of 11.82%. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 EPS. Analysts predict that NextEra Energy Inc. will post $6.20 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 25th will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.81%. NextEra Energy’s payout ratio is presently 62.59%.
A number of research analysts recently weighed in on NEE shares. Mizuho reissued a “buy” rating and set a $138.00 price target on shares of NextEra Energy in a research report on Tuesday, August 30th. Morgan Stanley reaffirmed a “buy” rating on shares of NextEra Energy in a research report on Monday, August 1st. Deutsche Bank AG lowered their price objective on shares of NextEra Energy from $134.00 to $133.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. BMO Capital Markets reaffirmed a “buy” rating and issued a $135.00 price objective on shares of NextEra Energy in a research report on Thursday, July 28th. Finally, Zacks Investment Research raised shares of NextEra Energy from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $129.26.
In other news, VP Chris N. Froggatt sold 16,467 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $127.61, for a total transaction of $2,101,353.87. Following the sale, the vice president now owns 22,916 shares of the company’s stock, valued at approximately $2,924,310.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.
About NextEra Energy
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power company in North America with electric generating facilities located in over 30 states in the United States and approximately five provinces in Canada. NEE’s operating segments are FPL, an electric utility, and NEER, an energy business.
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).
Receive News & Ratings for NextEra Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextEra Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.