Chemung Canal Trust Co. Has $440,000 Position in NextEra Energy Inc. (NEE)
Chemung Canal Trust Co. cut its stake in NextEra Energy Inc. (NYSE:NEE) by 2.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,378 shares of the company’s stock after selling 80 shares during the period. Chemung Canal Trust Co.’s holdings in NextEra Energy were worth $440,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of NextEra Energy by 14.6% in the first quarter. Wellington Management Group LLP now owns 19,485,140 shares of the company’s stock valued at $2,305,872,000 after buying an additional 2,480,652 shares during the last quarter. Sarasin & Partners LLP bought a new stake in NextEra Energy during the second quarter valued at approximately $79,605,000. Bank of Montreal Can bought a new stake in NextEra Energy during the second quarter valued at approximately $60,898,000. Renaissance Technologies LLC boosted its stake in NextEra Energy by 60.1% in the first quarter. Renaissance Technologies LLC now owns 1,155,000 shares of the company’s stock valued at $136,683,000 after buying an additional 433,700 shares in the last quarter. Finally, Hexavest Inc. boosted its stake in NextEra Energy by 149.6% in the second quarter. Hexavest Inc. now owns 394,235 shares of the company’s stock valued at $51,408,000 after buying an additional 236,268 shares in the last quarter. Institutional investors own 74.49% of the company’s stock.
NextEra Energy Inc. (NYSE:NEE) traded down 0.2817% during midday trading on Wednesday, reaching $124.7576. 960,135 shares of the company’s stock were exchanged. NextEra Energy Inc. has a 12 month low of $96.19 and a 12 month high of $131.98. The company has a 50 day moving average price of $123.34 and a 200 day moving average price of $122.99. The company has a market cap of $57.63 billion, a P/E ratio of 22.3260 and a beta of 0.28.
NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. NextEra Energy had a return on equity of 11.82% and a net margin of 15.36%. The firm earned $3.82 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the prior year, the firm posted $1.56 EPS. The business’s revenue was down 12.4% on a year-over-year basis. On average, equities analysts anticipate that NextEra Energy Inc. will post $6.20 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 25th will be paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Tuesday, November 22nd. NextEra Energy’s dividend payout ratio is currently 62.59%.
Several analysts recently commented on the stock. Mizuho restated a “buy” rating and set a $138.00 price target on shares of NextEra Energy in a report on Friday, October 7th. Bank of America Corp. restated a “buy” rating and set a $149.00 price target on shares of NextEra Energy in a report on Tuesday, September 27th. Deutsche Bank AG cut shares of NextEra Energy from a “buy” rating to a “hold” rating and set a $131.00 price target for the company. in a report on Friday, September 23rd. Morgan Stanley restated a “buy” rating on shares of NextEra Energy in a report on Monday, August 1st. Finally, BMO Capital Markets restated a “buy” rating and set a $135.00 price target on shares of NextEra Energy in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company 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 company’s stock in a transaction that occurred on Friday, July 29th. The stock was 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 in the company, valued at approximately $2,924,310.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.