World Asset Management Inc Trims Position in NextEra Energy, Inc. (NEE)
World Asset Management Inc reduced its position in NextEra Energy, Inc. (NYSE:NEE) by 12.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,338 shares of the utilities provider’s stock after selling 5,986 shares during the quarter. World Asset Management Inc’s holdings in NextEra Energy were worth $5,933,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in NextEra Energy by 8.9% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 871 shares of the utilities provider’s stock worth $112,000 after purchasing an additional 71 shares during the period. Ruggie Capital Group bought a new position in NextEra Energy in the first quarter worth $191,000. Winslow Evans & Crocker Inc. lifted its position in NextEra Energy by 12.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,395 shares of the utilities provider’s stock worth $195,000 after purchasing an additional 149 shares during the period. Oarsman Capital Inc. bought a new position in NextEra Energy in the first quarter worth $200,000. Finally, CCM Investment Advisers LLC bought a new position in NextEra Energy in the first quarter worth $200,000. 75.41% of the stock is owned by hedge funds and other institutional investors.
In related news, Director James L. Robo sold 30,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $147.05, for a total transaction of $4,411,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by corporate insiders.
A number of research analysts have issued reports on the company. Morgan Stanley lifted their price objective on NextEra Energy from $163.00 to $167.00 and gave the company an “overweight” rating in a report on Thursday, August 10th. Wells Fargo & Company reissued an “outperform” rating and set a $158.00 price objective (up from $150.00) on shares of NextEra Energy in a report on Monday, June 19th. BidaskClub cut NextEra Energy from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Royal Bank Of Canada reissued an “outperform” rating and set a $147.00 price objective (up from $144.00) on shares of NextEra Energy in a report on Sunday, July 9th. Finally, J P Morgan Chase & Co assumed coverage on NextEra Energy in a report on Thursday, September 7th. They set an “overweight” rating and a $173.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $151.15.
Shares of NextEra Energy, Inc. (NEE) opened at 148.30 on Tuesday. The stock has a 50 day moving average price of $148.91 and a 200-day moving average price of $139.59. The firm has a market capitalization of $69.59 billion, a price-to-earnings ratio of 16.99 and a beta of 0.33. NextEra Energy, Inc. has a 52 week low of $110.49 and a 52 week high of $151.60.
NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.10. NextEra Energy had a return on equity of 11.88% and a net margin of 24.26%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the prior year, the company earned $1.67 EPS. NextEra Energy’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities research analysts forecast that NextEra Energy, Inc. will post $6.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were given a dividend of $0.9825 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $3.93 annualized dividend and a dividend yield of 2.65%. NextEra Energy’s dividend payout ratio is currently 45.02%.
NextEra Energy Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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