Novare Capital Management LLC Sells 1,636 Shares of NextEra Energy, Inc. (NEE)
Novare Capital Management LLC cut its position in NextEra Energy, Inc. (NYSE:NEE) by 5.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,114 shares of the utilities provider’s stock after selling 1,636 shares during the quarter. Novare Capital Management LLC’s holdings in NextEra Energy were worth $3,940,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in NEE. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings 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 in the last quarter. Ruggie Capital Group bought a new position in NextEra Energy in the first quarter worth about $191,000. Winslow Evans & Crocker Inc. raised its holdings 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 in the last quarter. Oarsman Capital Inc. bought a new position in NextEra Energy in the first quarter worth about $200,000. Finally, CCM Investment Advisers LLC bought a new position in NextEra Energy in the first quarter worth about $200,000. Institutional investors and hedge funds own 75.41% of the company’s stock.
Several research firms have recently issued reports on NEE. BidaskClub upgraded shares of NextEra Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Morgan Stanley upped their price objective on shares of NextEra Energy from $163.00 to $167.00 and gave the company an “overweight” rating in a report on Thursday, August 10th. Royal Bank Of Canada restated an “outperform” rating and set a $147.00 price objective (up previously from $144.00) on shares of NextEra Energy in a report on Sunday, July 9th. Wells Fargo & Company restated an “outperform” rating and set a $158.00 price objective (up previously from $150.00) on shares of NextEra Energy in a report on Monday, June 19th. Finally, Zacks Investment Research downgraded shares of NextEra Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $151.15.
Shares of NextEra Energy, Inc. (NEE) opened at 146.78 on Friday. The company has a 50-day moving average price of $148.97 and a 200-day moving average price of $139.72. NextEra Energy, Inc. has a 12 month low of $110.49 and a 12 month high of $151.60. The stock has a market cap of $68.87 billion, a price-to-earnings ratio of 16.81 and a beta of 0.33.
NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.86 EPS for the quarter, topping the consensus estimate of $1.76 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.44 billion. NextEra Energy had a return on equity of 11.88% and a net margin of 24.26%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 earnings per share. On average, analysts expect that NextEra Energy, Inc. will post $6.73 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were given a dividend of $0.9825 per share. This represents a $3.93 annualized dividend and a yield of 2.68%. The ex-dividend date was Wednesday, August 23rd. NextEra Energy’s dividend payout ratio (DPR) is 45.02%.
In other NextEra Energy news, EVP John W. Ketchum sold 2,900 shares of NextEra Energy stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $150.00, for a total transaction of $435,000.00. Following the transaction, the executive vice president now owns 18,786 shares of the company’s stock, valued at $2,817,900. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James L. Robo sold 30,000 shares of NextEra Energy stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $147.05, for a total value of $4,411,500.00. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.
NextEra Energy Company 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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