NextEra Energy Inc (NEE) Position Lessened by Channing Capital Management LLC
Channing Capital Management LLC decreased its position in shares of NextEra Energy Inc (NYSE:NEE) by 24.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 18,028 shares of the utilities provider’s stock after selling 5,721 shares during the period. Channing Capital Management LLC’s holdings in NextEra Energy were worth $2,642,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Andra AP fonden raised its stake in NextEra Energy by 6.5% during the third quarter. Andra AP fonden now owns 127,900 shares of the utilities provider’s stock worth $18,744,000 after purchasing an additional 7,800 shares during the period. Middleton & Co Inc MA raised its stake in NextEra Energy by 7.4% during the third quarter. Middleton & Co Inc MA now owns 6,110 shares of the utilities provider’s stock worth $895,000 after purchasing an additional 421 shares during the period. Cidel Asset Management Inc. raised its stake in NextEra Energy by 2.8% during the third quarter. Cidel Asset Management Inc. now owns 164,154 shares of the utilities provider’s stock worth $24,057,000 after purchasing an additional 4,428 shares during the period. Berkshire Asset Management LLC PA raised its stake in NextEra Energy by 36.0% during the third quarter. Berkshire Asset Management LLC PA now owns 2,767 shares of the utilities provider’s stock worth $406,000 after purchasing an additional 732 shares during the period. Finally, Summit Securities Group LLC purchased a new position in NextEra Energy during the third quarter worth approximately $264,000. 75.63% of the stock is currently owned by institutional investors and hedge funds.
NEE has been the topic of a number of recent analyst reports. KeyCorp reaffirmed a “buy” rating and set a $155.00 price target on shares of NextEra Energy in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of NextEra Energy from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. Morgan Stanley increased their price target on shares of NextEra Energy from $167.00 to $169.00 and gave the stock an “overweight” rating in a research note on Friday, September 8th. Bank of America initiated coverage on shares of NextEra Energy in a research note on Tuesday, October 24th. They set a “buy” rating and a $166.00 price target on the stock. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $156.00 price target on shares of NextEra Energy in a research note on Tuesday, November 7th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $155.38.
In related news, Director James L. Robo sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $151.52, for a total transaction of $4,545,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles E. Sieving sold 30,485 shares of the firm’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $146.56, for a total transaction of $4,467,881.60. Following the sale, the executive vice president now directly owns 78,167 shares of the company’s stock, valued at $11,456,155.52. The disclosure for this sale can be found here. Insiders sold 65,385 shares of company stock valued at $9,748,482 in the last three months. Company insiders own 0.53% of the company’s stock.
NextEra Energy Inc (NYSE NEE) traded down $0.57 during trading on Friday, hitting $157.47. 1,428,100 shares of the stock traded hands, compared to its average volume of 1,541,363. NextEra Energy Inc has a 52 week low of $113.18 and a 52 week high of $159.28. The firm has a market capitalization of $74,341.63, a price-to-earnings ratio of 23.69, a P/E/G ratio of 3.15 and a beta of 0.31. The company has a quick ratio of 0.49, a current ratio of 0.61 and a debt-to-equity ratio of 1.11.
NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.08. NextEra Energy had a net margin of 24.81% and a return on equity of 11.86%. The company had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the business earned $1.74 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. sell-side analysts forecast that NextEra Energy Inc will post 6.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be given a $0.9825 dividend. This represents a $3.93 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Wednesday, November 22nd. NextEra Energy’s payout ratio is currently 44.16%.
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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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