Harvest Capital Management Inc Reduces Position in NextEra Energy Inc (NEE)
Harvest Capital Management Inc trimmed its position in shares of NextEra Energy Inc (NYSE:NEE) by 9.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,422 shares of the utilities provider’s stock after selling 483 shares during the quarter. Harvest Capital Management Inc’s holdings in NextEra Energy were worth $691,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of NEE. Bogart Wealth LLC grew its holdings in NextEra Energy by 331.7% in the 4th quarter. Bogart Wealth LLC now owns 2,642 shares of the utilities provider’s stock valued at $413,000 after buying an additional 2,030 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in NextEra Energy by 22.4% in the 4th quarter. First Citizens Bank & Trust Co. now owns 18,777 shares of the utilities provider’s stock valued at $2,932,000 after buying an additional 3,435 shares in the last quarter. Bath Savings Trust Co grew its holdings in NextEra Energy by 1.2% in the 4th quarter. Bath Savings Trust Co now owns 47,616 shares of the utilities provider’s stock valued at $7,437,000 after buying an additional 585 shares in the last quarter. Tandem Investment Advisors Inc. grew its holdings in NextEra Energy by 4.9% in the 4th quarter. Tandem Investment Advisors Inc. now owns 34,491 shares of the utilities provider’s stock valued at $5,387,000 after buying an additional 1,607 shares in the last quarter. Finally, Carlson Capital Management purchased a new stake in NextEra Energy in the 4th quarter valued at $209,000. Hedge funds and other institutional investors own 75.39% of the company’s stock.
In related news, Director James L. Robo sold 30,000 shares of the stock in a transaction dated Thursday, November 2nd. The stock was 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 SEC, which is accessible through this hyperlink. Also, CEO Armando Pimentel, Jr. sold 42,372 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $157.45, for a total value of $6,671,471.40. Following the transaction, the chief executive officer now directly owns 121,958 shares in the company, valued at approximately $19,202,287.10. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.
NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.08. NextEra Energy had a return on equity of 11.86% and a net margin of 24.81%. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the company posted $1.74 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. sell-side analysts expect that NextEra Energy Inc will post 6.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 24th were paid a $0.9825 dividend. This represents a $3.93 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Wednesday, November 22nd. NextEra Energy’s dividend payout ratio (DPR) is presently 44.16%.
Several analysts have issued reports on NEE shares. Zacks Investment Research cut NextEra Energy from a “buy” rating to a “hold” rating in a report on Friday, October 13th. Bank of America started coverage on NextEra Energy in a report on Tuesday, October 24th. They issued a “buy” rating and a $166.00 target price for the company. Royal Bank of Canada restated a “buy” rating and issued a $156.00 target price on shares of NextEra Energy in a report on Tuesday, November 7th. Credit Suisse Group started coverage on NextEra Energy in a report on Thursday, December 7th. They issued an “outperform” rating and a $173.00 target price for the company. Finally, KeyCorp restated a “buy” rating and issued a $155.00 target price on shares of NextEra Energy in a report on Thursday, October 12th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. NextEra Energy currently has an average rating of “Buy” and an average target price of $159.63.
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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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