NextEra Energy Inc (NEE) Position Trimmed by Rhumbline Advisers
Rhumbline Advisers reduced its position in NextEra Energy Inc (NYSE:NEE) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 899,591 shares of the utilities provider’s stock after selling 28,310 shares during the period. Rhumbline Advisers’ holdings in NextEra Energy were worth $150,771,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. grew its position in NextEra Energy by 3.2% in the first quarter. Principal Financial Group Inc. now owns 1,641,235 shares of the utilities provider’s stock valued at $268,063,000 after acquiring an additional 51,158 shares during the period. Fisher Asset Management LLC grew its position in NextEra Energy by 27.3% in the second quarter. Fisher Asset Management LLC now owns 2,229 shares of the utilities provider’s stock valued at $372,000 after acquiring an additional 478 shares during the period. Xact Kapitalforvaltning AB grew its position in NextEra Energy by 3.5% in the second quarter. Xact Kapitalforvaltning AB now owns 50,218 shares of the utilities provider’s stock valued at $8,388,000 after acquiring an additional 1,699 shares during the period. FormulaFolio Investments LLC grew its position in NextEra Energy by 93.3% in the second quarter. FormulaFolio Investments LLC now owns 3,683 shares of the utilities provider’s stock valued at $615,000 after acquiring an additional 1,778 shares during the period. Finally, Atria Investments LLC grew its position in NextEra Energy by 8.3% in the second quarter. Atria Investments LLC now owns 7,785 shares of the utilities provider’s stock valued at $1,300,000 after acquiring an additional 597 shares during the period. Institutional investors own 75.59% of the company’s stock.
Shares of NEE stock opened at $178.66 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.72. The firm has a market cap of $85.31 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.75 and a beta of 0.13. NextEra Energy Inc has a 52 week low of $145.10 and a 52 week high of $179.99.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, November 29th. NextEra Energy’s payout ratio is presently 66.27%.
In other news, CEO Eric E. Silagy sold 17,000 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $171.91, for a total transaction of $2,922,470.00. Following the transaction, the chief executive officer now owns 42,898 shares of the company’s stock, valued at $7,374,595.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James L. Robo sold 18,000 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $170.69, for a total value of $3,072,420.00. The disclosure for this sale can be found here. Insiders have sold 68,210 shares of company stock worth $11,744,017 in the last 90 days. Company insiders own 0.55% of the company’s stock.
A number of brokerages have weighed in on NEE. Credit Suisse Group lowered their price target on NextEra Energy from $185.00 to $173.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 24th. Wells Fargo & Co increased their target price on NextEra Energy from $180.00 to $191.00 and gave the stock an “outperform” rating in a report on Monday, September 17th. Argus increased their target price on NextEra Energy from $184.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. Morgan Stanley increased their target price on NextEra Energy from $181.00 to $186.00 and gave the stock a “buy” rating in a report on Tuesday, September 11th. Finally, Mizuho assumed coverage on NextEra Energy in a report on Monday, August 13th. They set a “buy” rating and a $184.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $174.62.
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NextEra Energy Company Profile
NextEra Energy, Inc, through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.
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