Insider Selling: NextEra Energy Inc (NEE) CEO Sells $6,391,091.07 in Stock
NextEra Energy Inc (NYSE:NEE) CEO Armando Pimentel, Jr. sold 35,347 shares of the stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $180.81, for a total value of $6,391,091.07. Following the completion of the sale, the chief executive officer now owns 94,596 shares in the company, valued at approximately $17,103,902.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
NEE opened at $182.86 on Monday. The firm has a market capitalization of $87.40 billion, a P/E ratio of 27.29, a PEG ratio of 2.81 and a beta of 0.14. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.72. NextEra Energy Inc has a 52 week low of $145.10 and a 52 week high of $184.20.
NextEra Energy (NYSE:NEE) last released its earnings results on Tuesday, October 23rd. The utilities provider reported $2.18 EPS for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.03. The business had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.92 billion. NextEra Energy had a return on equity of 10.21% and a net margin of 51.25%. The firm’s revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 earnings per share. As a group, sell-side analysts anticipate that NextEra Energy Inc will post 7.78 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on NEE. Argus increased their price objective on NextEra Energy from $184.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Zacks Investment Research upgraded NextEra Energy from a “hold” rating to a “buy” rating and set a $193.00 price objective on the stock in a research report on Friday, October 12th. Barclays increased their price objective on NextEra Energy from $182.00 to $187.00 and gave the stock a “hold” rating in a research report on Monday, November 19th. Wells Fargo & Co increased their price objective on NextEra Energy from $191.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 10th. Finally, Royal Bank of Canada increased their price objective on NextEra Energy to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, November 1st. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. NextEra Energy presently has an average rating of “Buy” and an average target price of $175.00.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of NextEra Energy by 2.0% during the third quarter. Vanguard Group Inc. now owns 41,214,999 shares of the utilities provider’s stock valued at $6,907,634,000 after buying an additional 815,916 shares during the last quarter. BlackRock Inc. grew its stake in shares of NextEra Energy by 1.9% in the third quarter. BlackRock Inc. now owns 36,765,396 shares of the utilities provider’s stock worth $6,161,880,000 after purchasing an additional 692,998 shares during the last quarter. Northern Trust Corp grew its stake in shares of NextEra Energy by 1.0% in the second quarter. Northern Trust Corp now owns 6,633,362 shares of the utilities provider’s stock worth $1,107,970,000 after purchasing an additional 64,609 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of NextEra Energy by 4.9% in the third quarter. Bank of New York Mellon Corp now owns 4,385,859 shares of the utilities provider’s stock worth $735,070,000 after purchasing an additional 204,880 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of NextEra Energy by 1.8% in the second quarter. Janus Henderson Group PLC now owns 3,016,711 shares of the utilities provider’s stock worth $503,883,000 after purchasing an additional 53,173 shares during the last quarter. 76.28% of the stock is currently owned by institutional investors and hedge funds.
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About NextEra Energy
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.
Further Reading: Earnings Per Share
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