Watch Point Trust Co Acquires 1,100 Shares of NextEra Energy Inc (NYSE:NEE)
Watch Point Trust Co grew its position in NextEra Energy Inc (NYSE:NEE) by 64.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,819 shares of the utilities provider’s stock after buying an additional 1,100 shares during the period. Watch Point Trust Co’s holdings in NextEra Energy were worth $578,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEE. Comerica Securities Inc. grew its position in NextEra Energy by 98.4% in the 4th quarter. Comerica Securities Inc. now owns 3,628 shares of the utilities provider’s stock valued at $631,000 after buying an additional 1,799 shares during the last quarter. Dimensional Fund Advisors LP grew its position in NextEra Energy by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 892,125 shares of the utilities provider’s stock valued at $155,062,000 after buying an additional 26,810 shares during the last quarter. USS Investment Management Ltd purchased a new position in NextEra Energy in the 1st quarter valued at $43,715,000. First Manhattan Co. lifted its holdings in NextEra Energy by 2.1% in the first quarter. First Manhattan Co. now owns 4,510 shares of the utilities provider’s stock valued at $872,000 after acquiring an additional 93 shares during the period. Finally, Virtu Financial LLC acquired a new stake in NextEra Energy in the first quarter valued at $356,000. 75.76% of the stock is owned by institutional investors.
A number of research firms have commented on NEE. UBS Group raised their target price on NextEra Energy from $225.00 to $236.00 and gave the company a “buy” rating in a report on Friday, June 7th. Bank of America raised their target price on NextEra Energy from $215.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. KeyCorp began coverage on NextEra Energy in a report on Tuesday, June 4th. They issued an “overweight” rating and a $225.00 target price for the company. Guggenheim raised their target price on NextEra Energy from $205.00 to $223.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, Scotiabank raised NextEra Energy from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $187.00 to $202.00 in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $214.46.
NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.07. The business had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.68 billion. NextEra Energy had a return on equity of 10.46% and a net margin of 18.73%. The business’s revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.08 EPS. As a group, sell-side analysts anticipate that NextEra Energy Inc will post 8.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 29th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Wednesday, August 28th. NextEra Energy’s dividend payout ratio (DPR) is presently 64.94%.
In other news, EVP Charles E. Sieving sold 16,446 shares of NextEra Energy stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.08, for a total transaction of $3,290,515.68. Following the completion of the transaction, the executive vice president now owns 67,900 shares of the company’s stock, valued at approximately $13,585,432. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rudy E. Schupp sold 1,600 shares of NextEra Energy stock in a transaction on Monday, July 1st. The stock was sold at an average price of $202.90, for a total value of $324,640.00. Following the transaction, the director now directly owns 18,315 shares of the company’s stock, valued at approximately $3,716,113.50. The disclosure for this sale can be found here. Insiders have sold a total of 53,787 shares of company stock valued at $10,945,435 in the last ninety days. Corporate insiders own 0.48% of the company’s stock.
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.
Further Reading: Understanding Price to Earnings Ratio (PE)
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