Carmel Capital Partners LLC Sells 6,297 Shares of NextEra Energy, Inc. $NEE

Carmel Capital Partners LLC trimmed its holdings in NextEra Energy, Inc. (NYSE:NEE) by 17.8% in the 3rd quarter, Holdings Channel reports. The fund owned 29,002 shares of the utilities provider’s stock after selling 6,297 shares during the quarter. Carmel Capital Partners LLC’s holdings in NextEra Energy were worth $2,197,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of NEE. Legal & General Group Plc bought a new stake in NextEra Energy in the 2nd quarter valued at $1,465,987,000. GQG Partners LLC bought a new position in shares of NextEra Energy during the 2nd quarter worth about $651,293,000. Canada Pension Plan Investment Board acquired a new position in shares of NextEra Energy during the second quarter valued at about $389,527,000. Amundi lifted its stake in shares of NextEra Energy by 46.5% in the second quarter. Amundi now owns 13,329,077 shares of the utilities provider’s stock valued at $1,169,839,000 after buying an additional 4,231,814 shares during the period. Finally, Caisse de depot et placement du Quebec bought a new stake in shares of NextEra Energy in the second quarter valued at about $288,886,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Price Performance

NEE traded down $1.33 during midday trading on Friday, reaching $86.92. 11,876,626 shares of the company’s stock were exchanged, compared to its average volume of 11,813,902. The company has a quick ratio of 0.45, a current ratio of 0.53 and a debt-to-equity ratio of 1.33. The business has a 50-day simple moving average of $80.50 and a two-hundred day simple moving average of $87.27. The firm has a market capitalization of $182.30 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 2.63 and a beta of 0.60. NextEra Energy, Inc. has a one year low of $74.41 and a one year high of $98.75.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Wednesday, October 21st. The utilities provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. NextEra Energy had a return on equity of 12.27% and a net margin of 40.37%. The company had revenue of $8.09 billion for the quarter, compared to analyst estimates of $8.47 billion. During the same period in the prior year, the company posted $1.13 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. As a group, research analysts predict that NextEra Energy, Inc. will post 4.01 EPS for the current year.

NextEra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 27th will be given a $0.6232 dividend. This represents a $2.49 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, November 27th. NextEra Energy’s dividend payout ratio is 44.86%.

More NextEra Energy News

Here are the key news stories impacting NextEra Energy this week:

• Positive Sentiment: Clean-energy stocks rallied after Democrats won control of Congress, and the article says NextEra captured the rally. Its battery development and ability to supply power to data centers may help it benefit from rising electricity demand. NextEra Energy Vs. AES Corporation: Utility Scale Energy Production Just Got a Major Blue Boost
• Positive Sentiment: A Virginia Chamber of Commerce-commissioned study says the proposed Dominion merger could bring thousands of jobs to Virginia, adding an economic-benefit argument in support of the deal. Virginia Chamber of Commerce promotes study touting Dominion merger benefits
• Neutral Sentiment: NextEra said senior management will participate in the EEI Financial Conference Nov. 8–10. The announcement does not identify new financial guidance or a specific business update. NextEra Energy to participate in EEI Financial Conference
• Neutral Sentiment: Another report describes the Virginia merger review as advancing with safeguards, but the available headline does not detail the terms or indicate whether approval is assured. NextEra Energy stock gains safeguards as Virginia merger review advances
• Negative Sentiment: Faith leaders and community advocates urged Virginia regulators to reject NextEra’s proposed $67 billion acquisition of Dominion, highlighting opposition and continued regulatory risk around the transaction. Faith Leaders Urge SCC to Reject Dominion-NextEra Merger

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded NextEra Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 22nd. Barclays decreased their price objective on NextEra Energy from $84.00 to $79.00 and set an “equal weight” rating on the stock in a report on Friday, October 23rd. Wall Street Zen upgraded NextEra Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 17th. Morgan Stanley set a $110.00 target price on NextEra Energy and gave the company an “overweight” rating in a research note on Wednesday, October 14th. Finally, Scotiabank reduced their target price on NextEra Energy from $110.00 to $99.00 and set an “outperform” rating for the company in a research report on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, NextEra Energy has an average rating of “Moderate Buy” and an average price target of $97.80.

NextEra Energy Profile

NextEra Energy, Inc is an energy company whose businesses include Florida Power & Light Company (FPL), a regulated electric utility, and NextEra Energy Resources, a developer and operator of energy infrastructure. FPL generates, transmits and distributes electricity to customers across Florida.

NextEra Energy Resources develops and operates projects in North America, including wind and solar generation, battery storage, and natural gas and nuclear facilities. The company also invests in transmission infrastructure and provides energy-related services.

The company traces its roots to 1925, when Florida Power & Light was established.