Cramer Rosenthal Mcglynn LLC trimmed its holdings in NextEra Energy Inc (NYSE:NEE) by 45.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 99,744 shares of the utilities provider’s stock after selling 83,291 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in NextEra Energy were worth $20,434,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. TRUE Private Wealth Advisors purchased a new position in shares of NextEra Energy in the second quarter worth $25,000. Krane Funds Advisors LLC purchased a new position in NextEra Energy during the 2nd quarter valued at $25,000. Manchester Financial Inc. purchased a new position in NextEra Energy during the 2nd quarter valued at $26,000. Mackey Komara & Dankovich LLC increased its position in NextEra Energy by 446.4% during the 2nd quarter. Mackey Komara & Dankovich LLC now owns 765 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 625 shares during the period. Finally, Legacy Advisors LLC increased its position in NextEra Energy by 1,000.0% during the 2nd quarter. Legacy Advisors LLC now owns 165 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 76.11% of the company’s stock.
NEE has been the topic of a number of research analyst reports. Morgan Stanley set a $233.00 price objective on shares of NextEra Energy and gave the company a “buy” rating in a research report on Friday, August 16th. KeyCorp initiated coverage on shares of NextEra Energy in a research report on Tuesday, June 4th. They set an “overweight” rating and a $225.00 price objective on the stock. Wells Fargo & Co set a $240.00 price objective on shares of NextEra Energy and gave the company a “buy” rating in a research report on Tuesday, September 3rd. UBS Group boosted their price objective on shares of NextEra Energy from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Credit Suisse Group boosted their price objective on shares of NextEra Energy from $231.00 to $232.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $217.77.
In other news, EVP Joseph T. Kelliher sold 3,279 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $219.20, for a total transaction of $718,756.80. Following the sale, the executive vice president now owns 28,215 shares in the company, valued at approximately $6,184,728. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Joseph T. Kelliher sold 5,741 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $207.26, for a total transaction of $1,189,879.66. Following the completion of the transaction, the executive vice president now owns 37,235 shares in the company, valued at approximately $7,717,326.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,894 shares of company stock worth $21,378,595. Company insiders own 0.48% of the company’s stock.
Shares of NEE stock traded down $1.36 during mid-day trading on Friday, reaching $219.39. 213,327 shares of the company’s stock traded hands, compared to its average volume of 2,280,760. NextEra Energy Inc has a 12 month low of $164.25 and a 12 month high of $225.96. The company has a market cap of $105.76 billion, a P/E ratio of 28.49, a P/E/G ratio of 3.25 and a beta of 0.19. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 0.88. The company’s 50-day moving average price is $216.51 and its 200-day moving average price is $202.03.
NextEra Energy (NYSE:NEE) last announced its earnings results on Wednesday, July 24th. The utilities provider reported $2.35 EPS for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.07. NextEra Energy had a net margin of 18.73% and a return on equity of 10.46%. The firm had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter in the previous year, the business posted $2.08 EPS. The company’s quarterly revenue was up 22.3% on a year-over-year basis. Equities analysts predict that NextEra Energy Inc will post 8.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 29th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Wednesday, August 28th. NextEra Energy’s dividend payout ratio (DPR) is presently 64.94%.
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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