Park Avenue Securities LLC Acquires 4,939 Shares of NextEra Energy, Inc. (NYSE:NEE)


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Park Avenue Securities LLC lifted its stake in NextEra Energy, Inc. (NYSE:NEE) by 8.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,841 shares of the utilities provider’s stock after buying an additional 4,939 shares during the period. Park Avenue Securities LLC’s holdings in NextEra Energy were worth $4,676,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Parsec Financial Management Inc. increased its holdings in NextEra Energy by 297.6% in the fourth quarter. Parsec Financial Management Inc. now owns 34,358 shares of the utilities provider’s stock valued at $2,651,000 after purchasing an additional 25,716 shares during the last quarter. Glenview Trust Co lifted its position in shares of NextEra Energy by 299.0% in the fourth quarter. Glenview Trust Co now owns 40,023 shares of the utilities provider’s stock valued at $3,087,000 after buying an additional 29,991 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of NextEra Energy by 388.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 29,675 shares of the utilities provider’s stock valued at $2,289,000 after buying an additional 23,603 shares in the last quarter. CENTRAL TRUST Co raised its position in shares of NextEra Energy by 296.1% in the 4th quarter. CENTRAL TRUST Co now owns 227,754 shares of the utilities provider’s stock valued at $17,571,000 after buying an additional 170,258 shares in the last quarter. Finally, Meitav Dash Investments Ltd. increased its position in NextEra Energy by 298.5% during the 4th quarter. Meitav Dash Investments Ltd. now owns 449,847 shares of the utilities provider’s stock worth $34,704,000 after purchasing an additional 336,954 shares in the last quarter. Institutional investors own 19.20% of the company’s stock.

A number of research firms recently issued reports on NEE. Morgan Stanley upped their price objective on shares of NextEra Energy from $66.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Monday, April 26th. Barclays upped their price objective on shares of NextEra Energy from $78.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, April 19th. Wells Fargo & Company boosted their target price on shares of NextEra Energy from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, January 27th. Credit Suisse Group raised shares of NextEra Energy from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $87.00 to $85.00 in a report on Monday, March 15th. Finally, Sanford C. Bernstein assumed coverage on shares of NextEra Energy in a report on Tuesday, March 9th. They set an “outperform” rating and a $88.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $78.83.

In other news, CEO James L. Robo sold 118,000 shares of NextEra Energy stock in a transaction that occurred on Tuesday, March 2nd. The stock was sold at an average price of $76.02, for a total value of $8,970,360.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Eric E. Silagy sold 9,268 shares of NextEra Energy stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $80.00, for a total value of $741,440.00. Following the completion of the sale, the chief executive officer now owns 144,977 shares in the company, valued at $11,598,160. The disclosure for this sale can be found here. Insiders sold a total of 192,680 shares of company stock worth $14,718,893 over the last ninety days. Insiders own 0.40% of the company’s stock.

Shares of NYSE:NEE traded down $0.70 on Tuesday, hitting $76.00. The company’s stock had a trading volume of 49,340 shares, compared to its average volume of 8,816,527. The company has a 50-day simple moving average of $76.41 and a 200 day simple moving average of $78.07. NextEra Energy, Inc. has a 1 year low of $55.65 and a 1 year high of $87.69. The company has a market capitalization of $149.07 billion, a PE ratio of 38.64, a PEG ratio of 4.07 and a beta of 0.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.57 and a quick ratio of 0.48.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Tuesday, April 20th. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.08. NextEra Energy had a return on equity of 10.79% and a net margin of 21.44%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter last year, the firm posted $0.59 EPS. The company’s revenue was down 19.2% compared to the same quarter last year. On average, equities research analysts expect that NextEra Energy, Inc. will post 2.3 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Friday, February 26th were paid a $0.385 dividend. The ex-dividend date of this dividend was Thursday, February 25th. This represents a $1.54 dividend on an annualized basis and a yield of 2.03%. NextEra Energy’s dividend payout ratio (DPR) is currently 73.68%.

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 fossil fuel, such as coal and natural gas facilities. It also develops, constructs, and operates long-term contracted assets with a focus on renewable generation facilities, electric transmission facilities, and battery storage projects; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.

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Institutional Ownership by Quarter for NextEra Energy (NYSE:NEE)

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