NextEra Energy, Inc. $NEE Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. decreased its stake in NextEra Energy, Inc. (NYSE:NEE) by 11.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,334 shares of the utilities provider’s stock after selling 16,881 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in NextEra Energy were worth $9,763,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Sax Wealth Advisors LLC increased its stake in shares of NextEra Energy by 0.6% in the 3rd quarter. Sax Wealth Advisors LLC now owns 19,380 shares of the utilities provider’s stock worth $1,463,000 after acquiring an additional 118 shares during the last quarter. apricus wealth LLC grew its holdings in shares of NextEra Energy by 3.8% in the third quarter. apricus wealth LLC now owns 3,272 shares of the utilities provider’s stock valued at $247,000 after purchasing an additional 120 shares during the period. Isthmus Partners LLC increased its position in NextEra Energy by 1.9% during the third quarter. Isthmus Partners LLC now owns 6,590 shares of the utilities provider’s stock worth $497,000 after purchasing an additional 120 shares during the last quarter. Fingerlakes Wealth Management Inc. raised its stake in NextEra Energy by 0.8% during the third quarter. Fingerlakes Wealth Management Inc. now owns 16,215 shares of the utilities provider’s stock worth $1,224,000 after purchasing an additional 124 shares during the period. Finally, Heritage Wealth Management Inc. boosted its holdings in NextEra Energy by 1.0% in the 3rd quarter. Heritage Wealth Management Inc. now owns 12,320 shares of the utilities provider’s stock valued at $930,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

Shares of NextEra Energy stock opened at $95.13 on Thursday. The stock has a market capitalization of $198.20 billion, a price-to-earnings ratio of 28.91, a price-to-earnings-growth ratio of 2.96 and a beta of 0.76. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.60 and a quick ratio of 0.49. The business has a 50-day moving average of $85.59 and a 200 day moving average of $81.42. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $95.91.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Tuesday, January 27th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. NextEra Energy had a net margin of 24.93% and a return on equity of 12.18%. The business had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the prior year, the company earned $0.53 earnings per share. The business’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, sell-side analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a $0.6232 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.49 annualized dividend and a yield of 2.6%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.57. NextEra Energy’s dividend payout ratio is 69.00%.

Insiders Place Their Bets

In other news, EVP Ronald R. Reagan sold 18,620 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $90.00, for a total transaction of $1,675,800.00. Following the sale, the executive vice president owned 9,643 shares of the company’s stock, valued at approximately $867,870. This represents a 65.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles E. Sieving sold 30,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $90.00, for a total value of $2,700,000.00. Following the transaction, the executive vice president directly owned 167,481 shares of the company’s stock, valued at $15,073,290. The trade was a 15.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 159,049 shares of company stock worth $14,194,542 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Argus set a $92.00 price target on shares of NextEra Energy and gave the stock a “buy” rating in a report on Wednesday, January 28th. Erste Group Bank upgraded NextEra Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, February 18th. JPMorgan Chase & Co. lifted their target price on NextEra Energy from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, December 11th. Morgan Stanley reiterated an “overweight” rating and set a $106.00 price target on shares of NextEra Energy in a report on Friday, February 20th. Finally, BMO Capital Markets set a $95.00 price objective on shares of NextEra Energy in a report on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.05.

NextEra Energy Company Profile

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.