NextEra Energy, Inc. $NEE Holdings Decreased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in NextEra Energy, Inc. (NYSE:NEE) by 6.8% in the third quarter, Holdings Channel.com reports. The firm owned 6,640,915 shares of the utilities provider’s stock after selling 484,726 shares during the quarter. Pictet Asset Management Holding SA’s holdings in NextEra Energy were worth $502,983,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in NextEra Energy during the second quarter worth $1,465,987,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in NextEra Energy by 5.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,302,084 shares of the utilities provider’s stock valued at $1,430,834,000 after buying an additional 895,824 shares during the last quarter. Amundi increased its stake in NextEra Energy by 46.5% in the 2nd 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 last quarter. Bessemer Group Inc. increased its stake in NextEra Energy by 8.5% in the 1st quarter. Bessemer Group Inc. now owns 10,187,013 shares of the utilities provider’s stock valued at $946,169,000 after buying an additional 799,546 shares during the last quarter. Finally, GQG Partners LLC bought a new stake in NextEra Energy during the 2nd quarter worth about $651,293,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Trading Down 1.5%

NEE opened at $86.92 on Friday. NextEra Energy, Inc. has a 1-year low of $74.41 and a 1-year high of $98.75. The company has a current ratio of 0.53, a quick ratio of 0.45 and a debt-to-equity ratio of 1.33. The company has a market cap of $182.30 billion, a P/E ratio of 15.66, a PEG ratio of 2.69 and a beta of 0.60. The company’s 50 day moving average is $80.50 and its 200-day moving average is $87.27.

NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, October 21st. The utilities provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $8.47 billion. NextEra Energy had a net margin of 40.37% and a return on equity of 12.27%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 earnings per share. Equities research analysts predict that NextEra Energy, Inc. will post 4.01 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The firm 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 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, November 27th. NextEra Energy’s dividend payout ratio is 44.86%.

Key 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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. BMO Capital Markets set a $88.00 target price on NextEra Energy and gave the stock an “outperform” rating in a report on Tuesday, October 20th. Sanford C. Bernstein restated an “outperform” rating and set a $108.00 price objective on shares of NextEra Energy in a report on Wednesday, October 21st. HSBC set a $103.00 price target on shares of NextEra Energy in a research report on Thursday, October 22nd. Bank of America lowered their price objective on NextEra Energy from $95.00 to $93.00 and set a “neutral” rating on the stock in a research note on Monday, July 13th. Finally, Weiss Ratings raised NextEra Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.80.

NextEra Energy Company 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.