Kanawha Capital Management LLC purchased a new position in shares of NextEra Energy, Inc. (NYSE:NEE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,491 shares of the utilities provider’s stock, valued at approximately $209,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of NextEra Energy by 8.9% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 871 shares of the utilities provider’s stock worth $112,000 after buying an additional 71 shares in the last quarter. Ruggie Capital Group purchased a new stake in shares of NextEra Energy during the first quarter worth about $191,000. Winslow Evans & Crocker Inc. grew its holdings in shares of NextEra Energy by 12.0% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,395 shares of the utilities provider’s stock worth $195,000 after buying an additional 149 shares in the last quarter. Oarsman Capital Inc. purchased a new stake in shares of NextEra Energy during the first quarter worth about $200,000. Finally, CCM Investment Advisers LLC purchased a new stake in shares of NextEra Energy during the first quarter worth about $200,000. Institutional investors and hedge funds own 75.41% of the company’s stock.
Shares of NextEra Energy, Inc. (NYSE:NEE) opened at 147.92 on Wednesday. The company has a 50-day moving average of $148.97 and a 200-day moving average of $139.72. The stock has a market capitalization of $69.41 billion, a P/E ratio of 16.94 and a beta of 0.33. NextEra Energy, Inc. has a 12-month low of $110.49 and a 12-month high of $151.60.
NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.44 billion. NextEra Energy had a net margin of 24.26% and a return on equity of 11.88%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.67 earnings per share. Equities analysts expect that NextEra Energy, Inc. will post $6.73 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were given a $0.9825 dividend. This represents a $3.93 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Wednesday, August 23rd. NextEra Energy’s dividend payout ratio (DPR) is 45.02%.
A number of equities research analysts have recently commented on NEE shares. KeyCorp reiterated a “buy” rating and set a $155.00 price target on shares of NextEra Energy in a report on Friday, September 1st. Goldman Sachs Group, Inc. (The) started coverage on shares of NextEra Energy in a report on Monday, July 24th. They set a “buy” rating and a $160.00 price target for the company. Morgan Stanley lifted their price target on shares of NextEra Energy from $167.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday, September 8th. BMO Capital Markets reiterated a “buy” rating and set a $156.00 price target (up from $144.00) on shares of NextEra Energy in a report on Friday, June 23rd. Finally, BidaskClub downgraded shares of NextEra Energy from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $151.15.
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In related news, Director James L. Robo sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $147.05, for a total value of $4,411,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John W. Ketchum sold 2,900 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $150.00, for a total value of $435,000.00. Following the completion of the transaction, the executive vice president now owns 18,786 shares in the company, valued at approximately $2,817,900. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.
NextEra Energy Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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