Shelter Mutual Insurance Co Cuts Stock Position in NextEra Energy Inc (NYSE:NEE)

Shelter Mutual Insurance Co cut its holdings in NextEra Energy Inc (NYSE:NEE) by 8.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,410 shares of the utilities provider’s stock after selling 1,790 shares during the quarter. Shelter Mutual Insurance Co’s holdings in NextEra Energy were worth $3,771,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Kavar Capital Partners LLC acquired a new stake in shares of NextEra Energy in the second quarter worth approximately $41,000. Watch Point Trust Co boosted its stake in shares of NextEra Energy by 64.0% in the second quarter. Watch Point Trust Co now owns 2,819 shares of the utilities provider’s stock worth $578,000 after acquiring an additional 1,100 shares during the last quarter. Stephens Inc. AR boosted its stake in shares of NextEra Energy by 6.1% in the second quarter. Stephens Inc. AR now owns 33,857 shares of the utilities provider’s stock worth $6,936,000 after acquiring an additional 1,955 shares during the last quarter. TRUE Private Wealth Advisors acquired a new stake in shares of NextEra Energy in the second quarter worth approximately $25,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of NextEra Energy in the second quarter worth approximately $416,000. Institutional investors and hedge funds own 75.76% of the company’s stock.

NYSE NEE traded up $2.35 on Thursday, reaching $217.31. 87,269 shares of the company were exchanged, compared to its average volume of 1,556,911. The firm has a fifty day simple moving average of $209.64. The company has a market cap of $103.21 billion, a PE ratio of 28.18, a P/E/G ratio of 3.22 and a beta of 0.22. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.52 and a quick ratio of 0.42. NextEra Energy Inc has a fifty-two week low of $164.25 and a fifty-two week high of $217.98.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $2.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.07. The company had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.68 billion. NextEra Energy had a return on equity of 10.46% and a net margin of 18.73%. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 earnings per share. Research analysts anticipate that NextEra Energy Inc will post 8.38 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 29th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Wednesday, August 28th. NextEra Energy’s dividend payout ratio (DPR) is currently 64.94%.

A number of analysts have recently issued reports on the company. Barclays lowered NextEra Energy from an “overweight” rating to an “equal weight” rating and set a $218.00 price target on the stock. in a research note on Tuesday. Zacks Investment Research lowered NextEra Energy from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Morgan Stanley lifted their price target on NextEra Energy from $207.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday. Bank of America lifted their price target on NextEra Energy from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Finally, Wells Fargo & Co lifted their price target on NextEra Energy from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $214.46.

In other NextEra Energy news, EVP Charles E. Sieving sold 16,446 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.08, for a total transaction of $3,290,515.68. Following the transaction, the executive vice president now owns 67,900 shares of the company’s stock, valued at $13,585,432. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph T. Kelliher sold 5,741 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $207.26, for a total value of $1,189,879.66. Following the transaction, the executive vice president now directly owns 37,235 shares in the company, valued at approximately $7,717,326.10. The disclosure for this sale can be found here. Insiders have sold 53,787 shares of company stock worth $10,945,435 in the last three months. 0.48% of the stock is currently owned by corporate insiders.

NextEra Energy 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.

Further Reading: Limitations of the P/E Growth ratio

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

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