NextEra Energy Inc (NYSE:NEE) Position Boosted by Philadelphia Trust Co.
Philadelphia Trust Co. lifted its holdings in NextEra Energy Inc (NYSE:NEE) by 8.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,047 shares of the utilities provider’s stock after purchasing an additional 300 shares during the quarter. Philadelphia Trust Co.’s holdings in NextEra Energy were worth $676,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in NEE. Gables Capital Management Inc. acquired a new stake in NextEra Energy during the first quarter worth about $105,000. Braun Bostich & Associates Inc. raised its holdings in NextEra Energy by 492.5% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 865 shares of the utilities provider’s stock valued at $144,000 after buying an additional 719 shares during the last quarter. Howe & Rusling Inc. raised its holdings in NextEra Energy by 70.5% in the 2nd quarter. Howe & Rusling Inc. now owns 902 shares of the utilities provider’s stock valued at $151,000 after buying an additional 373 shares during the last quarter. Centersquare Investment Management LLC bought a new position in NextEra Energy in the 1st quarter valued at approximately $150,000. Finally, Stelac Advisory Services LLC bought a new position in NextEra Energy during the 1st quarter worth approximately $151,000. 76.29% of the stock is currently owned by institutional investors and hedge funds.
NEE stock traded down $0.95 during mid-day trading on Friday, reaching $173.65. 1,654,277 shares of the company traded hands, compared to its average volume of 1,512,316. The company has a quick ratio of 0.46, a current ratio of 0.58 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $81.35 billion, a PE ratio of 25.92, a PEG ratio of 2.65 and a beta of 0.18. NextEra Energy Inc has a 52-week low of $144.70 and a 52-week high of $175.65.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Thursday, August 30th will be issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Wednesday, August 29th. NextEra Energy’s payout ratio is 66.27%.
In other NextEra Energy news, CEO Eric E. Silagy sold 17,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $171.91, for a total value of $2,922,470.00. Following the completion of the sale, the chief executive officer now owns 42,898 shares of the company’s stock, valued at $7,374,595.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Armando Pimentel, Jr. sold 10,734 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $170.98, for a total value of $1,835,299.32. Following the completion of the sale, the chief executive officer now directly owns 64,169 shares of the company’s stock, valued at approximately $10,971,615.62. The disclosure for this sale can be found here. Insiders have sold 45,734 shares of company stock valued at $7,830,189 in the last three months. 0.55% of the stock is owned by insiders.
NEE has been the subject of several analyst reports. ValuEngine upgraded shares of NextEra Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Mizuho began coverage on shares of NextEra Energy in a research report on Monday, August 13th. They set a “buy” rating and a $184.00 price objective for the company. KeyCorp lifted their price target on shares of NextEra Energy from $168.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 19th. Morgan Stanley reduced their price target on shares of NextEra Energy from $172.00 to $169.00 and set an “overweight” rating for the company in a research report on Wednesday, June 13th. Finally, Zacks Investment Research cut NextEra Energy from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $168.38.
About NextEra Energy
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.
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