Navellier & Associates Inc Takes Position in NextEra Energy Inc (NYSE:NEE)
Navellier & Associates Inc bought a new stake in shares of NextEra Energy Inc (NYSE:NEE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,752 shares of the utilities provider’s stock, valued at approximately $4,251,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Advisors LLC raised its position in NextEra Energy by 1,000.0% during the second quarter. Legacy Advisors LLC now owns 165 shares of the utilities provider’s stock valued at $34,000 after buying an additional 150 shares during the period. Massey Quick Simon & CO. LLC acquired a new position in NextEra Energy in the 1st quarter worth about $39,000. RPG Investment Advisory LLC bought a new stake in shares of NextEra Energy during the 1st quarter worth about $42,000. Buffington Mohr McNeal bought a new stake in shares of NextEra Energy during the 1st quarter worth about $52,000. Finally, Ellevest Inc. boosted its stake in NextEra Energy by 167.0% during the 1st quarter. Ellevest Inc. now owns 267 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 167 shares during the period. 75.86% of the stock is owned by institutional investors and hedge funds.
In other news, Director Rudy E. Schupp sold 1,600 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $202.90, for a total value of $324,640.00. Following the completion of the transaction, the director now directly owns 18,315 shares of the company’s stock, valued at approximately $3,716,113.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Charles E. Sieving sold 5,916 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $192.20, for a total value of $1,137,055.20. Following the completion of the transaction, the executive vice president now directly owns 51,454 shares of the company’s stock, valued at $9,889,458.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,216 shares of company stock valued at $21,354,766. 0.48% of the stock is currently owned by insiders.
NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $2.35 EPS for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.07. NextEra Energy had a return on equity of 10.46% and a net margin of 18.73%. The company had revenue of $4.97 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter last year, the company earned $2.08 EPS. The company’s quarterly revenue was up 22.3% on a year-over-year basis. On average, equities analysts expect that NextEra Energy Inc will post 8.36 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 29th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.39%. NextEra Energy’s payout ratio is presently 64.94%.
Several analysts recently weighed in on NEE shares. Goldman Sachs Group restated a “neutral” rating and set a $393.00 target price on shares of Boeing in a research note on Monday, April 8th. Scotiabank downgraded WEC Energy Group from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $76.00 to $78.00 in a research note on Wednesday, May 8th. Credit Suisse Group set a €59.00 ($68.60) target price on Renault and gave the company a “neutral” rating in a research note on Friday. Zacks Investment Research upgraded Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Monday, April 29th. Finally, Wells Fargo & Co increased their target price on Twitter from $33.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. NextEra Energy currently has a consensus rating of “Buy” and a consensus price target of $210.50.
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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