Park Avenue Securities LLC Acquires New Stake in NextEra Energy, Inc. $NEE

Key Points

• Park Avenue Securities LLC purchased 140,163 shares of NextEra Energy, valued at approximately $9.73 million, indicating significant interest from institutional investors.
• NextEra Energy reported earnings of $1.05 per share for the last quarter, surpassing estimates and revealing a revenue increase of 10.4% compared to the previous year.
• The company recently announced a quarterly dividend of $0.5665 per share, representing an annualized yield of 3.2% and a payout ratio of 79.37%.

Park Avenue Securities LLC purchased a new position in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 140,163 shares of the utilities provider's stock, valued at approximately $9,730,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 1 North Wealth Services LLC bought a new position in NextEra Energy in the 1st quarter worth $26,000. Nova Wealth Management Inc. bought a new stake in NextEra Energy in the first quarter worth about $32,000. IMA Advisory Services Inc. bought a new stake in shares of NextEra Energy during the first quarter valued at approximately $35,000. Copia Wealth Management purchased a new position in NextEra Energy during the fourth quarter valued at approximately $36,000. Finally, Semmax Financial Advisors Inc. grew its holdings in NextEra Energy by 335.0% in the first quarter. Semmax Financial Advisors Inc. now owns 509 shares of the utilities provider's stock worth $36,000 after purchasing an additional 392 shares during the last quarter. Institutional investors own 78.72% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on NEE. BMO Capital Markets boosted their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. HSBC reduced their price objective on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Morgan Stanley reaffirmed an "overweight" rating on shares of NextEra Energy in a report on Thursday, August 21st. Mizuho set a $78.00 target price on shares of NextEra Energy in a research report on Thursday, August 21st. Finally, Barclays boosted their price objective on shares of NextEra Energy from $65.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $84.00.

NextEra Energy Price Performance

Shares of NYSE NEE traded up $1.23 during midday trading on Monday, reaching $72.31. 9,850,601 shares of the company traded hands, compared to its average volume of 9,260,582. The stock's 50-day simple moving average is $72.71 and its 200-day simple moving average is $71.07. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.10. The firm has a market cap of $148.91 billion, a PE ratio of 25.28, a PEG ratio of 2.45 and a beta of 0.65.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.04. The company had revenue of $6.70 billion during the quarter, compared to analysts' expectations of $7.52 billion. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.NextEra Energy's revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 EPS. As a group, equities analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 28th were given a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Thursday, August 28th. NextEra Energy's dividend payout ratio (DPR) is 79.37%.

Insider Buying and Selling

In other news, EVP Michael Dunne sold 10,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $70.79, for a total transaction of $707,900.00. Following the completion of the sale, the executive vice president owned 62,064 shares in the company, valued at $4,393,510.56. The trade was a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert Coffey sold 7,500 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $71.84, for a total value of $538,800.00. Following the completion of the transaction, the executive vice president directly owned 26,539 shares in the company, valued at approximately $1,906,561.76. This represents a 22.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,523 shares of company stock valued at $1,476,245 over the last three months. 0.18% of the stock is owned by insiders.

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,natural gas, and other clean energy. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.