24,750 NextEra Energy, Inc. $NEE Shares Sold by Lockheed Martin Investment Management Co.

Key Points

• Lockheed Martin Investment Management cut its NextEra Energy stake by 54.3% in the third quarter, selling 24,750 shares and retaining 20,840 shares valued at about $1.58 million.
• NextEra reported quarterly EPS of $1.24, beating the $1.20 consensus, while revenue of $8.09 billion fell short of estimates. Revenue was up 1.6% year over year.
• The company announced a quarterly dividend of $0.6232 per share, equivalent to a 2.9% yield. Analysts’ average rating was “Moderate Buy,” with an average price target of $97.80.

Lockheed Martin Investment Management Co. lessened its stake in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 54.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,840 shares of the utilities provider's stock after selling 24,750 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in NextEra Energy were worth $1,578,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NEE. Gryphon Financial Partners LLC increased its holdings in shares of NextEra Energy by 2.8% in the third quarter. Gryphon Financial Partners LLC now owns 38,497 shares of the utilities provider's stock worth $2,916,000 after buying an additional 1,049 shares during the period. M&G PLC boosted its holdings in NextEra Energy by 15.6% during the 3rd quarter. M&G PLC now owns 4,748,056 shares of the utilities provider's stock valued at $360,852,000 after acquiring an additional 641,295 shares during the period. AlphaCore Capital LLC boosted its holdings in NextEra Energy by 5.9% during the 3rd quarter. AlphaCore Capital LLC now owns 64,348 shares of the utilities provider's stock valued at $4,874,000 after acquiring an additional 3,584 shares during the period. Clear Wave Wealth Management LLC grew its position in NextEra Energy by 2.4% during the 3rd quarter. Clear Wave Wealth Management LLC now owns 5,327 shares of the utilities provider's stock worth $403,000 after acquiring an additional 127 shares during the last quarter. Finally, StoneRidge PMG Advisors LLC bought a new position in NextEra Energy during the 3rd quarter worth approximately $473,000. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Stock Performance

NextEra Energy stock opened at $86.87 on Tuesday. NextEra Energy, Inc. has a twelve month low of $74.41 and a twelve month high of $98.75. The company has a quick ratio of 0.45, a current ratio of 0.53 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $182.20 billion, a P/E ratio of 15.65, a PEG ratio of 2.73 and a beta of 0.60. The stock's 50 day moving average is $80.61 and its 200 day moving average is $87.28.

NextEra Energy (NYSE:NEE - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The utilities provider reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The business had revenue of $8.09 billion during the quarter, compared to analyst estimates of $8.47 billion. NextEra Energy had a net margin of 40.37% and a return on equity of 12.27%. NextEra Energy's revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business earned $1.13 EPS. On average, equities research analysts predict that NextEra Energy, Inc. will post 4.01 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 27th will be given a $0.6232 dividend. This represents a $2.49 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 27th. NextEra Energy's dividend payout ratio (DPR) is presently 44.86%.

Wall Street Analyst Weigh In

NEE has been the subject of a number of recent analyst reports. Seaport Research Partners reiterated a "sell" rating and set a $56.00 price target (up from $55.00) on shares of NextEra Energy in a report on Friday, October 2nd. HSBC set a $103.00 price target on shares of NextEra Energy in a report on Thursday, October 22nd. Bank of America decreased their price objective on shares of NextEra Energy from $95.00 to $93.00 and set a "neutral" rating on the stock in a research report on Monday, July 13th. Morgan Stanley set a $110.00 price objective on shares of NextEra Energy and gave the company an "overweight" rating in a research note on Wednesday, October 14th. Finally, Mizuho dropped their target price on shares of NextEra Energy from $95.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $97.80.

NextEra Energy Company Profile

NextEra Energy, Inc is an energy company whose businesses include Florida Power & Light Company (FPL), a regulated electric utility, and NextEra Energy Resources, a developer and operator of energy infrastructure. FPL generates, transmits and distributes electricity to customers across Florida.

NextEra Energy Resources develops and operates projects in North America, including wind and solar generation, battery storage, and natural gas and nuclear facilities. The company also invests in transmission infrastructure and provides energy-related services.

The company traces its roots to 1925, when Florida Power & Light was established.

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