Menora Mivtachim Holdings LTD. Buys Shares of 715,000 NextEra Energy, Inc. $NEE

Key Points

• Menora Mivtachim Holdings LTD. acquired a new position by purchasing 715,000 shares of NextEra Energy, Inc. for approximately $50.7 million in the first quarter.
• NextEra Energy recently reported earnings of $1.05 EPS, surpassing the consensus estimate of $1.01, and generated a revenue of $6.70 billion this quarter.
• The company declared a quarterly dividend of $0.5665 per share, with a yield of 3.0%, scheduled for payment on September 15th.

Menora Mivtachim Holdings LTD. bought a new stake in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 715,000 shares of the utilities provider's stock, valued at approximately $50,686,000.

Other hedge funds have also bought and sold shares of the company. Bellwether Advisors LLC bought a new stake in shares of NextEra Energy in the 4th quarter worth approximately $30,000. IMA Advisory Services Inc. bought a new stake in shares of NextEra Energy in the 1st quarter worth approximately $35,000. Copia Wealth Management bought a new stake in shares of NextEra Energy in the 4th quarter worth approximately $36,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of NextEra Energy by 237.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider's stock worth $37,000 after acquiring an additional 366 shares during the last quarter. Finally, Hughes Financial Services LLC bought a new stake in shares of NextEra Energy in the 1st quarter worth approximately $40,000. 78.72% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Robert Coffey sold 7,500 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $71.84, for a total transaction of $538,800.00. Following the sale, the executive vice president directly owned 26,539 shares of the company's stock, valued at approximately $1,906,561.76. This represents a 22.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Treasurer James Michael May sold 2,177 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total transaction of $168,717.50. Following the sale, the treasurer directly owned 27,662 shares in the company, valued at $2,143,805. This trade represents a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

NEE has been the topic of several analyst reports. UBS Group decreased their target price on shares of NextEra Energy from $94.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. JPMorgan Chase & Co. decreased their target price on shares of NextEra Energy from $86.00 to $82.00 in a research note on Thursday, July 3rd. HSBC decreased their target price on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Erste Group Bank downgraded shares of NextEra Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets lifted their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Eight equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, NextEra Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.42.

NextEra Energy Stock Up 1.1%

NYSE:NEE traded up $0.8220 during mid-day trading on Tuesday, hitting $76.5420. 8,046,120 shares of the company's stock were exchanged, compared to its average volume of 9,502,599. NextEra Energy, Inc. has a one year low of $61.72 and a one year high of $86.10. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.54 and a quick ratio of 0.45. The business has a fifty day moving average price of $72.83 and a 200 day moving average price of $70.63. The company has a market cap of $157.62 billion, a PE ratio of 26.76, a P/E/G ratio of 2.61 and a beta of 0.63.

NextEra Energy (NYSE:NEE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, topping the consensus estimate of $1.01 by $0.04. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. NextEra Energy's quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 28th will be paid a dividend of $0.5665 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $2.27 annualized dividend and a yield of 3.0%. NextEra Energy's payout ratio is presently 79.37%.

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,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.