Alta Wealth Advisors LLC Reduces Stock Holdings in NextEra Energy, Inc. $NEE

Key Points

• Alta Wealth Advisors LLC reduced its stock holdings in NextEra Energy by 59.0%, retaining only 4,786 shares after selling 6,892 shares during the 2nd quarter.
• NextEra Energy has seen significant investments from other institutional investors, such as GQG Partners and Charles Schwab, which increased their stakes by 58.4% and 20.7%, respectively.
• The company's recent earnings report revealed a $1.05 EPS, exceeding analysts' expectations of $1.01, although revenue fell short at $6.70 billion against an expected $7.52 billion.

Alta Wealth Advisors LLC trimmed its holdings in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 59.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,786 shares of the utilities provider's stock after selling 6,892 shares during the quarter. Alta Wealth Advisors LLC's holdings in NextEra Energy were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GQG Partners LLC grew its stake in NextEra Energy by 58.4% during the 1st quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider's stock valued at $1,221,896,000 after purchasing an additional 6,352,798 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in NextEra Energy by 20.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider's stock valued at $1,165,748,000 after purchasing an additional 2,815,629 shares during the last quarter. Amundi grew its stake in NextEra Energy by 27.8% during the 1st quarter. Amundi now owns 12,200,990 shares of the utilities provider's stock valued at $878,447,000 after purchasing an additional 2,657,438 shares during the last quarter. Vanguard Group Inc. grew its stake in NextEra Energy by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 207,322,418 shares of the utilities provider's stock valued at $14,697,086,000 after purchasing an additional 2,025,193 shares during the last quarter. Finally, Boston Partners grew its stake in NextEra Energy by 55.3% during the 1st quarter. Boston Partners now owns 5,300,839 shares of the utilities provider's stock valued at $374,639,000 after purchasing an additional 1,886,999 shares during the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Michael Dunne sold 10,000 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $70.79, for a total value of $707,900.00. Following the completion of the transaction, the executive vice president owned 62,064 shares of the company's stock, valued at approximately $4,393,510.56. This represents a 13.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Lemasney sold 846 shares of the company's stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $74.90, for a total value of $63,365.40. Following the completion of the transaction, the executive vice president directly owned 9,267 shares of the company's stock, valued at $694,098.30. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,369 shares of company stock worth $1,539,610. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NEE shares. Melius started coverage on NextEra Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $77.00 price target on the stock. Mizuho set a $78.00 price target on NextEra Energy in a research note on Thursday, August 21st. HSBC dropped their price target on NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. JPMorgan Chase & Co. upped their target price on NextEra Energy from $86.00 to $87.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Finally, Melius Research upgraded NextEra Energy to a "strong-buy" rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $84.08.

NextEra Energy Stock Up 2.5%

Shares of NEE opened at $80.12 on Friday. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $86.00. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $164.98 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 2.76 and a beta of 0.66. The stock's 50-day moving average price is $72.99 and its 200-day moving average price is $71.28.

NextEra Energy (NYSE:NEE - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, topping 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 quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 EPS. On average, sell-side analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 28th were issued a $0.5665 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a yield of 2.8%. NextEra Energy's dividend payout ratio is presently 79.37%.

NextEra Energy Company 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.

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