APG Asset Management N.V. Sells 880,018 Shares of NextEra Energy, Inc. $NEE

Key Points

• APG Asset Management N.V. reduced its stake in NextEra Energy, Inc. by 40.2%, holding approximately $85.90 million worth of shares after selling 880,018 shares.
• NextEra Energy reported $1.05 earnings per share for its latest quarter, surpassing analyst estimates, but had revenue of $6.70 billion that fell short of expectations.
• The company declared a quarterly dividend of $0.5665 per share, reflecting an annual yield of 3.0% and a payout ratio of 79.37%.

APG Asset Management N.V. decreased its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 40.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,308,949 shares of the utilities provider's stock after selling 880,018 shares during the period. APG Asset Management N.V. owned approximately 0.06% of NextEra Energy worth $85,902,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tradition Wealth Management LLC raised its position in NextEra Energy by 2.2% during the first quarter. Tradition Wealth Management LLC now owns 6,625 shares of the utilities provider's stock valued at $470,000 after acquiring an additional 143 shares in the last quarter. Cim LLC raised its position in NextEra Energy by 0.5% during the fourth quarter. Cim LLC now owns 33,434 shares of the utilities provider's stock valued at $2,397,000 after acquiring an additional 158 shares in the last quarter. Conning Inc. grew its holdings in NextEra Energy by 1.1% during the first quarter. Conning Inc. now owns 14,089 shares of the utilities provider's stock valued at $999,000 after purchasing an additional 160 shares during the last quarter. Premier Path Wealth Partners LLC grew its holdings in NextEra Energy by 0.7% during the first quarter. Premier Path Wealth Partners LLC now owns 22,445 shares of the utilities provider's stock valued at $1,591,000 after purchasing an additional 166 shares during the last quarter. Finally, Opal Wealth Advisors LLC grew its holdings in NextEra Energy by 2.9% during the first quarter. Opal Wealth Advisors LLC now owns 6,020 shares of the utilities provider's stock valued at $427,000 after purchasing an additional 168 shares during the last quarter. Institutional investors and hedge funds own 78.72% of the company's stock.

Analyst Upgrades and Downgrades

NEE has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price target on NextEra Energy from $86.00 to $87.00 and gave the company an "overweight" rating in a report on Friday. Melius Research upgraded NextEra Energy to a "strong-buy" rating in a report on Wednesday, August 20th. Melius initiated coverage on NextEra Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $77.00 price target on the stock. HSBC lowered their price target on NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Finally, Morgan Stanley lowered their price objective on shares of NextEra Energy from $95.00 to $94.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $84.23.

Insiders Place Their Bets

In other NextEra Energy news, Treasurer James Michael May sold 2,177 shares of NextEra Energy stock in a transaction on 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 owned 27,662 shares in the company, valued at $2,143,805. The trade was a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Coffey sold 7,500 shares of NextEra Energy stock in a transaction on Monday, July 28th. The shares were sold at an average price of $71.84, for a total value of $538,800.00. Following the transaction, the executive vice president directly owned 26,539 shares of the company's stock, valued at approximately $1,906,561.76. The trade was a 22.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

NextEra Energy Stock Performance

NEE traded down $0.93 during trading on Monday, reaching $75.39. 6,337,673 shares of the company's stock were exchanged, compared to its average volume of 9,069,239. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.10. 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 business has a 50 day moving average price of $73.08 and a 200 day moving average price of $70.86. The company has a market capitalization of $155.25 billion, a P/E ratio of 26.36, a PEG ratio of 2.63 and a beta of 0.63.

NextEra Energy (NYSE:NEE - Get Free Report) last posted 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. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the previous year, the company earned $0.96 earnings per share. The business's revenue was up 10.4% compared to the same quarter last year. As a group, analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

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