NextEra Energy, Inc. (NYSE:NEE) Shares Sold by Assetmark Inc.

Key Points

• Assetmark Inc. reduced its stake in NextEra Energy, Inc. by 2.0%, holding 181,849 shares valued at approximately $12.89 million at the end of the first quarter.
• NextEra Energy recently declared a quarterly dividend of $0.5665 per share, with a dividend yield of 3.15% and a payout ratio of 85.02%.
• Despite a 10.4% year-over-year increase in revenue to $6.70 billion, NextEra's earnings per share (EPS) of $1.05 surpassed analyst expectations of $1.01.

Assetmark Inc. lessened its holdings in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 2.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 181,849 shares of the utilities provider's stock after selling 3,694 shares during the period. Assetmark Inc.'s holdings in NextEra Energy were worth $12,891,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cim LLC grew its stake in shares of NextEra Energy by 0.5% in the 4th quarter. Cim LLC now owns 33,434 shares of the utilities provider's stock valued at $2,397,000 after purchasing an additional 158 shares during the last quarter. Conning Inc. boosted its stake in shares of NextEra Energy by 1.1% in the first quarter. Conning Inc. now owns 14,089 shares of the utilities provider's stock valued at $999,000 after buying an additional 160 shares in the last quarter. Wealth Dimensions Group Ltd. boosted its stake in shares of NextEra Energy by 4.3% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,877 shares of the utilities provider's stock valued at $278,000 after buying an additional 161 shares in the last quarter. Premier Path Wealth Partners LLC boosted its stake in shares of NextEra Energy by 0.7% in 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 buying an additional 166 shares in the last quarter. Finally, Opal Wealth Advisors LLC boosted its position 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 worth $427,000 after purchasing an additional 168 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company's stock.

NextEra Energy Trading Up 0.5%

NEE stock traded up $0.35 during trading on Tuesday, reaching $71.69. 4,608,133 shares of the stock traded hands, compared to its average volume of 12,214,843. The business's 50 day moving average price is $72.19 and its 200-day moving average price is $70.46. NextEra Energy, Inc. has a 52-week low of $61.72 and a 52-week 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 firm has a market capitalization of $147.62 billion, a PE ratio of 25.03, a P/E/G ratio of 2.48 and a beta of 0.67.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%. The company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. The company's revenue was up 10.4% compared to the same quarter last year. As a group, sell-side analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, August 28th will be given a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, August 28th. NextEra Energy's payout ratio is 79.37%.

Analyst Ratings Changes

A number of research firms have commented on NEE. JPMorgan Chase & Co. decreased their target price on NextEra Energy from $86.00 to $82.00 in a research report on Thursday, July 3rd. UBS Group cut their price target on NextEra Energy from $94.00 to $84.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Wells Fargo & Company cut their price target on NextEra Energy from $102.00 to $97.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. HSBC cut their price target on NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a report on Friday, July 11th. Finally, Barclays upped their target price on NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, NextEra Energy presently has an average rating of "Moderate Buy" and a consensus target price of $84.42.

Insider Transactions at NextEra Energy

In related news, EVP Charles E. Sieving sold 23,684 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $70.00, for a total value of $1,657,880.00. Following the completion of the transaction, the executive vice president owned 196,817 shares of the company's stock, valued at approximately $13,777,190. This represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 value of $168,717.50. Following the completion of the transaction, the treasurer directly owned 27,662 shares of the company's stock, valued at $2,143,805. This represents a 7.30% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

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.