Bank of Hawaii Purchases 3,646 Shares of NextEra Energy, Inc. $NEE

Key Points

• Bank of Hawaii increased its stake in NextEra Energy, Inc. by 14.4% during the first quarter, bringing its total holdings to 28,977 shares valued at approximately $2,054,000.
• Other institutional investors, such as GQG Partners LLC and Charles Schwab Investment Management, also significantly boosted their positions in NextEra Energy, indicating strong interest in the company within the hedge fund community.
• NextEra Energy announced a quarterly dividend of $0.5665, which will be paid on September 15th, reflecting a 3.0% dividend yield with a payout ratio of approximately 79.37%.

Bank of Hawaii increased its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 14.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,977 shares of the utilities provider's stock after purchasing an additional 3,646 shares during the quarter. Bank of Hawaii's holdings in NextEra Energy were worth $2,054,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GQG Partners LLC lifted its position in NextEra Energy by 58.4% during the first quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider's stock valued at $1,221,896,000 after buying an additional 6,352,798 shares during the period. Two Sigma Advisers LP bought a new position in shares of NextEra Energy in the 4th quarter worth about $240,269,000. Charles Schwab Investment Management Inc. increased its stake in shares of NextEra Energy by 20.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider's stock worth $1,165,748,000 after acquiring an additional 2,815,629 shares in the last quarter. GAMMA Investing LLC lifted its position in NextEra Energy by 8,456.8% during the 1st quarter. GAMMA Investing LLC now owns 2,458,536 shares of the utilities provider's stock valued at $174,286,000 after acquiring an additional 2,429,804 shares during the period. Finally, Northern Trust Corp boosted its stake in NextEra Energy by 9.6% during the fourth quarter. Northern Trust Corp now owns 23,090,426 shares of the utilities provider's stock worth $1,655,353,000 after acquiring an additional 2,030,331 shares in the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of NextEra Energy from $95.00 to $94.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. BMO Capital Markets upped their price target on NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Melius Research raised NextEra Energy to a "strong-buy" rating in a research report on Wednesday, August 20th. Erste Group Bank cut NextEra Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, UBS Group cut their target price on NextEra Energy from $94.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, NextEra Energy has an average rating of "Moderate Buy" and an average price target of $84.23.

Insider Transactions at NextEra Energy

In other news, Treasurer James Michael May sold 2,177 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total value of $168,717.50. Following the transaction, the treasurer directly owned 27,662 shares in the company, valued at $2,143,805. This trade represents a 7.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $538,800.00. Following the completion of the transaction, the executive vice president directly owned 26,539 shares in the company, valued at approximately $1,906,561.76. This represents a 22.03% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

NextEra Energy Price Performance

Shares of NYSE NEE opened at $76.2270 on Monday. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month high of $86.10. The firm has a market cap of $156.97 billion, a P/E ratio of 26.65, a PEG ratio of 2.63 and a beta of 0.63. The company has a 50 day moving average of $73.04 and a 200 day moving average of $70.81. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.36.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, beating 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 business had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same period last year, the business posted $0.96 EPS. The company's revenue was up 10.4% compared to the same quarter last year. As a group, research analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Announces Dividend

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 issued a $0.5665 dividend. This represents a $2.27 annualized dividend and a yield of 3.0%. The ex-dividend date is Thursday, August 28th. NextEra Energy's dividend payout ratio (DPR) 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.

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