Beech Hill Advisors Inc. Lowers Position in NextEra Energy, Inc. $NEE

Key Points

• Beech Hill Advisors Inc. reduced its position in NextEra Energy, Inc. by 27.7% in the second quarter, holding 43,767 shares after selling 16,794 shares.
• NextEra Energy recently reported earnings per share of $1.05 for the quarter, exceeding expectations, although its revenue fell short of analyst estimates at $6.70 billion.
• The company announced a quarterly dividend of $0.5665, resulting in an annualized dividend of $2.27 and a yield of 2.7%.

Beech Hill Advisors Inc. reduced its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 27.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 43,767 shares of the utilities provider's stock after selling 16,794 shares during the quarter. NextEra Energy accounts for 1.4% of Beech Hill Advisors Inc.'s investment portfolio, making the stock its 29th largest position. Beech Hill Advisors Inc.'s holdings in NextEra Energy were worth $3,038,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of NextEra Energy by 1.0% in 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 buying an additional 2,025,193 shares during the period. Northern Trust Corp boosted its holdings in NextEra Energy by 1.1% during the 1st quarter. Northern Trust Corp now owns 23,353,245 shares of the utilities provider's stock valued at $1,655,512,000 after acquiring an additional 262,819 shares during the period. Goldman Sachs Group Inc. grew its position in NextEra Energy by 6.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 21,269,146 shares of the utilities provider's stock valued at $1,507,770,000 after acquiring an additional 1,336,259 shares in the last quarter. GQG Partners LLC increased its stake 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 worth $1,221,896,000 after purchasing an additional 6,352,798 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of NextEra Energy by 20.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider's stock worth $1,165,748,000 after purchasing an additional 2,815,629 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company's stock.

NextEra Energy Stock Up 0.3%

Shares of NYSE NEE opened at $84.80 on Tuesday. The business has a 50-day moving average of $75.78 and a two-hundred day moving average of $72.36. The company has a market capitalization of $174.63 billion, a price-to-earnings ratio of 29.65, a price-to-earnings-growth ratio of 2.85 and a beta of 0.66. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $86.74. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.54 and a quick ratio of 0.45.

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. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The business's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company earned $0.96 EPS. On average, analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 28th were issued a $0.5665 dividend. The ex-dividend date was Thursday, August 28th. This represents a $2.27 annualized dividend and a dividend yield of 2.7%. NextEra Energy's dividend payout ratio is presently 79.02%.

Insider Activity at NextEra Energy

In related news, EVP Mark Lemasney sold 846 shares of NextEra Energy stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $74.90, for a total transaction of $63,365.40. Following the sale, the executive vice president directly owned 9,267 shares in the company, valued at $694,098.30. This trade represents a 8.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Dunne sold 10,000 shares of the company's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $70.79, for a total transaction 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 $4,393,510.56. This represents a 13.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,528 shares of company stock valued at $2,277,773. Corporate insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Evercore ISI set a $92.00 price objective on shares of NextEra Energy and gave the company an "outperform" rating in a research note on Monday, October 6th. Morgan Stanley reissued an "overweight" rating and issued a $95.00 price target (down previously from $96.00) on shares of NextEra Energy in a research report on Thursday, September 25th. JPMorgan Chase & Co. upped their price objective on NextEra Energy from $86.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. BMO Capital Markets increased their price objective on NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Finally, TD Cowen began coverage on NextEra Energy in a research note on Thursday, October 16th. They set a "buy" rating and a $98.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $87.73.

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.

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