Burford Brothers Inc. Lowers Position in NextEra Energy, Inc. $NEE

Key Points

• Burford Brothers Inc. has reduced its stake in NextEra Energy, Inc. by 27.6% during the 2nd quarter, now owning 19,981 shares valued at approximately $1.39 million.
• Several hedge funds increased their positions in NextEra Energy, with Activest Wealth Management raising its stake by 79.7%.
• NextEra Energy recently reported a quarterly EPS of $1.05, surpassing estimates, but its revenue of $6.70 billion fell short of analyst expectations of $7.52 billion.

Burford Brothers Inc. lowered its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 27.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,981 shares of the utilities provider's stock after selling 7,615 shares during the quarter. Burford Brothers Inc.'s holdings in NextEra Energy were worth $1,387,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NEE. Activest Wealth Management raised its position in shares of NextEra Energy by 79.7% during the 2nd quarter. Activest Wealth Management now owns 354 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 157 shares during the period. Harbor Asset Planning Inc. purchased a new position in NextEra Energy in the 2nd quarter worth approximately $25,000. 1 North Wealth Services LLC bought a new position in NextEra Energy in the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. purchased a new stake in NextEra Energy during the 1st quarter valued at approximately $32,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of NextEra Energy during the 1st quarter worth approximately $35,000. 78.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on NEE. Mizuho set a $78.00 price objective on shares of NextEra Energy in a research note on Thursday, August 21st. Weiss Ratings reissued a "hold (c+)" rating on shares of NextEra Energy in a report on Tuesday, October 14th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $85.00 price target (up from $77.00) on shares of NextEra Energy in a research note on Tuesday. BMO Capital Markets lifted their price objective on NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, Melius assumed coverage on NextEra Energy in a research report on Wednesday, August 20th. They issued a "buy" rating and a $77.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.40.

NextEra Energy Trading Down 0.7%

NEE opened at $84.48 on Friday. The business has a fifty day moving average price of $75.54 and a 200 day moving average price of $72.24. The stock has a market capitalization of $173.97 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 2.85 and a beta of 0.66. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month 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 posted its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, topping the consensus estimate 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 net margin of 22.84% and a return on equity of 12.31%. The firm's revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.96 EPS. Sell-side analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 28th were given a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Thursday, August 28th. NextEra Energy's payout ratio is currently 79.37%.

Insider Transactions at NextEra Energy

In related news, Treasurer James Michael May sold 2,177 shares of the stock in a transaction on Tuesday, July 22nd. The shares were 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 of the company's stock, 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 accessible through the SEC website. Also, EVP Michael Dunne sold 10,000 shares of the business'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 sale, the executive vice president directly owned 62,064 shares of the company's stock, valued at approximately $4,393,510.56. This trade represents a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,705 shares of company stock worth $2,446,490. Insiders own 0.20% 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.

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