43,596 Shares in NextEra Energy, Inc. (NYSE:NEE) Acquired by Castellan Group

Key Points

• Castellan Group has acquired 43,596 shares of NextEra Energy, Inc., valued at approximately $3,091,000, indicating growing interest in the utilities sector.
• In recent transactions, insiders at NextEra Energy sold significant portions of their shares, with the total insider sales in the last 90 days amounting to 33,361 shares, valued at $2,365,398.
• Research analysts have mixed views on NextEra Energy, with price target changes ranging from a decrease by HSBC to an increase by Barclays, indicating varying market sentiments.

Castellan Group bought a new position in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 43,596 shares of the utilities provider's stock, valued at approximately $3,091,000.

A number of other hedge funds also recently added to or reduced their stakes in NEE. Cim LLC increased its position 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. lifted its position in shares of NextEra Energy by 1.1% during the 1st quarter. Conning Inc. now owns 14,089 shares of the utilities provider's stock worth $999,000 after buying an additional 160 shares during the last quarter. Wealth Dimensions Group Ltd. lifted its position in shares of NextEra Energy by 4.3% during the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,877 shares of the utilities provider's stock worth $278,000 after buying an additional 161 shares during the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of NextEra Energy by 0.7% during the 1st quarter. Premier Path Wealth Partners LLC now owns 22,445 shares of the utilities provider's stock worth $1,591,000 after buying an additional 166 shares during the last quarter. Finally, Opal Wealth Advisors LLC lifted its position in shares of NextEra Energy by 2.9% during the 1st quarter. Opal Wealth Advisors LLC now owns 6,020 shares of the utilities provider's stock worth $427,000 after buying an additional 168 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NextEra Energy news, Treasurer James Michael May sold 2,177 shares of the company's 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 transaction, the treasurer directly owned 27,662 shares in the company, valued at approximately $2,143,805. This represents a 7.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Coffey sold 7,500 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $71.84, for a total transaction of $538,800.00. Following the completion of the transaction, the executive vice president directly owned 26,539 shares of the company's stock, 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. Insiders have sold 33,361 shares of company stock worth $2,365,398 in the last three months. Corporate insiders own 0.20% of the company's stock.

NextEra Energy Price Performance

Shares of NYSE:NEE traded down $0.65 on Friday, reaching $70.41. 6,627,959 shares of the company were exchanged, compared to its average volume of 9,376,540. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.10. The firm has a market cap of $144.99 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 2.42 and a beta of 0.63. The company has a 50-day moving average of $72.26 and a 200-day moving average of $70.53.

NextEra Energy (NYSE:NEE - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, topping the consensus estimate of $1.01 by $0.04. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period in the previous year, the firm earned $0.96 EPS. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. Equities analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share 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 given a $0.5665 dividend. The ex-dividend date is Thursday, August 28th. This represents a $2.27 annualized dividend and a dividend yield of 3.2%. NextEra Energy's payout ratio is currently 79.37%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NEE shares. BMO Capital Markets boosted their price objective on shares of NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Barclays lifted their target price on shares of NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. HSBC cut their target price on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Wells Fargo & Company cut their target price on shares of NextEra Energy from $102.00 to $97.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, UBS Group cut their target price on shares of NextEra Energy from $94.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, NextEra Energy has an average rating of "Moderate Buy" and a consensus price target of $84.42.

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.