Concurrent Investment Advisors LLC Grows Position in NextEra Energy, Inc. $NEE

Key Points

• Concurrent Investment Advisors LLC increased its position in NextEra Energy by 23.6%, owning 149,021 shares worth approximately $10.35 million at the end of the second quarter.
• Insider selling occurred recently, with EVP Michael Dunne and EVP Charles E. Sieving selling 10,000 and 11,336 shares, respectively, indicating a decrease in their ownership of the stock.
• NextEra Energy announced a quarterly dividend of $0.5665 per share, translating to an annualized yield of 2.7%, with a payout ratio of 79.02%.

Concurrent Investment Advisors LLC increased its position in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 23.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 149,021 shares of the utilities provider's stock after buying an additional 28,435 shares during the period. Concurrent Investment Advisors LLC's holdings in NextEra Energy were worth $10,345,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NEE. Arkfeld Wealth Strategies L.L.C. raised its holdings in NextEra Energy by 0.9% during the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 15,249 shares of the utilities provider's stock worth $1,140,000 after purchasing an additional 136 shares in the last quarter. Pine Haven Investment Counsel Inc raised its holdings in NextEra Energy by 2.3% during the second quarter. Pine Haven Investment Counsel Inc now owns 6,350 shares of the utilities provider's stock worth $441,000 after purchasing an additional 140 shares in the last quarter. McKinley Carter Wealth Services Inc. raised its holdings in NextEra Energy by 0.4% during the second quarter. McKinley Carter Wealth Services Inc. now owns 33,925 shares of the utilities provider's stock worth $2,355,000 after purchasing an additional 142 shares in the last quarter. Tradition Wealth Management LLC raised its holdings in NextEra Energy by 2.2% during the first quarter. Tradition Wealth Management LLC now owns 6,625 shares of the utilities provider's stock worth $470,000 after purchasing an additional 143 shares in the last quarter. Finally, Tandem Capital Management Corp ADV raised its holdings in NextEra Energy by 1.5% during the second quarter. Tandem Capital Management Corp ADV now owns 9,965 shares of the utilities provider's stock worth $692,000 after purchasing an additional 145 shares in the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Michael Dunne sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $70.79, for a total value 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 $4,393,510.56. This trade represents a 13.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles E. Sieving sold 11,336 shares of the firm's stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total value of $906,880.00. Following the completion of the sale, the executive vice president directly owned 167,481 shares of the company's stock, valued at $13,398,480. This represents a 6.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,705 shares of company stock worth $2,446,490 in the last three months. Company insiders own 0.20% of the company's stock.

NextEra Energy Price Performance

Shares of NYSE NEE opened at $83.30 on Friday. 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 stock has a fifty day moving average price of $74.20 and a 200 day moving average price of $71.74. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.00. The company has a market cap of $171.54 billion, a PE ratio of 29.13, a P/E/G ratio of 2.87 and a beta of 0.66.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.04. The company had revenue of $6.70 billion for 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%. NextEra Energy's revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. Sell-side analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

NEE has been the topic of a number of research analyst reports. Melius Research raised shares of NextEra Energy to a "strong-buy" rating in a report on Wednesday, August 20th. BMO Capital Markets raised their price objective on shares of NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Evercore ISI set a $92.00 price objective on shares of NextEra Energy and gave the stock an "outperform" rating in a report on Monday, October 6th. Morgan Stanley reaffirmed an "overweight" rating and issued a $95.00 target price (down from $96.00) on shares of NextEra Energy in a report on Thursday, September 25th. Finally, JPMorgan Chase & Co. increased their price target on shares of NextEra Energy from $86.00 to $87.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $85.08.

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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