Corebridge Financial Inc. Has $33.89 Million Position in NextEra Energy, Inc. $NEE

Key Points

• Corebridge Financial Inc. reduced its holdings in NextEra Energy, Inc. by 3.5%, owning 478,019 shares valued at approximately $33.9 million after selling 17,548 shares.
• Various institutional investors, including Somerset Trust Co. and Viking Fund Management LLC, increased their positions in NextEra Energy during the first quarter, highlighting strong investor interest.
• Analysts have recently adjusted their price targets for NextEra Energy, with UBS Group cutting its target from $94.00 to $84.00, while several firms maintain a positive outlook with ratings ranging from "Buy" to "Strong Buy."

Corebridge Financial Inc. cut its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 478,019 shares of the utilities provider's stock after selling 17,548 shares during the period. Corebridge Financial Inc.'s holdings in NextEra Energy were worth $33,887,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thomas J. Herzfeld Advisors Inc. raised its stake in shares of NextEra Energy by 74.9% in the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 46,697 shares of the utilities provider's stock worth $3,310,000 after acquiring an additional 20,000 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in NextEra Energy by 571.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,526 shares of the utilities provider's stock worth $179,000 after acquiring an additional 2,150 shares during the last quarter. Mirova boosted its stake in NextEra Energy by 0.5% during the 1st quarter. Mirova now owns 49,772 shares of the utilities provider's stock worth $3,528,000 after acquiring an additional 254 shares during the last quarter. Synovus Financial Corp boosted its stake in NextEra Energy by 12.4% during the 1st quarter. Synovus Financial Corp now owns 130,627 shares of the utilities provider's stock worth $9,260,000 after acquiring an additional 14,443 shares during the last quarter. Finally, ICONIQ Capital LLC boosted its stake in NextEra Energy by 33.5% during the 1st quarter. ICONIQ Capital LLC now owns 7,901 shares of the utilities provider's stock worth $560,000 after acquiring an additional 1,981 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NextEra Energy

In related news, Treasurer James Michael May sold 2,177 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total transaction of $168,717.50. Following the sale, the treasurer owned 27,662 shares in the company, valued at approximately $2,143,805. This trade represents a 7.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robert Coffey sold 7,500 shares of the 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. The trade was a 22.03% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

NEE has been the topic of several recent analyst reports. HSBC reduced their price objective on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Morgan Stanley restated an "overweight" rating on shares of NextEra Energy in a report on Thursday, August 21st. JPMorgan Chase & Co. raised their target price on shares of NextEra Energy from $86.00 to $87.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. UBS Group dropped 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. Finally, Barclays increased their price target on NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, NextEra Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.79.

NextEra Energy Price Performance

Shares of NYSE NEE traded down $1.79 during trading hours on Thursday, hitting $72.10. 10,916,523 shares of the stock were exchanged, compared to its average volume of 9,115,926. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54. The company has a market cap of $148.48 billion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 2.54 and a beta of 0.63. The company's fifty day simple moving average is $73.18 and its two-hundred day simple moving average is $70.91. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.10.

NextEra Energy (NYSE:NEE - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) 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 net margin of 22.84% and a return on equity of 12.31%. The firm's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS. On average, sell-side analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 28th will be given a dividend of $0.5665 per share. The ex-dividend date is Thursday, August 28th. This represents a $2.27 annualized dividend and a dividend yield of 3.1%. NextEra Energy's dividend payout ratio (DPR) is currently 79.37%.

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.