Covea Finance Has $14.53 Million Stake in NextEra Energy, Inc. $NEE

Key Points

• Covea Finance increased its stake in NextEra Energy, Inc. by 18.4% during the second quarter, bringing its total holdings to $14.53 million.
• NextEra Energy reported earnings of $1.05 per share for the last quarter, exceeding expectations and showing a 10.4% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.5665, resulting in an annualized yield of 3.1%, with a dividend payout ratio of 79.37%.

Covea Finance raised its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 18.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 209,238 shares of the utilities provider's stock after purchasing an additional 32,563 shares during the period. Covea Finance's holdings in NextEra Energy were worth $14,525,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEE. Arkfeld Wealth Strategies L.L.C. increased its stake in shares of NextEra Energy by 0.9% in the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 15,249 shares of the utilities provider's stock valued at $1,140,000 after acquiring an additional 136 shares in the last quarter. Tradition Wealth Management LLC increased its stake in shares of NextEra Energy by 2.2% in the 1st quarter. Tradition Wealth Management LLC now owns 6,625 shares of the utilities provider's stock valued at $470,000 after acquiring an additional 143 shares in the last quarter. Cim LLC increased its stake 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 acquiring an additional 158 shares in the last quarter. Conning Inc. increased its stake in shares of NextEra Energy by 1.1% in the 1st quarter. Conning Inc. now owns 14,089 shares of the utilities provider's stock valued at $999,000 after acquiring an additional 160 shares in the last quarter. Finally, Moody National Bank Trust Division increased its stake in shares of NextEra Energy by 0.5% in the 2nd quarter. Moody National Bank Trust Division now owns 32,461 shares of the utilities provider's stock valued at $2,253,000 after acquiring an additional 164 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company's stock.

Insider Activity at NextEra Energy

In related news, EVP Robert Coffey sold 7,500 shares of the company'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 value of $538,800.00. Following the transaction, the executive vice president directly owned 26,539 shares in the company, valued at approximately $1,906,561.76. This represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Treasurer James Michael May sold 2,177 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total transaction of $168,717.50. Following the completion of the transaction, the treasurer owned 27,662 shares in the company, valued at approximately $2,143,805. This trade represents a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,523 shares of company stock valued at $1,476,245 in the last ninety days. 0.18% of the stock is currently owned by company insiders.

NextEra Energy Price Performance

NYSE NEE opened at $72.31 on Tuesday. The company has a market cap of $148.91 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 2.45 and a beta of 0.65. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $86.10. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.36. The firm's 50-day simple moving average is $72.71 and its two-hundred day simple moving average is $71.07.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.04. The firm had revenue of $6.70 billion for the quarter, compared to analysts' expectations of $7.52 billion. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The company's revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. Research analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 28th were given a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Thursday, August 28th. NextEra Energy's dividend payout ratio is 79.37%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Barclays lifted their price objective on shares of NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. BMO Capital Markets boosted their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Melius assumed coverage on shares of NextEra Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $77.00 price target for the company. Melius Research upgraded shares of NextEra Energy to a "strong-buy" rating in a research note on Wednesday, August 20th. Finally, HSBC decreased their price target on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, NextEra Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.00.

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.

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