Eagle Global Advisors LLC Trims Stock Holdings in NextEra Energy, Inc. $NEE

Key Points

• Eagle Global Advisors LLC has reduced its holdings in NextEra Energy, Inc. by 2.6%, now owning 298,036 shares valued at approximately $20.69 million.
• Other institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., have increased their holdings in NextEra Energy, reflecting a total ownership of 78.72% by hedge funds.
• NextEra Energy's quarterly earnings surpassed analysts' estimates, reporting $1.05 EPS on revenues of $6.70 billion, although it fell short of expected revenue projections.

Eagle Global Advisors LLC decreased its holdings in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 298,036 shares of the utilities provider's stock after selling 7,846 shares during the period. NextEra Energy accounts for about 0.8% of Eagle Global Advisors LLC's holdings, making the stock its 28th biggest position. Eagle Global Advisors LLC's holdings in NextEra Energy were worth $20,690,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of NextEra Energy by 1.0% in the first quarter. Vanguard Group Inc. now owns 207,322,418 shares of the utilities provider's stock valued at $14,697,086,000 after acquiring an additional 2,025,193 shares during the period. Northern Trust Corp boosted its position in shares of NextEra Energy by 1.1% in the first quarter. Northern Trust Corp now owns 23,353,245 shares of the utilities provider's stock valued at $1,655,512,000 after acquiring an additional 262,819 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of NextEra Energy by 6.7% in the first quarter. Goldman Sachs Group Inc. now owns 21,269,146 shares of the utilities provider's stock valued at $1,507,770,000 after acquiring an additional 1,336,259 shares during the period. GQG Partners LLC boosted its position in shares of NextEra Energy by 58.4% in the first quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider's stock valued at $1,221,896,000 after acquiring an additional 6,352,798 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of NextEra Energy by 20.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider's stock valued at $1,165,748,000 after acquiring an additional 2,815,629 shares during the period. Hedge funds and other institutional investors own 78.72% of the company's stock.

NextEra Energy Trading Up 1.6%

Shares of NextEra Energy stock opened at $75.84 on Friday. 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 $156.18 billion, a PE ratio of 26.52, a PEG ratio of 2.57 and a beta of 0.65. 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 company has a 50 day simple moving average of $72.63 and a two-hundred day simple moving average of $71.09.

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 for the quarter, topping analysts' consensus estimates of $1.01 by $0.04. The firm had revenue of $6.70 billion during 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 business's quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 EPS. Analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 28th were issued a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Thursday, August 28th. NextEra Energy's payout ratio is presently 79.02%.

Insider Buying and Selling at NextEra Energy

In other news, EVP Michael Dunne sold 10,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were 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 in the company, valued at approximately $4,393,510.56. The trade was a 13.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Treasurer James Michael May sold 2,177 shares of the business'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 sale, the treasurer owned 27,662 shares of the company's stock, valued at approximately $2,143,805. The trade was a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,369 shares of company stock valued at $1,539,610. Insiders own 0.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on NEE shares. Morgan Stanley restated an "overweight" rating and issued a $95.00 price objective (down from $96.00) on shares of NextEra Energy in a research report on Thursday. Melius Research upgraded shares of NextEra Energy to a "strong-buy" rating in a research report on Wednesday, August 20th. Barclays raised 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 report on Thursday, July 10th. Mizuho set a $78.00 target price on shares of NextEra Energy in a research report on Thursday, August 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of NextEra Energy from $86.00 to $87.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $84.08.

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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