Farmers Trust Co. Has $6.69 Million Position in NextEra Energy, Inc. $NEE

Key Points

• Farmers Trust Co. reduced its position in NextEra Energy by 3.7%, now holding 96,312 shares, valued at approximately $6.69 million.
• NextEra Energy reported a 10.4% year-over-year revenue increase to $6.70 billion for the quarter, exceeding earnings estimates by $0.04 per share.
• The company recently declared a quarterly dividend of $0.5665 per share, representing an annual yield of 3.1% with a payout ratio of 79.37%.

Farmers Trust Co. lessened its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 3.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,312 shares of the utilities provider's stock after selling 3,690 shares during the period. NextEra Energy accounts for about 1.2% of Farmers Trust Co.'s portfolio, making the stock its 26th biggest holding. Farmers Trust Co.'s holdings in NextEra Energy were worth $6,686,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GQG Partners LLC increased its stake 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 buying an additional 6,352,798 shares during the period. Charles Schwab Investment Management Inc. increased its stake 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 buying an additional 2,815,629 shares during the period. Amundi increased its stake in shares of NextEra Energy by 27.8% in the first quarter. Amundi now owns 12,200,990 shares of the utilities provider's stock valued at $878,447,000 after buying an additional 2,657,438 shares during the period. GAMMA Investing LLC increased its stake in shares of NextEra Energy by 8,456.8% in the first quarter. GAMMA Investing LLC now owns 2,458,536 shares of the utilities provider's stock valued at $174,286,000 after buying an additional 2,429,804 shares during the period. Finally, Vanguard Group Inc. increased its stake 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 buying an additional 2,025,193 shares during the period. Institutional investors and hedge funds own 78.72% of the company's stock.

NextEra Energy Stock Up 1.7%

NEE stock opened at $72.31 on Tuesday. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month 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 stock's 50 day moving average is $72.71 and its 200-day moving average is $71.07. The firm has a market capitalization of $148.91 billion, a PE ratio of 25.28, a P/E/G ratio of 2.45 and a beta of 0.65.

NextEra Energy (NYSE:NEE - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same quarter last year, the company earned $0.96 earnings per share. The company's revenue for the quarter was up 10.4% on a year-over-year basis. Sell-side analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently announced 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 3.1%. The ex-dividend date was Thursday, August 28th. NextEra Energy's dividend payout ratio (DPR) is currently 79.37%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NEE. 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. JPMorgan Chase & Co. upped their target price on NextEra Energy from $86.00 to $87.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. BMO Capital Markets upped their target price on NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Mizuho set a $78.00 target price on NextEra Energy in a research report on Thursday, August 21st. Finally, Melius Research upgraded NextEra Energy to a "strong-buy" rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $84.00.

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 transaction, the executive vice president owned 62,064 shares in the company, valued at $4,393,510.56. This trade represents a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $538,800.00. Following the sale, the executive vice president directly owned 26,539 shares of the company's stock, valued at $1,906,561.76. The trade was a 22.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,523 shares of company stock worth $1,476,245 over the last three months. Company insiders own 0.18% of the company's stock.

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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