Fifth Third Bancorp Trims Holdings in NextEra Energy, Inc. $NEE

Key Points

• Fifth Third Bancorp has reduced its holdings in NextEra Energy, Inc. by 15.3%, owning approximately 1.66 million shares valued at $115.6 million after selling 301,942 shares in the second quarter.
• NextEra Energy received several positive upgrades from analysts, with a consensus rating of "Moderate Buy" and an average target price of $84.00 per share.
• Insider trading activity includes sales by company executives, with one EVP selling 10,000 shares for a total value of $707,900, reflecting a decrease in their ownership by 13.88%.

Fifth Third Bancorp lessened its holdings in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 15.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,665,881 shares of the utilities provider's stock after selling 301,942 shares during the period. Fifth Third Bancorp owned about 0.08% of NextEra Energy worth $115,645,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Sheets Smith Wealth Management increased its holdings in NextEra Energy by 3.0% during the 2nd quarter. Sheets Smith Wealth Management now owns 7,568 shares of the utilities provider's stock valued at $525,000 after purchasing an additional 221 shares during the period. Waycross Partners LLC purchased a new position in NextEra Energy during the 2nd quarter valued at about $374,000. Compagnie Lombard Odier SCmA increased its holdings in NextEra Energy by 6.6% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 531,101 shares of the utilities provider's stock valued at $36,869,000 after purchasing an additional 32,834 shares during the period. Covea Finance grew its holdings in shares of NextEra Energy by 18.4% during the 2nd quarter. Covea Finance now owns 209,238 shares of the utilities provider's stock worth $14,525,000 after acquiring an additional 32,563 shares during the period. Finally, Financial Partners Group Inc grew its holdings in shares of NextEra Energy by 2.0% during the 2nd quarter. Financial Partners Group Inc now owns 10,847 shares of the utilities provider's stock worth $753,000 after acquiring an additional 210 shares during the period. Hedge funds and other institutional investors own 78.72% of the company's stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, EVP Michael Dunne sold 10,000 shares of the company'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 directly owned 62,064 shares of the company's stock, valued at approximately $4,393,510.56. This represents a 13.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the executive vice president directly owned 26,539 shares in the company, valued at $1,906,561.76. This trade represents a 22.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,523 shares of company stock valued at $1,476,245. Insiders own 0.18% of the company's stock.

NextEra Energy Stock Performance

NextEra Energy stock opened at $72.27 on Wednesday. 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 company has a market capitalization of $148.81 billion, a P/E ratio of 25.27, a PEG ratio of 2.49 and a beta of 0.65. The stock's 50 day moving average is $72.66 and its 200 day moving average is $71.07. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month 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 for the quarter, topping the consensus estimate of $1.01 by $0.04. The company had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The firm's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 EPS. On average, equities research analysts predict 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. Investors of record on Thursday, August 28th were given a $0.5665 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.27 annualized dividend and a yield of 3.1%. NextEra Energy's dividend payout ratio is 79.02%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.