First Business Financial Services Inc. Raises Stock Holdings in NextEra Energy, Inc. $NEE

Key Points

• First Business Financial Services Inc. increased its stake in NextEra Energy, Inc. by 22.2% in Q2, owning 32,379 shares worth approximately $2.25 million.
• NextEra Energy reported $1.05 EPS for the last quarter, exceeding expectations, with revenues of $6.7 billion but falling short of analyst estimates.
• The firm announced a quarterly dividend of $0.5665 per share, with an annualized yield of 2.7%, set to be paid on December 15th.

First Business Financial Services Inc. lifted its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 22.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,379 shares of the utilities provider's stock after acquiring an additional 5,878 shares during the quarter. First Business Financial Services Inc.'s holdings in NextEra Energy were worth $2,248,000 as of its most recent filing with the Securities & Exchange Commission.

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

NextEra Energy Stock Performance

NYSE NEE opened at $83.30 on Friday. The business's 50 day moving average price is $76.46 and its 200-day moving average price is $72.64. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.74. The company has a market cap of $171.54 billion, a P/E ratio of 29.13, a P/E/G ratio of 2.80 and a beta of 0.66. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54.

NextEra Energy (NYSE:NEE - Get Free Report) last released its 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. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same quarter last year, the business earned $0.96 EPS. The business's revenue was up 10.4% on a year-over-year basis. Sell-side analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be issued a dividend of $0.5665 per share. The ex-dividend date is Friday, November 21st. This represents a $2.27 dividend on an annualized basis and a yield of 2.7%. NextEra Energy's payout ratio is presently 79.02%.

Insiders Place Their Bets

In related news, EVP Michael Dunne sold 10,000 shares of the business'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 completion of the sale, the executive vice president owned 62,064 shares in the company, valued at approximately $4,393,510.56. The trade was a 13.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Lemasney sold 846 shares of the firm's stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total value of $63,365.40. Following the transaction, the executive vice president owned 9,267 shares in the company, valued at $694,098.30. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,528 shares of company stock worth $2,277,773. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NEE shares. Evercore ISI set a $92.00 price target on shares of NextEra Energy and gave the stock an "outperform" rating in a research note on Monday, October 6th. BMO Capital Markets lifted their price objective on shares of NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. HSBC decreased their target price on NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Weiss Ratings restated a "hold (c+)" rating on shares of NextEra Energy in a report on Tuesday, October 14th. Finally, TD Cowen began coverage on NextEra Energy in a report on Thursday, October 16th. They set a "buy" rating and a $98.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $88.38.

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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