Frank Rimerman Advisors LLC Sells 8,804 Shares of NextEra Energy, Inc. (NYSE:NEE)

Key Points

• Frank Rimerman Advisors LLC reduced its stake in NextEra Energy by 30.2%, selling 8,804 shares and bringing its total ownership to 20,307 shares worth approximately $1.44 million.
• NextEra Energy reported earnings of $1.05 per share, exceeding estimates, but its revenue of $6.70 billion fell short of the forecasted $7.52 billion.
• The company declared a quarterly dividend of $0.5665 per share, resulting in an annual yield of 3.1%, which will be paid on September 15th.

Frank Rimerman Advisors LLC trimmed its holdings in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 30.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,307 shares of the utilities provider's stock after selling 8,804 shares during the period. Frank Rimerman Advisors LLC's holdings in NextEra Energy were worth $1,440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in NextEra Energy by 1.0% during 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 purchasing an additional 2,025,193 shares during the period. Northern Trust Corp grew its holdings in NextEra Energy by 9.6% during the fourth quarter. Northern Trust Corp now owns 23,090,426 shares of the utilities provider's stock valued at $1,655,353,000 after purchasing an additional 2,030,331 shares during the period. Goldman Sachs Group Inc. grew its holdings in NextEra Energy by 6.7% during 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 purchasing an additional 1,336,259 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in NextEra Energy by 20.7% during 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 purchasing an additional 2,815,629 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in NextEra Energy by 15.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,921,721 shares of the utilities provider's stock valued at $926,358,000 after purchasing an additional 1,707,933 shares during the period. 78.72% of the stock is owned by institutional investors.

NextEra Energy Stock Performance

Shares of NEE opened at $72.42 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. The firm has a fifty day simple moving average of $72.56 and a 200 day simple moving average of $70.56. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.10. The stock has a market capitalization of $149.13 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 2.49 and a beta of 0.63.

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 (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 for the quarter, compared to analyst estimates of $7.52 billion. During the same period in the prior year, the firm posted $0.96 earnings per share. The company's quarterly revenue was up 10.4% compared to the same quarter last year. Research analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 28th will be given a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, August 28th. NextEra Energy's dividend payout ratio is 79.37%.

Wall Street Analysts Forecast Growth

NEE has been the subject of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Erste Group Bank cut shares of NextEra Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. reduced their price target on shares of NextEra Energy from $86.00 to $82.00 in a report on Thursday, July 3rd. UBS Group reduced their price target on shares of NextEra Energy from $94.00 to $84.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Finally, Morgan Stanley reduced their price target on shares of NextEra Energy from $95.00 to $94.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $84.42.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, EVP Robert Coffey sold 7,500 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $71.84, for a total transaction of $538,800.00. Following the sale, the executive vice president directly owned 26,539 shares of the company's stock, 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 legal filing with the SEC, which is available through this hyperlink. Also, Treasurer James Michael May sold 2,177 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total transaction of $168,717.50. Following the completion of the transaction, the treasurer directly owned 27,662 shares in the company, valued at $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. Corporate insiders own 0.20% of the company's stock.

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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