Hobbs Group Advisors LLC Sells 5,391 Shares of NextEra Energy, Inc. $NEE

Key Points

• Hobbs Group Advisors LLC reduced its holdings in NextEra Energy by 53.1%, selling 5,391 shares and leaving it with 4,762 shares valued at approximately $331,000.
• NextEra Energy reported earnings of $1.05 per share, exceeding estimates, while revenue for the quarter was $6.70 billion, falling short of the expected $7.52 billion.
• The company's quarterly dividend of $0.5665 per share results in an annual yield of 2.7%, with a dividend payout ratio of 79.02%.

Hobbs Group Advisors LLC trimmed its position in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 53.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,762 shares of the utilities provider's stock after selling 5,391 shares during the period. Hobbs Group Advisors LLC's holdings in NextEra Energy were worth $331,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Arkfeld Wealth Strategies L.L.C. raised its position in shares of NextEra Energy by 0.9% during the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 15,249 shares of the utilities provider's stock valued at $1,140,000 after buying an additional 136 shares during the last quarter. Pine Haven Investment Counsel Inc raised its position in shares of NextEra Energy by 2.3% during the second quarter. Pine Haven Investment Counsel Inc now owns 6,350 shares of the utilities provider's stock valued at $441,000 after buying an additional 140 shares during the last quarter. McKinley Carter Wealth Services Inc. raised its position in shares of NextEra Energy by 0.4% during the second quarter. McKinley Carter Wealth Services Inc. now owns 33,925 shares of the utilities provider's stock valued at $2,355,000 after buying an additional 142 shares during the last quarter. Tradition Wealth Management LLC raised its position in shares of NextEra Energy by 2.2% during the first quarter. Tradition Wealth Management LLC now owns 6,625 shares of the utilities provider's stock valued at $470,000 after buying an additional 143 shares during the last quarter. Finally, Tandem Capital Management Corp ADV raised its position in shares of NextEra Energy by 1.5% during the second quarter. Tandem Capital Management Corp ADV now owns 9,965 shares of the utilities provider's stock valued at $692,000 after buying an additional 145 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Stock Performance

NYSE NEE opened at $83.30 on Friday. The firm has a market cap of $171.54 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 2.87 and a beta of 0.66. The company has a 50 day moving average of $74.20 and a 200-day moving average of $71.74. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.00.

NextEra Energy (NYSE:NEE - Get Free Report) last posted its quarterly earnings data 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 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 company's revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business posted $0.96 earnings per share. On average, equities analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 28th were issued a dividend of $0.5665 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.27 annualized dividend and a dividend yield of 2.7%. NextEra Energy's dividend payout ratio (DPR) is presently 79.02%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays upped 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. Evercore ISI set a $92.00 price objective on shares of NextEra Energy and gave the company an "outperform" rating in a research report on Monday, October 6th. Morgan Stanley reaffirmed an "overweight" rating and set a $95.00 price objective (down previously from $96.00) on shares of NextEra Energy in a research report on Thursday, September 25th. Melius Research raised shares of NextEra Energy to a "strong-buy" rating in a research report on Wednesday, August 20th. Finally, HSBC dropped their price target on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.08.

Insider Activity at NextEra Energy

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 shares were sold at an average price of $70.79, for a total transaction of $707,900.00. Following the completion of the sale, the executive vice president owned 62,064 shares of the company's stock, valued at approximately $4,393,510.56. This trade represents a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert Coffey sold 7,500 shares of the firm'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 transaction of $538,800.00. Following the completion of 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,705 shares of company stock valued at $2,446,490. Insiders own 0.20% of the company's stock.

NextEra Energy 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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