Interchange Capital Partners LLC Lowers Stock Holdings in NextEra Energy, Inc. $NEE

Key Points

• Interchange Capital Partners LLC has drastically reduced its stake in NextEra Energy by 96.4%, now holding just 647 shares valued at approximately $45,000.
• Several institutional investors increased their holdings in NextEra Energy during the first quarter, with GQG Partners LLC notably raising their stake by 58.4%.
• NextEra Energy reported better-than-expected earnings of $1.05 per share, surpassing the consensus estimate of $1.01, despite revenue falling short of analyst predictions.

Interchange Capital Partners LLC reduced its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 96.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 647 shares of the utilities provider's stock after selling 17,177 shares during the period. Interchange Capital Partners LLC's holdings in NextEra Energy were worth $45,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEE. GQG Partners LLC grew its stake in shares of NextEra Energy by 58.4% during the 1st 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. grew its stake in shares of NextEra Energy by 20.7% during the 1st 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 grew its stake in shares of NextEra Energy by 27.8% during the 1st 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. Vanguard Group Inc. grew its stake in shares of NextEra Energy by 1.0% during the 1st 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. Finally, Boston Partners grew its stake in shares of NextEra Energy by 55.3% during the 1st quarter. Boston Partners now owns 5,300,839 shares of the utilities provider's stock valued at $374,639,000 after buying an additional 1,886,999 shares during the period. 78.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NextEra Energy

In other NextEra Energy news, EVP Charles E. Sieving sold 11,336 shares of the business's stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total value of $906,880.00. Following the transaction, the executive vice president owned 167,481 shares in the company, valued at $13,398,480. The trade was a 6.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark Lemasney sold 846 shares of the business's stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the transaction, the executive vice president owned 9,267 shares in the company, valued at $694,098.30. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,705 shares of company stock worth $2,446,490 over the last three months. Insiders own 0.20% of the company's stock.

NextEra Energy Stock Performance

NYSE:NEE opened at $85.73 on Thursday. 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 market capitalization of $176.53 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 2.86 and a beta of 0.66. The firm's fifty day simple moving average is $75.05 and its 200 day simple moving average is $72.03. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month high of $86.49.

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 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 business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same quarter in the previous year, the business posted $0.96 EPS. The business's quarterly revenue was up 10.4% on a year-over-year basis. As a group, equities research analysts expect 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. Shareholders of record on Thursday, August 28th were issued a $0.5665 dividend. The ex-dividend date was Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a yield of 2.6%. NextEra Energy's payout ratio is currently 79.37%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Melius assumed coverage on shares of NextEra Energy in a research note on Wednesday, August 20th. They set a "buy" rating and a $77.00 price objective for the company. Weiss Ratings reissued a "hold (c+)" rating on shares of NextEra Energy in a research note on Tuesday. 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 research note on Monday, July 21st. HSBC reduced their target price on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of NextEra Energy from $86.00 to $87.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.57.

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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