LGT Fund Management Co Ltd. Has $2.39 Million Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Key Points

• LGT Fund Management Co Ltd. decreased its holdings in NextEra Energy by 20.0%, selling 8,425 shares and owning 33,678 shares worth approximately $2.39 million.
• NextEra Energy recently announced a quarterly dividend of $0.5665, with an annualized dividend yield of 3.1%, to be paid on September 15th.
• The company's stock reported earnings per share of $1.05 for the last quarter, exceeding analyst expectations, despite revenue falling short of projections.

LGT Fund Management Co Ltd. lessened its holdings in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 20.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,678 shares of the utilities provider's stock after selling 8,425 shares during the period. LGT Fund Management Co Ltd.'s holdings in NextEra Energy were worth $2,387,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bellwether Advisors LLC bought a new stake in shares of NextEra Energy in the fourth quarter valued at about $30,000. IMA Advisory Services Inc. purchased a new position in shares of NextEra Energy in the 1st quarter valued at about $35,000. Copia Wealth Management acquired a new position in NextEra Energy during the fourth quarter worth approximately $36,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of NextEra Energy by 237.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 366 shares during the period. Finally, Hughes Financial Services LLC purchased a new stake in NextEra Energy during the first quarter worth $40,000. Institutional investors own 78.72% of the company's stock.

Analysts Set New Price Targets

NEE has been the subject of a number of recent analyst reports. UBS Group lowered their price objective on NextEra Energy from $94.00 to $84.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Barclays boosted their price target on NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Erste Group Bank downgraded 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 NextEra Energy from $86.00 to $82.00 in a report on Thursday, July 3rd. Finally, Morgan Stanley decreased their target price on shares of NextEra Energy from $95.00 to $94.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $84.42.

Insider Activity

In other NextEra Energy news, Treasurer James Michael May sold 2,177 shares of NextEra Energy stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total value of $168,717.50. Following the completion of the transaction, the treasurer owned 27,662 shares of the company's stock, valued at $2,143,805. The trade was a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Robert Coffey sold 7,500 shares of the business's stock in a transaction dated Monday, July 28th. The stock was 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 owned 26,539 shares in the company, valued at approximately $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. 0.20% of the stock is owned by insiders.

NextEra Energy Trading Up 4.4%

Shares of NEE stock traded up $3.16 on Friday, hitting $75.40. 23,396,505 shares of the stock traded hands, compared to its average volume of 8,521,072. The firm's 50-day moving average price is $72.75 and its two-hundred day moving average price is $70.61. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54. The stock has a market capitalization of $155.27 billion, a PE ratio of 26.36, a PEG ratio of 2.49 and a beta of 0.63. 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 issued its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.04. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The company 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 earned $0.96 earnings per share. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 28th will be given a $0.5665 dividend. The ex-dividend date is Thursday, August 28th. This represents a $2.27 annualized dividend and a dividend yield of 3.0%. NextEra Energy's payout ratio is currently 79.37%.

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.