Mackenzie Financial Corp Sells 46,149 Shares of NextEra Energy, Inc. (NYSE:NEE)

Key Points

• Mackenzie Financial Corp reduced its stake in NextEra Energy by 7.0%, selling 46,149 shares and lowering its holdings to 614,046 shares valued at approximately $43.53 million.
• The company reported an EPS of $1.05 for the last quarter, surpassing estimates, but its revenue was 10.4% higher year-over-year at $6.70 billion, falling short of analyst expectations.
• NextEra Energy announced a quarterly dividend of $0.5665 per share, yielding 3.15% annually, with a payout ratio of 79.02%.

Mackenzie Financial Corp lessened its holdings in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 614,046 shares of the utilities provider's stock after selling 46,149 shares during the quarter. Mackenzie Financial Corp's holdings in NextEra Energy were worth $43,530,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bellwether Advisors LLC bought a new position in shares of NextEra Energy in the fourth quarter valued at approximately $30,000. IMA Advisory Services Inc. acquired a new stake in shares of NextEra Energy in the first quarter worth $35,000. Copia Wealth Management acquired a new stake in shares of NextEra Energy in the fourth quarter worth $36,000. CBIZ Investment Advisory Services LLC grew its stake 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 worth $37,000 after acquiring an additional 366 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in shares of NextEra Energy in the first quarter worth $40,000. Institutional investors own 78.72% of the company's stock.

Analyst Upgrades and Downgrades

NEE has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of NextEra Energy from $86.00 to $82.00 in a research note on Thursday, July 3rd. Morgan Stanley lowered their price objective 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. Barclays lifted their price target on shares of NextEra Energy from $65.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Wells Fargo & Company decreased their price target on shares of NextEra Energy from $102.00 to $97.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Finally, UBS Group decreased their price target on shares of NextEra Energy from $94.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $84.42.

Insider Buying and Selling

In other NextEra Energy news, 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 directly owned 26,539 shares of the company's stock, valued at approximately $1,906,561.76. The trade was a 22.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Treasurer James Michael May sold 2,177 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total value of $168,717.50. Following the sale, the treasurer directly owned 27,662 shares of the company's stock, valued at $2,143,805. This represents a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,361 shares of company stock worth $2,365,398 in the last 90 days. Corporate insiders own 0.20% of the company's stock.

NextEra Energy Price Performance

Shares of NYSE NEE traded up $0.11 during midday trading on Thursday, reaching $71.10. 8,843,953 shares of the company traded hands, compared to its average volume of 9,362,326. The stock's 50-day simple moving average is $72.21 and its 200-day simple moving average is $70.50. 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, Inc. has a 12 month low of $61.72 and a 12 month high of $86.10. The firm has a market cap of $146.41 billion, a PE ratio of 24.86, a PEG ratio of 2.44 and a beta of 0.67.

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 the consensus estimate of $1.01 by $0.04. The business had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The firm's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. As a group, equities analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 28th will be given a dividend of $0.5665 per share. The ex-dividend date is Thursday, August 28th. This represents a $2.27 annualized dividend and a yield of 3.2%. NextEra Energy's dividend payout ratio is 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.