Meiji Yasuda Asset Management Co Ltd. Has $17.90 Million Stake in NextEra Energy, Inc. $NEE

Key Points

• Meiji Yasuda Asset Management Co Ltd. has reduced its stake in NextEra Energy, Inc. by 24.1%, selling 80,100 shares, and now holds 252,518 shares worth approximately $17.9 million.
• Insider transactions show significant activity, with Treasurer James Michael May and EVP Robert Coffey both selling shares recently, leading to substantial decreases in their stock ownership.
• NextEra Energy declared a quarterly dividend of $0.5665 per share, with a dividend yield of 3.2%, set to be paid on September 15th to shareholders recorded by August 28th.

Meiji Yasuda Asset Management Co Ltd. lessened its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 24.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 252,518 shares of the utilities provider's stock after selling 80,100 shares during the period. NextEra Energy comprises about 0.7% of Meiji Yasuda Asset Management Co Ltd.'s investment portfolio, making the stock its 24th largest position. Meiji Yasuda Asset Management Co Ltd.'s holdings in NextEra Energy were worth $17,901,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Somerset Trust Co boosted its holdings in NextEra Energy by 5.2% in the first quarter. Somerset Trust Co now owns 89,709 shares of the utilities provider's stock worth $6,359,000 after purchasing an additional 4,445 shares during the period. Elyxium Wealth LLC acquired a new position in NextEra Energy in the first quarter worth $783,000. Viking Fund Management LLC boosted its holdings in NextEra Energy by 67.8% in the first quarter. Viking Fund Management LLC now owns 495,000 shares of the utilities provider's stock worth $35,091,000 after purchasing an additional 200,000 shares during the period. Trust Co. of Vermont boosted its holdings in NextEra Energy by 2.2% in the first quarter. Trust Co. of Vermont now owns 385,592 shares of the utilities provider's stock worth $27,335,000 after purchasing an additional 8,472 shares during the period. Finally, Tema Etfs LLC boosted its holdings in NextEra Energy by 835.9% in the first quarter. Tema Etfs LLC now owns 50,839 shares of the utilities provider's stock worth $3,604,000 after purchasing an additional 45,407 shares during the period. Institutional investors and hedge funds own 78.72% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NEE shares. HSBC decreased their price objective on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a report on Friday, July 11th. Melius started coverage on shares of NextEra Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $77.00 price target for the company. Mizuho set a $78.00 price target on shares of NextEra Energy in a report on Thursday, August 21st. Melius Research raised shares of NextEra Energy to a "strong-buy" rating in a report on Wednesday, August 20th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $84.00.

Insiders Place Their Bets

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 sale, the executive vice president owned 26,539 shares in the company, valued at approximately $1,906,561.76. The trade was a 22.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 owned 27,662 shares in the company, valued at approximately $2,143,805. The trade was a 7.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,677 shares of company stock worth $1,415,418. Company insiders own 0.20% of the company's stock.

NextEra Energy Price Performance

NextEra Energy stock traded up $0.34 during midday trading on Friday, hitting $71.66. The company's stock had a trading volume of 9,343,417 shares, compared to its average volume of 10,011,098. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.36. The stock's 50-day moving average price is $73.10 and its 200-day moving average price is $71.06. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.10. The company has a market capitalization of $147.57 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 2.46 and a beta of 0.65.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, topping the consensus estimate of $1.01 by $0.04. The firm had revenue of $6.70 billion for the quarter, compared to analysts' expectations of $7.52 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. NextEra Energy's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 earnings per share. Analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

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