MetLife Investment Management LLC Reduces Stock Position in NextEra Energy, Inc. $NEE

Key Points

• MetLife Investment Management LLC reduced its stake in NextEra Energy by 1.9%, now holding 534,122 shares worth approximately $37.86 million.
• Several large investors, including Vanguard Group and Goldman Sachs, increased their holdings in NextEra Energy, indicating strong institutional interest in the stock.
• NextEra Energy recently announced a quarterly dividend of $0.5665, representing an annualized dividend yield of 3.0%, with a payout ratio of 79.02%.

MetLife Investment Management LLC cut its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 1.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 534,122 shares of the utilities provider's stock after selling 10,175 shares during the period. MetLife Investment Management LLC's holdings in NextEra Energy were worth $37,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in NextEra Energy by 1.0% in the first quarter. Vanguard Group Inc. now owns 207,322,418 shares of the utilities provider's stock valued at $14,697,086,000 after acquiring an additional 2,025,193 shares during the last quarter. Northern Trust Corp lifted its holdings in NextEra Energy by 1.1% in the first quarter. Northern Trust Corp now owns 23,353,245 shares of the utilities provider's stock valued at $1,655,512,000 after acquiring an additional 262,819 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in NextEra Energy by 6.7% in the first quarter. Goldman Sachs Group Inc. now owns 21,269,146 shares of the utilities provider's stock valued at $1,507,770,000 after acquiring an additional 1,336,259 shares during the last quarter. GQG Partners LLC lifted its holdings in NextEra Energy by 58.4% in the first quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider's stock valued at $1,221,896,000 after acquiring an additional 6,352,798 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in NextEra Energy by 20.7% in the first 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 acquiring an additional 2,815,629 shares during the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Melius Research upgraded NextEra Energy to a "strong-buy" rating in a report on Wednesday. BMO Capital Markets upped their price target on NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Erste Group Bank cut NextEra Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. HSBC decreased their price target on NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Finally, Melius initiated coverage on NextEra Energy in a research note on Wednesday. They set a "buy" rating and a $77.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, NextEra Energy presently has a consensus rating of "Moderate Buy" and an average target price of $84.23.

NextEra Energy Stock Up 0.2%

Shares of NYSE NEE opened at $76.2270 on Friday. The stock has a market cap of $156.97 billion, a P/E ratio of 26.65, a PEG ratio of 2.63 and a beta of 0.63. 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 12-month low of $61.72 and a 12-month high of $86.10. The business's fifty day simple moving average is $73.04 and its 200-day simple moving average is $70.80.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.04. The business had revenue of $6.70 billion for the quarter, compared to analysts' expectations of $7.52 billion. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The company's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the firm earned $0.96 earnings per share. As a group, equities analysts predict that NextEra Energy, Inc. will post 3.68 EPS 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. Stockholders of record on Thursday, August 28th will be paid a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Thursday, August 28th. NextEra Energy's dividend payout ratio (DPR) is presently 79.02%.

Insider Buying and Selling at NextEra Energy

In related news, EVP Robert Coffey sold 7,500 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $71.84, for a total value of $538,800.00. Following the transaction, the executive vice president owned 26,539 shares of the company's stock, valued at $1,906,561.76. This represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Treasurer James Michael May sold 2,177 shares of the 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 directly owned 27,662 shares in the company, valued at $2,143,805. This trade represents a 7.30% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

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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