Mirae Asset Global Investments Co. Ltd. Sells 66,407 Shares of NextEra Energy, Inc. $NEE

Key Points

• Mirae Asset Global Investments Co. Ltd. reduced its holdings in NextEra Energy, Inc. by 20.2%, selling 66,407 shares and retaining a total of 263,002 shares valued at $18,258,000.
• NextEra Energy reported a quarterly earnings per share (EPS) of $1.05, exceeding analyst expectations of $1.01, with revenue of $6.70 billion.
• The company declared a quarterly dividend of $0.5665 per share, resulting in an annualized yield of 2.8% as part of a payout ratio of 79.37%.

Mirae Asset Global Investments Co. Ltd. cut its holdings in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 20.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 263,002 shares of the utilities provider's stock after selling 66,407 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in NextEra Energy were worth $18,258,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NEE. GQG Partners LLC increased its stake in NextEra Energy by 58.4% during 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 period. Charles Schwab Investment Management Inc. increased its stake in NextEra Energy by 20.7% during 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 period. Amundi increased its stake in NextEra Energy by 27.8% during the first quarter. Amundi now owns 12,200,990 shares of the utilities provider's stock valued at $878,447,000 after acquiring an additional 2,657,438 shares during the period. Vanguard Group Inc. grew its stake in shares of NextEra Energy by 1.0% in 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 purchasing an additional 2,025,193 shares during the period. Finally, Boston Partners grew its stake in shares of NextEra Energy by 55.3% in the 1st quarter. Boston Partners now owns 5,300,839 shares of the utilities provider's stock valued at $374,639,000 after purchasing an additional 1,886,999 shares during the period. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Stock Up 2.5%

NYSE:NEE opened at $80.12 on Friday. The stock's fifty day moving average price is $72.99 and its two-hundred day moving average price is $71.28. NextEra Energy, Inc. has a 52-week low of $61.72 and a 52-week high of $86.00. 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 company has a market cap of $164.98 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 2.76 and a beta of 0.66.

NextEra Energy (NYSE:NEE - Get Free Report) last posted its quarterly earnings data 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. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the prior year, the business earned $0.96 EPS. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. On average, analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current 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 dividend of $0.5665 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.27 annualized dividend and a yield of 2.8%. NextEra Energy's dividend payout ratio is currently 79.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on NextEra Energy from $86.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Melius assumed coverage on NextEra Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $77.00 price objective on the stock. HSBC lowered their price objective 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. Barclays boosted their target price on NextEra Energy from $65.00 to $67.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Finally, Mizuho set a $78.00 target price on NextEra Energy in a report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $84.08.

Insider Transactions at NextEra Energy

In other NextEra Energy news, Treasurer James Michael May sold 2,177 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total transaction of $168,717.50. Following the transaction, the treasurer owned 27,662 shares of the company's stock, valued at approximately $2,143,805. This represents a 7.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Lemasney sold 846 shares of the company's stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total value of $63,365.40. Following the transaction, the executive vice president directly owned 9,267 shares in the company, valued at approximately $694,098.30. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,369 shares of company stock worth $1,539,610 in the last quarter. 0.20% of the stock is owned by corporate 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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