Mitchell Capital Management Co. Reduces Holdings in NextEra Energy, Inc. $NEE

Key Points

• Mitchell Capital Management Co. cut its holdings in NextEra Energy, Inc. by 40% in the second quarter, selling 21,071 shares and holding 31,618 shares valued at approximately $2.4 million.
• Insider selling has been noted, with executives Michael Dunne and Mark Lemasney selling significant amounts of stock, representing decreases of 13.88% and 8.37% in their respective ownership.
• NextEra Energy recently reported earnings per share of $1.05, exceeding expectations, but revenue fell short at $6.70 billion compared to analyst estimates.

Mitchell Capital Management Co. trimmed its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 40.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,618 shares of the utilities provider's stock after selling 21,071 shares during the period. Mitchell Capital Management Co.'s holdings in NextEra Energy were worth $2,401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NEE. GQG Partners LLC lifted its position in shares of NextEra Energy by 58.4% in the 1st quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider's stock worth $1,221,896,000 after purchasing an additional 6,352,798 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of NextEra Energy by 20.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider's stock worth $1,165,748,000 after purchasing an additional 2,815,629 shares during the period. Amundi lifted its position in shares of NextEra Energy by 27.8% in the 1st quarter. Amundi now owns 12,200,990 shares of the utilities provider's stock worth $878,447,000 after purchasing an additional 2,657,438 shares during the period. Vanguard Group Inc. lifted its position 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 worth $14,697,086,000 after purchasing an additional 2,025,193 shares during the period. Finally, Boston Partners lifted its position 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 worth $374,639,000 after purchasing an additional 1,886,999 shares during the period. 78.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NextEra Energy news, EVP Michael Dunne sold 10,000 shares of NextEra Energy stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $70.79, for a total value of $707,900.00. Following the completion of the transaction, the executive vice president directly owned 62,064 shares of the company's stock, valued at approximately $4,393,510.56. The trade was a 13.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Lemasney sold 846 shares of NextEra Energy stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the transaction, the executive vice president directly owned 9,267 shares of the company's stock, valued at $694,098.30. This trade represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,705 shares of company stock valued at $2,446,490. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NEE. Melius Research raised shares of NextEra Energy to a "strong-buy" rating in a research report on Wednesday, August 20th. HSBC lowered their price target on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Evercore ISI set a $92.00 price target on shares of NextEra Energy and gave the company an "outperform" rating in a research report on Monday, October 6th. Mizuho set a $78.00 price target on shares of NextEra Energy in a research report on Thursday, August 21st. Finally, BMO Capital Markets lifted their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, NextEra Energy has an average rating of "Moderate Buy" and an average target price of $85.08.

NextEra Energy Stock Down 0.5%

Shares of NextEra Energy stock opened at $83.30 on Monday. 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 $171.54 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 2.82 and a beta of 0.66. NextEra Energy, Inc. has a 52-week low of $61.72 and a 52-week high of $86.00. The company has a 50-day simple moving average of $74.20 and a two-hundred day simple moving average of $71.75.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its 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 during 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%. The business'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 company earned $0.96 earnings per share. On average, analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 28th were issued a $0.5665 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.27 annualized dividend and a yield of 2.7%. NextEra Energy's 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.

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