Neville Rodie & Shaw Inc. Reduces Stock Holdings in NextEra Energy, Inc. $NEE

Key Points

• Neville Rodie & Shaw Inc. has reduced its stake in NextEra Energy, Inc. by 3.2%, selling 5,950 shares during the second quarter, leaving them with 177,691 shares valued at $12.34 million.
• Multiple hedge funds have adjusted their positions in NextEra Energy, with some, like Viking Fund Management LLC, increasing their holdings dramatically by 67.8%, while others have made smaller adjustments.
• NextEra Energy's stock has received a range of analyst ratings, with a current consensus of "Moderate Buy" and an average price target of $84.00.

Neville Rodie & Shaw Inc. lowered its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,691 shares of the utilities provider's stock after selling 5,950 shares during the quarter. Neville Rodie & Shaw Inc.'s holdings in NextEra Energy were worth $12,335,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Somerset Trust Co increased its position in shares of NextEra Energy by 5.2% in the first quarter. Somerset Trust Co now owns 89,709 shares of the utilities provider's stock valued at $6,359,000 after buying an additional 4,445 shares in the last quarter. Elyxium Wealth LLC purchased a new stake in NextEra Energy during the 1st quarter worth about $783,000. Viking Fund Management LLC increased its position in NextEra Energy by 67.8% during the 1st 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 in the last quarter. Trust Co. of Vermont increased its position in NextEra Energy by 2.2% during the 1st 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 in the last quarter. Finally, Tema Etfs LLC increased its position in NextEra Energy by 835.9% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 78.72% of the company's stock.

Analyst Upgrades and Downgrades

NEE has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on NextEra Energy from $86.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. Barclays lifted their price objective on NextEra Energy from $65.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. BMO Capital Markets lifted their price objective on NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. HSBC dropped their price objective on NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Finally, Mizuho set a $78.00 price objective on NextEra Energy in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $84.00.

Insider Activity

In other news, EVP Robert Coffey sold 7,500 shares of NextEra Energy stock in a transaction dated 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 directly owned 26,539 shares of the company's stock, valued at $1,906,561.76. The trade was a 22.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 in the company, valued at $4,393,510.56. This represents a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,677 shares of company stock valued at $1,415,418 in the last three months. Corporate insiders own 0.20% of the company's stock.

NextEra Energy Stock Up 0.5%

Shares of NYSE:NEE opened at $71.66 on Friday. The stock's 50-day moving average price is $73.10 and its two-hundred day moving average price is $71.06. 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 firm has a market cap of $147.57 billion, a price-to-earnings ratio of 25.06, a PEG 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $7.52 billion. During the same period last year, the company earned $0.96 EPS. The firm's quarterly revenue was up 10.4% on a year-over-year basis. On average, research analysts forecast 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 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 3.2%. The ex-dividend date of this dividend is Thursday, August 28th. NextEra Energy's payout ratio is currently 79.37%.

NextEra Energy Company 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.

Want to see what other hedge funds are holding NEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NextEra Energy, Inc. (NYSE:NEE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.