NextEra Energy, Inc. $NEE Holdings Trimmed by Praxis Investment Management Inc.

Key Points

• Praxis Investment Management Inc. reduced its holdings in NextEra Energy by 25.3%, ending up with 45,560 shares valued at approximately $3.16 million.
• Several institutional investors have increased their stakes in NextEra Energy, with GQG Partners LLC growing its position by 58.4% to a total of 17.24 million shares worth about $1.22 billion.
• NextEra Energy recently announced a quarterly dividend of $0.5665 per share, reflecting an annualized yield of 2.7% and a payout ratio of 79.37%.

Praxis Investment Management Inc. trimmed its position in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 25.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,560 shares of the utilities provider's stock after selling 15,440 shares during the period. Praxis Investment Management Inc.'s holdings in NextEra Energy were worth $3,163,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NEE. GQG Partners LLC grew its position in NextEra Energy by 58.4% during 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in NextEra Energy by 20.7% during 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 in the last quarter. Amundi grew its position in NextEra Energy by 27.8% during 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 in the last quarter. Vanguard Group Inc. grew its position in NextEra Energy by 1.0% during 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 in the last quarter. Finally, Boston Partners grew its position in NextEra Energy by 55.3% during 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 in 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 equities research analysts have issued reports on NEE shares. JPMorgan Chase & Co. lifted their target price on shares of NextEra Energy from $86.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Barclays lifted their target price on shares of NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Morgan Stanley reissued an "overweight" rating and set a $95.00 target price (down previously from $96.00) on shares of NextEra Energy in a research note on Thursday, September 25th. Weiss Ratings reissued a "hold (c+)" rating on shares of NextEra Energy in a research note on Tuesday. Finally, Cowen started coverage on shares of NextEra Energy in a research note on Wednesday. They set a "buy" rating for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, NextEra Energy has a consensus rating of "Moderate Buy" and an average target price of $86.40.

Insider Transactions at NextEra Energy

In related news, EVP Mark Lemasney sold 846 shares of NextEra Energy stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $74.90, for a total value of $63,365.40. Following the transaction, the executive vice president owned 9,267 shares in the company, valued at $694,098.30. This trade represents a 8.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Charles E. Sieving sold 11,336 shares of NextEra Energy stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $80.00, for a total transaction of $906,880.00. Following the completion of the transaction, the executive vice president owned 167,481 shares in the company, valued at $13,398,480. This trade represents a 6.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,705 shares of company stock worth $2,446,490. Corporate insiders own 0.20% of the company's stock.

NextEra Energy Stock Down 0.9%

NEE stock opened at $85.00 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. The firm has a market cap of $175.04 billion, a PE ratio of 29.72, a PEG ratio of 2.90 and a beta of 0.66. The company has a fifty day simple moving average of $75.30 and a 200 day simple moving average of $72.13. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $86.74.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.04. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The firm's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 EPS. Sell-side analysts anticipate 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 was paid on Monday, September 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.7%. NextEra Energy's dividend payout ratio is currently 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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