NextEra Energy, Inc. $NEE Shares Sold by SVB Wealth LLC

Key Points

• SVB Wealth LLC has reduced its stake in NextEra Energy by 31.4%, holding now 190,786 shares valued at approximately $13.5 million.
• NextEra Energy's recent earnings report showed earnings per share of $1.05, exceeding analysts' expectations, while the company also announced a quarterly dividend of $0.5665 per share.
• Analysts have set a consensus rating of "Moderate Buy" for NextEra Energy, with an average target price of $84.23 for the company's stock.

SVB Wealth LLC trimmed its stake in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 31.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 190,786 shares of the utilities provider's stock after selling 87,507 shares during the quarter. NextEra Energy comprises 0.6% of SVB Wealth LLC's investment portfolio, making the stock its 26th biggest holding. SVB Wealth LLC's holdings in NextEra Energy were worth $13,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in NEE. Brighton Jones LLC lifted its position in NextEra Energy by 7.0% during the 4th quarter. Brighton Jones LLC now owns 28,282 shares of the utilities provider's stock worth $2,028,000 after acquiring an additional 1,840 shares during the period. Revolve Wealth Partners LLC lifted its position in NextEra Energy by 6.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,854 shares of the utilities provider's stock worth $348,000 after acquiring an additional 298 shares during the period. Dark Forest Capital Management LP lifted its position in NextEra Energy by 40.5% during the 4th quarter. Dark Forest Capital Management LP now owns 9,724 shares of the utilities provider's stock worth $697,000 after acquiring an additional 2,802 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of NextEra Energy by 49.4% in the 4th quarter. Integrated Wealth Concepts LLC now owns 66,427 shares of the utilities provider's stock valued at $4,762,000 after buying an additional 21,964 shares during the period. Finally, Stonebridge Capital Advisors LLC lifted its holdings in shares of NextEra Energy by 3.4% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 7,713 shares of the utilities provider's stock valued at $553,000 after buying an additional 251 shares during the period. 78.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NEE. BMO Capital Markets raised their price objective on NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Erste Group Bank downgraded NextEra Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. UBS Group dropped their price objective on NextEra Energy from $94.00 to $84.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Melius began coverage on NextEra Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $77.00 price objective for the company. Finally, JPMorgan Chase & Co. raised 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $84.23.

Insiders Place Their Bets

In related news, EVP Robert Coffey sold 7,500 shares of NextEra Energy 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 in the company, valued at approximately $1,906,561.76. This trade represents a 22.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Treasurer James Michael May sold 2,177 shares of NextEra Energy 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 owned 27,662 shares in the company, valued at $2,143,805. The trade was a 7.30% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

NextEra Energy Trading Down 1.2%

Shares of NEE stock traded down $0.93 during mid-day trading on Monday, hitting $75.39. 6,337,673 shares of the company's stock were exchanged, compared to its average volume of 9,069,239. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.10. The stock has a 50-day simple moving average of $73.08 and a two-hundred day simple moving average of $70.86. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.36. The stock has a market cap of $155.25 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.63 and a beta of 0.63.

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 business had revenue of $6.70 billion for the quarter, compared to analysts' expectations of $7.52 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The business's revenue was up 10.4% on a year-over-year basis. Equities analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 28th will be issued a $0.5665 dividend. The ex-dividend date is Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a yield of 3.0%. NextEra Energy's dividend payout ratio (DPR) is presently 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.