Farther Finance Advisors LLC Acquires 19,751 Shares of NextEra Energy, Inc. $NEE

Key Points

• Farther Finance Advisors LLC increased its stake in NextEra Energy by 39.4%, owning 69,838 shares worth approximately $4.8 million after acquiring additional shares in Q2.
• NextEra Energy reported a Q2 earnings per share of $1.05, exceeding analysts' estimates, but revenue of $6.70 billion fell short of expectations.
• The company announced a quarterly dividend of $0.5665, resulting in an annualized dividend yield of 3.2% and a payout ratio of 79.02%.

Farther Finance Advisors LLC grew its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 39.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,838 shares of the utilities provider's stock after buying an additional 19,751 shares during the period. Farther Finance Advisors LLC's holdings in NextEra Energy were worth $4,848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Vantage Wealth increased its holdings in NextEra Energy by 7.1% in the second quarter. Vantage Wealth now owns 248,435 shares of the utilities provider's stock worth $17,246,000 after purchasing an additional 16,500 shares in the last quarter. Harbour Capital Advisors LLC increased its holdings in NextEra Energy by 2.8% in the second quarter. Harbour Capital Advisors LLC now owns 28,574 shares of the utilities provider's stock worth $2,086,000 after purchasing an additional 775 shares in the last quarter. Butensky & Cohen Financial Security Inc. bought a new stake in NextEra Energy in the second quarter worth approximately $5,567,000. Wright Investors Service Inc. increased its holdings in NextEra Energy by 8.8% in the second quarter. Wright Investors Service Inc. now owns 39,928 shares of the utilities provider's stock worth $2,772,000 after purchasing an additional 3,242 shares in the last quarter. Finally, Global X Japan Co. Ltd. increased its holdings in NextEra Energy by 5.5% in the second quarter. Global X Japan Co. Ltd. now owns 8,773 shares of the utilities provider's stock worth $609,000 after purchasing an additional 460 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NEE shares. HSBC lowered their target price on NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a report on Friday, July 11th. Morgan Stanley reissued an "overweight" rating on shares of NextEra Energy in a research note on Thursday, August 21st. Barclays raised their price objective on NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. BMO Capital Markets lifted their target price on NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Finally, Melius initiated coverage on NextEra Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $77.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $84.00.

Insider Buying and Selling

In related news, EVP Mark Lemasney sold 846 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $71.90, for a total transaction of $60,827.40. Following the completion of the sale, the executive vice president directly owned 10,113 shares in the company, valued at $727,124.70. This represents a 7.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Treasurer James Michael May sold 2,177 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total value of $168,717.50. Following the sale, the treasurer owned 27,662 shares of the company's stock, valued at $2,143,805. This represents a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,523 shares of company stock valued at $1,476,245. 0.18% of the stock is owned by insiders.

NextEra Energy Price Performance

Shares of NEE traded down $0.05 during midday trading on Tuesday, reaching $72.30. The stock had a trading volume of 3,527,315 shares, compared to its average volume of 11,611,517. The company's 50-day moving average is $72.71 and its 200 day moving average is $71.07. NextEra Energy, Inc. has a 12-month low of $61.72 and a 12-month high of $86.10. 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 company has a market capitalization of $148.89 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 2.45 and a beta of 0.65.

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 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 during the quarter, compared to analysts' expectations of $7.52 billion. During the same period in the prior year, the business earned $0.96 EPS. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 28th were issued a dividend of $0.5665 per share. The ex-dividend date was Thursday, August 28th. This represents a $2.27 annualized dividend and a yield of 3.1%. NextEra Energy's dividend payout ratio is currently 79.37%.

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.