NextEra Energy, Inc. $NEE Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group cut its NextEra Energy stake by 29.2% in the third quarter, selling 831,468 shares and retaining about 2.02 million shares valued at $152.9 million.
• NextEra reported quarterly EPS of $1.24, beating the $1.20 consensus estimate, while revenue of $8.09 billion fell short of forecasts; revenue was up 1.6% year over year.
• The company declared a quarterly dividend of $0.6232 per share, equivalent to an annualized yield of about 2.9%. Analysts’ consensus rating was “Moderate Buy,” with a $97.80 average price target.

Aberdeen Group plc lowered its stake in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 29.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,018,086 shares of the utilities provider's stock after selling 831,468 shares during the quarter. Aberdeen Group plc owned about 0.10% of NextEra Energy worth $152,850,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NEE. Legal & General Group Plc acquired a new position in shares of NextEra Energy in the second quarter valued at approximately $1,465,987,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of NextEra Energy by 5.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,302,084 shares of the utilities provider's stock worth $1,430,834,000 after purchasing an additional 895,824 shares during the period. Amundi lifted its holdings in shares of NextEra Energy by 46.5% during the second quarter. Amundi now owns 13,329,077 shares of the utilities provider's stock worth $1,169,839,000 after purchasing an additional 4,231,814 shares during the period. GQG Partners LLC acquired a new stake in shares of NextEra Energy during the second quarter worth $651,293,000. Finally, Swiss National Bank grew its position in NextEra Energy by 7.1% in the 1st quarter. Swiss National Bank now owns 6,043,500 shares of the utilities provider's stock valued at $561,320,000 after buying an additional 400,300 shares during the last quarter. Institutional investors and hedge funds own 78.72% of the company's stock.

NextEra Energy Trading Down 0.1%

NYSE:NEE opened at $85.17 on Friday. The stock has a fifty day moving average price of $80.81 and a two-hundred day moving average price of $87.29. The stock has a market capitalization of $178.62 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 2.64 and a beta of 0.60. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.45 and a current ratio of 0.53. NextEra Energy, Inc. has a 1 year low of $74.41 and a 1 year high of $98.75.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its earnings results on Wednesday, October 21st. The utilities provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. NextEra Energy had a net margin of 40.37% and a return on equity of 12.27%. The company had revenue of $8.09 billion for the quarter, compared to analyst estimates of $8.47 billion. During the same period in the previous year, the firm earned $1.13 EPS. The business's revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that NextEra Energy, Inc. will post 4.01 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 27th will be given a dividend of $0.6232 per share. This represents a $2.49 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, November 27th. NextEra Energy's dividend payout ratio is presently 44.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Piper Sandler set a $88.00 price objective on shares of NextEra Energy in a research report on Tuesday, October 20th. BMO Capital Markets set a $88.00 target price on shares of NextEra Energy and gave the company an "outperform" rating in a report on Tuesday, October 20th. Mizuho lowered their target price on shares of NextEra Energy from $95.00 to $80.00 and set a "neutral" rating on the stock in a report on Tuesday, October 6th. Wall Street Zen upgraded shares of NextEra Energy from a "strong sell" rating to a "sell" rating in a research note on Saturday, October 17th. Finally, Wells Fargo & Company raised shares of NextEra Energy to a "strong-buy" rating in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, NextEra Energy has an average rating of "Moderate Buy" and a consensus price target of $97.80.

About NextEra Energy

NextEra Energy, Inc. is an energy company whose businesses include Florida Power & Light Company (FPL), a regulated electric utility, and NextEra Energy Resources, a developer and operator of energy infrastructure. FPL generates, transmits and distributes electricity to customers across Florida. NextEra Energy Resources develops and operates projects in North America, including wind and solar generation, battery storage, and natural gas and nuclear facilities. The company also invests in transmission infrastructure and provides energy-related services.

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