NextEra Energy, Inc. $NEE Shares Sold by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. reduced its holdings in NextEra Energy by 7.3%, selling 4,418 shares, leaving it with 56,023 shares worth approximately $3.89 million.
• NextEra Energy reported $1.05 earnings per share for the last quarter, exceeding analysts’ expectations of $1.01, but its revenue fell short at $6.7 billion compared to estimates of $7.52 billion.
• The company announced a quarterly dividend of $0.5665 per share, with a dividend yield of 2.7%, scheduled for payment on December 15th, to investors of record by November 21st.

First Citizens Bank & Trust Co. lowered its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 7.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,023 shares of the utilities provider's stock after selling 4,418 shares during the period. First Citizens Bank & Trust Co.'s holdings in NextEra Energy were worth $3,889,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Arkfeld Wealth Strategies L.L.C. raised its position in shares of NextEra Energy by 0.9% in the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 15,249 shares of the utilities provider's stock worth $1,140,000 after acquiring an additional 136 shares during the period. Pine Haven Investment Counsel Inc raised its position in shares of NextEra Energy by 2.3% in the second quarter. Pine Haven Investment Counsel Inc now owns 6,350 shares of the utilities provider's stock worth $441,000 after acquiring an additional 140 shares during the period. McKinley Carter Wealth Services Inc. raised its position in shares of NextEra Energy by 0.4% in the second quarter. McKinley Carter Wealth Services Inc. now owns 33,925 shares of the utilities provider's stock worth $2,355,000 after acquiring an additional 142 shares during the period. Tradition Wealth Management LLC raised its position in shares of NextEra Energy by 2.2% in the first quarter. Tradition Wealth Management LLC now owns 6,625 shares of the utilities provider's stock worth $470,000 after acquiring an additional 143 shares during the period. Finally, Tandem Capital Management Corp ADV raised its position in shares of NextEra Energy by 1.5% in the second quarter. Tandem Capital Management Corp ADV now owns 9,965 shares of the utilities provider's stock worth $692,000 after acquiring an additional 145 shares during the period. Institutional investors and hedge funds own 78.72% of the company's stock.

NextEra Energy Stock Up 0.6%

NEE opened at $83.30 on Friday. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month high of $86.74. The company has a market cap of $171.54 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 2.80 and a beta of 0.66. 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 company has a 50-day moving average price of $76.46 and a 200 day moving average price of $72.64.

NextEra Energy (NYSE:NEE - Get Free Report) last released its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, topping 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 net margin of 22.84% and a return on equity of 12.31%. The business's revenue was up 10.4% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS. Sell-side analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be given a dividend of $0.5665 per share. The ex-dividend date is Friday, November 21st. This represents a $2.27 dividend on an annualized basis and a yield of 2.7%. NextEra Energy's dividend payout ratio (DPR) is presently 79.02%.

Analysts Set New Price Targets

A number of brokerages have weighed in on NEE. Evercore ISI set a $92.00 price objective on shares of NextEra Energy and gave the stock an "outperform" rating in a research report on Monday, October 6th. Barclays set a $87.00 price objective on shares of NextEra Energy and gave the stock an "equal weight" rating in a research report on Tuesday. TD Cowen started coverage on shares of NextEra Energy in a research report on Thursday, October 16th. They set a "buy" rating and a $98.00 price target for the company. BMO Capital Markets upped their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, New Street Research set a $84.00 price target on shares of NextEra Energy in a research report on Monday, October 13th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, NextEra Energy presently has an average rating of "Moderate Buy" and an average target price of $88.38.

Insider Buying and Selling

In other NextEra Energy news, EVP Robert Coffey sold 7,500 shares of the company's 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 completion of the sale, the executive vice president directly owned 26,539 shares in the company, valued at $1,906,561.76. This represents a 22.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Lemasney sold 846 shares of the company's 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 completion of the sale, the executive vice president owned 9,267 shares of the company's stock, valued at approximately $694,098.30. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,528 shares of company stock worth $2,277,773. 0.20% of the stock is currently owned by corporate insiders.

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.

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