NextEra Energy, Inc. $NEE Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its NextEra Energy stake by 26.2% in the second quarter, selling 2.52 million shares and retaining 7.13 million shares worth approximately $625.4 million. Institutional investors collectively own 78.72% of the company.
• Analysts remain broadly positive on NextEra Energy, with 17 Buy ratings and six Holds producing a “Moderate Buy” consensus and an average price target of $100.43.
• NextEra reported quarterly EPS of $1.15, beating estimates, while revenue rose 12.4% year over year to $7.53 billion. The company also declared a quarterly dividend of $0.6232 per share, equivalent to an annualized yield of about 2.9%.

Pictet Asset Management Holding SA lessened its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 26.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,125,641 shares of the utilities provider's stock after selling 2,523,279 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.34% of NextEra Energy worth $625,421,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NEE. Norges Bank acquired a new position in NextEra Energy in the 4th quarter valued at about $2,816,327,000. Employees Provident Fund Board purchased a new stake in NextEra Energy during the fourth quarter worth about $240,840,000. Vanguard Group Inc. lifted its position in shares of NextEra Energy by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 216,033,697 shares of the utilities provider's stock worth $17,343,185,000 after purchasing an additional 2,234,176 shares in the last quarter. Amundi boosted its stake in shares of NextEra Energy by 16.7% in the third quarter. Amundi now owns 12,461,783 shares of the utilities provider's stock valued at $1,012,129,000 after purchasing an additional 1,780,881 shares during the period. Finally, Caisse de depot et placement du Quebec boosted its stake in shares of NextEra Energy by 64.4% in the fourth quarter. Caisse de depot et placement du Quebec now owns 3,715,931 shares of the utilities provider's stock valued at $298,315,000 after purchasing an additional 1,456,185 shares during the period. Institutional investors and hedge funds own 78.72% of the company's stock.

Analysts Set New Price Targets

NEE has been the subject of a number of research reports. Sanford C. Bernstein restated an "outperform" rating and issued a $108.00 price objective on shares of NextEra Energy in a report on Monday, July 27th. BMO Capital Markets raised their price target on shares of NextEra Energy from $94.00 to $96.00 and gave the company an "outperform" rating in a research report on Monday, July 27th. BTIG Research restated a "buy" rating and issued a $112.00 price target on shares of NextEra Energy in a research note on Friday, April 24th. Mizuho set a $95.00 price target on shares of NextEra Energy in a research note on Monday, July 27th. Finally, Jefferies Financial Group set a $94.00 price objective on NextEra Energy in a research report on Tuesday, July 14th. Seventeen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, NextEra Energy has an average rating of "Moderate Buy" and an average price target of $100.43.

NextEra Energy Stock Down 1.1%

Shares of NextEra Energy stock opened at $84.97 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.53 and a debt-to-equity ratio of 1.45. NextEra Energy, Inc. has a 52-week low of $69.24 and a 52-week high of $98.75. The company has a market capitalization of $177.23 billion, a P/E ratio of 19.09, a P/E/G ratio of 2.35 and a beta of 0.67. The company has a 50 day moving average of $87.27 and a 200 day moving average of $89.92.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The utilities provider reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.04. NextEra Energy had a net margin of 32.40% and a return on equity of 12.28%. The company had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $8.11 billion. During the same period in the prior year, the firm posted $1.05 EPS. The company's quarterly revenue was up 12.4% compared to the same quarter last year. NextEra Energy has set its FY 2026 guidance at 3.920-4.020 EPS. As a group, research analysts forecast that NextEra Energy, Inc. will post 4.01 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 28th will be paid a $0.6232 dividend. The ex-dividend date is Friday, August 28th. This represents a $2.49 dividend on an annualized basis and a yield of 2.9%. NextEra Energy's dividend payout ratio (DPR) is currently 55.96%.

NextEra Energy Company Profile

NextEra Energy, Inc NYSE: NEE, headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company's principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra's activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source