Procyon Advisors LLC Sells 4,022 Shares of NextEra Energy, Inc. $NEE

Key Points

• Procyon Advisors LLC reduced its stake in NextEra Energy by 30%, owning 9,387 shares worth approximately $652,000 after selling 4,022 shares in the second quarter.
• A number of institutional investors have adjusted their holdings in NextEra Energy, with 78.72% of the company’s stock now owned by this group.
• NextEra Energy announced a quarterly dividend of $0.5665 per share, resulting in an annualized dividend yield of 3.2%.

Procyon Advisors LLC lessened its holdings in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 30.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,387 shares of the utilities provider's stock after selling 4,022 shares during the period. Procyon Advisors LLC's holdings in NextEra Energy were worth $652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NEE. Tradition Wealth Management LLC boosted 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 buying an additional 143 shares during the period. Cim LLC boosted its position in shares of NextEra Energy by 0.5% in the fourth quarter. Cim LLC now owns 33,434 shares of the utilities provider's stock worth $2,397,000 after buying an additional 158 shares during the period. Conning Inc. boosted its position in shares of NextEra Energy by 1.1% in the first quarter. Conning Inc. now owns 14,089 shares of the utilities provider's stock worth $999,000 after buying an additional 160 shares during the period. Premier Path Wealth Partners LLC boosted its position in shares of NextEra Energy by 0.7% in the first quarter. Premier Path Wealth Partners LLC now owns 22,445 shares of the utilities provider's stock worth $1,591,000 after buying an additional 166 shares during the period. Finally, Opal Wealth Advisors LLC boosted its position in shares of NextEra Energy by 2.9% in the first quarter. Opal Wealth Advisors LLC now owns 6,020 shares of the utilities provider's stock worth $427,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 78.72% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on NEE shares. Morgan Stanley reissued an "overweight" rating on shares of NextEra Energy in a research report on Thursday, August 21st. BMO Capital Markets lifted their price objective on NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Melius started coverage on NextEra Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $77.00 price objective for the company. Mizuho set a $78.00 price objective on NextEra Energy in a research report on Thursday, August 21st. Finally, Barclays lifted their price objective on NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, NextEra Energy has an average rating of "Moderate Buy" and an average price target of $84.00.

NextEra Energy Stock Up 0.4%

NEE stock traded up $0.25 during trading hours on Friday, reaching $71.04. 14,817,505 shares of the stock were exchanged, compared to its average volume of 9,176,082. The firm's 50-day moving average is $72.77 and its 200-day moving average is $71.06. The company has a market cap of $146.29 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 2.45 and a beta of 0.65. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.54 and a quick ratio of 0.45. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.10.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.04. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. NextEra Energy's revenue was up 10.4% on a year-over-year basis. During the same period last year, the business posted $0.96 EPS. On average, equities research analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 28th were paid a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, August 28th. NextEra Energy's dividend payout ratio (DPR) is 79.02%.

Insider Activity

In other NextEra Energy news, Treasurer James Michael May sold 2,177 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total transaction of $168,717.50. Following the sale, the treasurer owned 27,662 shares of the company's stock, valued at approximately $2,143,805. The trade was a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Lemasney sold 846 shares of the business's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $71.90, for a total transaction of $60,827.40. Following the sale, the executive vice president directly owned 10,113 shares in the company, valued at approximately $727,124.70. The trade was a 7.72% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,523 shares of company stock valued at $1,476,245. 0.20% of the stock is owned by insiders.

NextEra Energy 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.