NextEra Energy, Inc. $NEE Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group reduced its NextEra Energy stake by 2.7% in the third quarter, selling 124,827 shares and retaining 4.52 million shares valued at approximately $342.3 million. Institutional investors collectively own 78.72% of the company.
• NextEra reported quarterly earnings of $1.24 per share, beating estimates of $1.20, while revenue reached $8.09 billion, below expectations but up 1.6% year over year. The company declared a quarterly dividend of $0.6232, equivalent to a 3.0% annual yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $97.80 versus the reported share price of $83.82.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,519,880 shares of the utilities provider's stock after selling 124,827 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of NextEra Energy worth $342,336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Pin Oak Investment Advisors Inc. acquired a new position in NextEra Energy in the second quarter valued at approximately $26,000. Kilter Group LLC bought a new position in shares of NextEra Energy during the second quarter valued at approximately $25,000. Manning & Napier Advisors LLC acquired a new stake in shares of NextEra Energy during the 2nd quarter worth approximately $26,000. Axiom Investment Management LLC acquired a new stake in shares of NextEra Energy during the 1st quarter worth approximately $32,000. Finally, Financial Network Wealth Advisors LLC raised its position in shares of NextEra Energy by 83.0% during the 2nd quarter. Financial Network Wealth Advisors LLC now owns 344 shares of the utilities provider's stock worth $30,000 after purchasing an additional 156 shares during the period. Institutional investors and hedge funds own 78.72% of the company's stock.

NextEra Energy Price Performance

Shares of NYSE:NEE opened at $83.82 on Friday. The firm's 50 day moving average is $80.24 and its two-hundred day moving average is $87.17. NextEra Energy, Inc. has a 52 week low of $74.41 and a 52 week high of $98.75. The firm has a market capitalization of $175.80 billion, a P/E ratio of 15.10, a PEG ratio of 2.59 and a beta of 0.64. The company has a current ratio of 0.53, a quick ratio of 0.45 and a debt-to-equity ratio of 1.33.

NextEra Energy (NYSE:NEE - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The utilities provider reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The company had revenue of $8.09 billion for the quarter, compared to analysts' expectations of $8.47 billion. NextEra Energy had a return on equity of 12.27% and a net margin of 40.37%. The business's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 earnings per share. Analysts anticipate that NextEra Energy, Inc. will post 4.01 earnings per share for the current year.

NextEra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, November 27th will be given a $0.6232 dividend. This represents a $2.49 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, November 27th. NextEra Energy's dividend payout ratio (DPR) is currently 44.86%.

Wall Street Analysts Forecast Growth

NEE has been the subject of a number of analyst reports. Weiss Ratings upgraded NextEra Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 22nd. Morgan Stanley set a $110.00 price objective on NextEra Energy and gave the stock an "overweight" rating in a research note on Wednesday, October 14th. Scotiabank dropped their target price on NextEra Energy from $110.00 to $99.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 30th. Bank of America cut their target price on NextEra Energy from $95.00 to $93.00 and set a "neutral" rating on the stock in a research note on Monday, July 13th. Finally, Wells Fargo & Company raised shares of NextEra Energy to a "strong-buy" rating in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, NextEra Energy has a consensus rating of "Moderate Buy" and an average price target of $97.80.

About NextEra Energy

NextEra Energy, Inc is an energy infrastructure company headquartered in Juno Beach, Florida. Through its businesses, the company generates, transmits, distributes and sells electricity, with a focus on regulated utility operations and clean energy development.

Florida Power & Light Company, NextEra Energy's principal regulated utility, serves customers across much of Florida. FPL operates electric generation, transmission and distribution infrastructure and provides retail electricity service to residential, commercial and industrial customers.

NextEra Energy Resources develops, owns and operates renewable energy and energy storage projects, including wind and solar facilities.

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