NextEra Energy, Inc. $NEE Stock Sold by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON Asset Management UK cut its NextEra Energy stake by 84.2% in the third quarter, selling 299,635 shares and retaining 56,306 shares valued at $4.265 million.
• Institutional investors showed mixed activity: several major funds increased or initiated positions, and institutions collectively owned 78.72% of the company’s shares.
• Analysts’ consensus rating was “Moderate Buy”, with a $97.80 average price target. NextEra beat quarterly EPS estimates ($1.24 versus $1.20) but reported revenue below forecasts.

AEGON ASSET MANAGEMENT UK Plc reduced its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 84.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,306 shares of the utilities provider's stock after selling 299,635 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc's holdings in NextEra Energy were worth $4,265,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Legal & General Group Plc acquired a new stake in shares of NextEra Energy in the 2nd quarter worth $1,465,987,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 acquiring an additional 895,824 shares during the period. Amundi increased its stake 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 acquiring an additional 4,231,814 shares during the period. Bessemer Group Inc. raised its holdings in NextEra Energy by 8.5% during the first quarter. Bessemer Group Inc. now owns 10,187,013 shares of the utilities provider's stock worth $946,169,000 after purchasing an additional 799,546 shares in the last quarter. Finally, GQG Partners LLC purchased a new position in NextEra Energy during the second quarter worth about $651,293,000. Institutional investors and hedge funds own 78.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently 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 NextEra Energy and gave the stock an "outperform" rating in a research report on Tuesday, October 20th. Jefferies Financial Group reissued a "hold" rating on shares of NextEra Energy in a research note on Thursday, October 8th. BTIG Research set a $106.00 price target on NextEra Energy in a report on Thursday, October 22nd. Finally, Wells Fargo & Company raised 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 issued a Hold rating to the company's stock. According to MarketBeat, NextEra Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.80.

NextEra Energy Trading Down 0.7%

Shares of NextEra Energy stock opened at $86.27 on Wednesday. The company has a 50-day moving average of $80.68 and a two-hundred day moving average of $87.29. NextEra Energy, Inc. has a 12-month low of $74.41 and a 12-month high of $98.75. The company has a current ratio of 0.53, a quick ratio of 0.45 and a debt-to-equity ratio of 1.33. The stock has a market cap of $180.93 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 2.68 and a beta of 0.60.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its quarterly 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. The business had revenue of $8.09 billion for the quarter, compared to analyst estimates of $8.47 billion. NextEra Energy had a return on equity of 12.27% and a net margin of 40.37%. The company's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.13 EPS. On average, research analysts anticipate that NextEra Energy, Inc. will post 4.01 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, November 27th. This represents a $2.49 annualized dividend and a dividend yield of 2.9%. NextEra Energy's payout ratio is currently 44.86%.

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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