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

Key Points

• Pictet Asset Management cut its NextEra Energy stake by 6.8% in the third quarter, selling 484,726 shares; it still held 6.64 million shares valued at about $503 million.
• NextEra reported quarterly EPS of $1.24, topping the $1.20 consensus estimate, while revenue of $8.09 billion fell short of forecasts. Revenue increased 1.6% year over year.
• The company declared a quarterly dividend of $0.6232 per share, equivalent to an annualized yield of 2.9%; analysts’ consensus rating was “Moderate Buy,” with a $97.80 target price.

Pictet Asset Management Holding SA lowered its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 6.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,640,915 shares of the utilities provider's stock after selling 484,726 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.32% of NextEra Energy worth $502,983,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Kilter Group LLC bought a new stake in NextEra Energy in the second quarter worth $25,000. Manning & Napier Advisors LLC acquired a new stake in NextEra Energy in the 2nd quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of NextEra Energy in the second quarter worth $26,000. Financial Network Wealth Advisors LLC increased its holdings 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. Finally, Axiom Investment Management LLC acquired a new position in shares of NextEra Energy during the first quarter valued at about $32,000. 78.72% of the stock is owned by institutional investors.

NextEra Energy Trading Down 1.5%

NEE opened at $86.92 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.53 and a quick ratio of 0.45. The company has a market cap of $182.30 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60. The firm has a 50 day simple moving average of $80.50 and a 200 day simple moving average of $87.27. NextEra Energy, Inc. has a fifty-two week low of $74.41 and a fifty-two week high of $98.75.

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

NextEra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, November 27th will be paid a dividend of $0.6232 per share. The ex-dividend date of this dividend is Friday, November 27th. This represents a $2.49 annualized dividend and a yield of 2.9%. NextEra Energy's dividend payout ratio (DPR) is presently 44.86%.

NextEra Energy News Summary

Here are the key news stories impacting NextEra Energy this week:

• Positive Sentiment: Clean-energy stocks rallied after Democrats won control of Congress, and the article says NextEra captured the rally. Its battery development and ability to supply power to data centers may help it benefit from rising electricity demand. NextEra Energy Vs. AES Corporation: Utility Scale Energy Production Just Got a Major Blue Boost
• Positive Sentiment: A Virginia Chamber of Commerce-commissioned study says the proposed Dominion merger could bring thousands of jobs to Virginia, adding an economic-benefit argument in support of the deal. Virginia Chamber of Commerce promotes study touting Dominion merger benefits
• Neutral Sentiment: NextEra said senior management will participate in the EEI Financial Conference Nov. 8–10. The announcement does not identify new financial guidance or a specific business update. NextEra Energy to participate in EEI Financial Conference
• Neutral Sentiment: Another report describes the Virginia merger review as advancing with safeguards, but the available headline does not detail the terms or indicate whether approval is assured. NextEra Energy stock gains safeguards as Virginia merger review advances
• Negative Sentiment: Faith leaders and community advocates urged Virginia regulators to reject NextEra’s proposed $67 billion acquisition of Dominion, highlighting opposition and continued regulatory risk around the transaction. Faith Leaders Urge SCC to Reject Dominion-NextEra Merger

Analyst Upgrades and Downgrades

NEE has been the subject of several research reports. Wall Street Zen upgraded shares of NextEra Energy from a "strong sell" rating to a "sell" rating in a research note on Saturday, October 17th. Scotiabank lowered their price objective on NextEra Energy from $110.00 to $99.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 30th. Sanford C. Bernstein reiterated an "outperform" rating and set a $108.00 target price on shares of NextEra Energy in a research report on Wednesday, October 21st. Morgan Stanley set a $110.00 price objective on NextEra Energy and gave the company an "overweight" rating in a research report on Wednesday, October 14th. Finally, Wells Fargo & Company upgraded shares of NextEra Energy to a "strong-buy" rating in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, NextEra Energy presently has an average rating of "Moderate Buy" and a consensus target price of $97.80.

NextEra Energy Profile

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.

The company traces its roots to 1925, when Florida Power & Light was established.

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