Northeast Investment Management Sells 6,214 Shares of NextEra Energy, Inc. $NEE

Key Points

• Northeast Investment Management reduced its position in NextEra Energy, selling 6,214 shares and now holds 402,344 shares, representing 1.2% of its portfolio.
• NextEra Energy reported earnings of $1.05 per share, exceeding estimates, and had a revenue of $6.70 billion, which was below analyst expectations.
• The company declared a quarterly dividend of $0.5665, translating to an annualized yield of 2.7% and a payout ratio of 79.37%.

Northeast Investment Management decreased its position in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 402,344 shares of the utilities provider's stock after selling 6,214 shares during the quarter. NextEra Energy makes up 1.2% of Northeast Investment Management's investment portfolio, making the stock its 26th largest position. Northeast Investment Management's holdings in NextEra Energy were worth $27,931,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NEE. GQG Partners LLC grew its stake in shares of NextEra Energy by 58.4% during the 1st quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider's stock worth $1,221,896,000 after acquiring an additional 6,352,798 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in NextEra Energy by 20.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider's stock worth $1,165,748,000 after purchasing an additional 2,815,629 shares in the last quarter. Amundi lifted its holdings in NextEra Energy by 27.8% during the 1st quarter. Amundi now owns 12,200,990 shares of the utilities provider's stock worth $878,447,000 after purchasing an additional 2,657,438 shares in the last quarter. Vanguard Group Inc. lifted its holdings in NextEra Energy by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 207,322,418 shares of the utilities provider's stock worth $14,697,086,000 after purchasing an additional 2,025,193 shares in the last quarter. Finally, Boston Partners lifted its holdings in NextEra Energy by 55.3% during the 1st quarter. Boston Partners now owns 5,300,839 shares of the utilities provider's stock worth $374,639,000 after purchasing an additional 1,886,999 shares in the last quarter. Institutional investors own 78.72% of the company's stock.

NextEra Energy Stock Down 0.7%

NEE stock opened at $84.48 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. The company's 50 day moving average is $75.54 and its 200 day moving average is $72.24. The stock has a market cap of $173.97 billion, a price-to-earnings ratio of 29.54, a price-to-earnings-growth ratio of 2.85 and a beta of 0.66. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.74.

NextEra Energy (NYSE:NEE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.04. The company had revenue of $6.70 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share. Sell-side analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 28th were given a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Thursday, August 28th. NextEra Energy's dividend payout ratio is 79.37%.

Analyst Ratings Changes

A number of analysts recently issued reports on NEE shares. New Street Research set a $84.00 price objective on NextEra Energy in a report on Monday, October 13th. Melius started coverage on NextEra Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $77.00 price objective on the stock. BMO Capital Markets increased their price objective on NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. TD Cowen started coverage on NextEra Energy in a report on Thursday. They set a "buy" rating and a $98.00 price objective on the stock. Finally, Morgan Stanley reissued an "overweight" rating and set a $95.00 price objective (down previously from $96.00) on shares of NextEra Energy in a report on Thursday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $86.40.

Insider Buying and Selling

In other news, EVP Robert Coffey sold 7,500 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $71.84, for a total transaction of $538,800.00. Following the transaction, the executive vice president directly owned 26,539 shares in the company, valued at approximately $1,906,561.76. This represents a 22.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Dunne sold 10,000 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $70.79, for a total value of $707,900.00. Following the transaction, the executive vice president owned 62,064 shares in the company, valued at $4,393,510.56. This trade represents a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,705 shares of company stock valued at $2,446,490 in the last 90 days. 0.20% of the stock is owned by company insiders.

About NextEra Energy

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.

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