Parsons Capital Management Inc. RI Sells 251,270 Shares of NextEra Energy, Inc. $NEE

Key Points

• Parsons Capital Management Inc. RI has significantly reduced its stake in NextEra Energy, Inc. by 74.6%, selling 251,270 shares, and now holds 85,776 shares valued at approximately $5.95 million.
• Analysts have mixed opinions on NextEra Energy, with one "Strong Buy," nine "Buy," and four "Hold" ratings, while price targets range from $77.00 to $95.00.
• The company recently announced a quarterly dividend of $0.5665 per share, equating to an annual yield of 2.9% and a payout ratio of 79.37%.

Parsons Capital Management Inc. RI decreased its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 74.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,776 shares of the utilities provider's stock after selling 251,270 shares during the quarter. Parsons Capital Management Inc. RI's holdings in NextEra Energy were worth $5,955,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 1 North Wealth Services LLC bought a new position in NextEra Energy in the first quarter worth $26,000. Nova Wealth Management Inc. bought a new position in NextEra Energy in the first quarter worth $32,000. IMA Advisory Services Inc. bought a new position in NextEra Energy in the first quarter worth $35,000. Semmax Financial Advisors Inc. raised its holdings in NextEra Energy by 335.0% in the first quarter. Semmax Financial Advisors Inc. now owns 509 shares of the utilities provider's stock worth $36,000 after purchasing an additional 392 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its stake in shares of NextEra Energy by 237.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider's stock worth $37,000 after acquiring an additional 366 shares during the last quarter. Institutional investors own 78.72% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NEE. Melius Research upgraded NextEra Energy to a "strong-buy" rating in a report on Wednesday, August 20th. HSBC reduced their price target on NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a report on Friday, July 11th. Melius began coverage on NextEra Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $77.00 price target for the company. BMO Capital Markets raised their price target on NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, Morgan Stanley restated an "overweight" rating and set a $95.00 price target (down from $96.00) on shares of NextEra Energy in a report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $84.08.

NextEra Energy Trading Up 4.2%

NextEra Energy stock opened at $78.63 on Thursday. 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 one year low of $61.72 and a one year high of $86.10. The stock has a market capitalization of $161.92 billion, a PE ratio of 27.49, a price-to-earnings-growth ratio of 2.60 and a beta of 0.66. The business's fifty day moving average is $72.70 and its 200 day moving average is $71.17.

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

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 28th were given a $0.5665 dividend. This represents a $2.27 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, August 28th. NextEra Energy's dividend payout ratio (DPR) is presently 79.37%.

Insider Transactions at NextEra Energy

In other NextEra Energy news, EVP Robert Coffey sold 7,500 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $71.84, for a total value of $538,800.00. Following the transaction, the executive vice president directly owned 26,539 shares of the company's stock, valued at approximately $1,906,561.76. This trade represents a 22.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Treasurer James Michael May sold 2,177 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total value of $168,717.50. Following the completion of the transaction, the treasurer directly owned 27,662 shares in the company, valued at $2,143,805. The trade was a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,369 shares of company stock valued at $1,539,610. Company insiders own 0.20% of the company's stock.

NextEra Energy Company 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.

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