Penobscot Investment Management Company Inc. Has $14.29 Million Stock Position in NextEra Energy, Inc. $NEE

Key Points

• Penobscot Investment Management Company Inc. reduced its stake in NextEra Energy, Inc. by 10.5%, owning 205,883 shares worth approximately $14.29 million at the end of the second quarter.
• Institutional investor ownership of NextEra Energy is significant, with 78.72% of the stock currently held by such investors, including Signature Wealth Management Partners, which increased its stake by 97.9%.
• NextEra Energy has reported a 10.4% year-over-year revenue growth, though its recent quarterly revenue fell short of analyst estimates, totaling $6.70 billion against an expected $7.52 billion.

Penobscot Investment Management Company Inc. lowered its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 10.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,883 shares of the utilities provider's stock after selling 24,089 shares during the period. NextEra Energy comprises 1.2% of Penobscot Investment Management Company Inc.'s holdings, making the stock its 19th largest position. Penobscot Investment Management Company Inc.'s holdings in NextEra Energy were worth $14,292,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signature Wealth Management Partners LLC grew its stake in NextEra Energy by 97.9% in the second quarter. Signature Wealth Management Partners LLC now owns 17,158 shares of the utilities provider's stock valued at $1,191,000 after acquiring an additional 8,488 shares during the period. AMF Tjanstepension AB lifted its holdings in shares of NextEra Energy by 4,976.3% during the 2nd quarter. AMF Tjanstepension AB now owns 1,128,870 shares of the utilities provider's stock valued at $78,422,000 after purchasing an additional 1,106,632 shares in the last quarter. LGT Fund Management Co Ltd. grew its position in shares of NextEra Energy by 23.1% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 41,445 shares of the utilities provider's stock valued at $2,877,000 after purchasing an additional 7,767 shares during the period. Hudson Valley Investment Advisors Inc. ADV grew its position in shares of NextEra Energy by 316.3% in the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 53,802 shares of the utilities provider's stock valued at $3,735,000 after purchasing an additional 40,878 shares during the period. Finally, Quent Capital LLC increased its stake in NextEra Energy by 6.5% during the 2nd quarter. Quent Capital LLC now owns 5,514 shares of the utilities provider's stock worth $383,000 after purchasing an additional 336 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Michael Dunne sold 10,000 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $70.79, for a total transaction of $707,900.00. Following the transaction, the executive vice president directly owned 62,064 shares in the company, valued at approximately $4,393,510.56. The trade was a 13.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Coffey sold 7,500 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $71.84, for a total transaction of $538,800.00. Following the completion of the sale, the executive vice president owned 26,539 shares of the company's stock, valued at approximately $1,906,561.76. This represents a 22.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,369 shares of company stock valued at $1,539,610 over the last three months. Corporate insiders own 0.20% of the company's stock.

NextEra Energy Price Performance

Shares of NYSE NEE opened at $80.12 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.54 and a quick ratio of 0.45. The business has a 50-day moving average of $72.99 and a 200-day moving average of $71.28. The stock has a market capitalization of $164.98 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 2.69 and a beta of 0.66. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.00.

NextEra Energy (NYSE:NEE - Get Free Report) last released its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. NextEra Energy's revenue was up 10.4% on a year-over-year basis. As a group, sell-side analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 28th were paid a $0.5665 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.27 annualized dividend and a dividend yield of 2.8%. NextEra Energy's dividend payout ratio (DPR) is currently 79.37%.

Analysts Set New Price Targets

A number of research analysts have weighed in on NEE shares. Mizuho set a $78.00 price target on shares of NextEra Energy in a research note on Thursday, August 21st. BMO Capital Markets boosted their price objective on shares of NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of NextEra Energy in a research note on Saturday, September 27th. Barclays increased their target price on NextEra Energy from $65.00 to $67.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Finally, Morgan Stanley restated an "overweight" rating and issued a $95.00 price target (down from $96.00) on shares of NextEra Energy in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $84.08.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.