Phoenix Financial Ltd. Sells 16,145 Shares of NextEra Energy, Inc. $NEE

Key Points

• Phoenix Financial Ltd. decreased its stake in NextEra Energy, Inc. by 13.3% during Q2, selling 16,145 shares and now holds 105,184 shares valued at approximately $7.3 million.
• Insider selling activity includes EVP Charles E. Sieving selling 11,336 shares for about $906,880, and EVP Michael Dunne selling 10,000 shares valued at approximately $707,900.
• NextEra Energy's stock has a current price of $84.80, with an average price target estimated at $86.40 and a recent quarterly dividend yield of 2.7%.

Phoenix Financial Ltd. cut its holdings in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 13.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,184 shares of the utilities provider's stock after selling 16,145 shares during the period. Phoenix Financial Ltd.'s holdings in NextEra Energy were worth $7,307,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale grew its holdings in NextEra Energy by 2.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,158,008 shares of the utilities provider's stock valued at $144,904,000 after purchasing an additional 42,426 shares during the last quarter. Bogart Wealth LLC grew its holdings in NextEra Energy by 36.2% during the 2nd quarter. Bogart Wealth LLC now owns 2,142 shares of the utilities provider's stock valued at $149,000 after purchasing an additional 569 shares during the last quarter. Demars Financial Group LLC bought a new position in NextEra Energy during the 2nd quarter valued at about $512,000. Canvas Wealth Advisors LLC grew its holdings in NextEra Energy by 29.7% during the 2nd quarter. Canvas Wealth Advisors LLC now owns 4,133 shares of the utilities provider's stock valued at $295,000 after purchasing an additional 947 shares during the last quarter. Finally, Schnieders Capital Management LLC grew its holdings in NextEra Energy by 1.9% during the 2nd quarter. Schnieders Capital Management LLC now owns 49,906 shares of the utilities provider's stock valued at $3,464,000 after purchasing an additional 921 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NextEra Energy

In other news, EVP Charles E. Sieving sold 11,336 shares of the company's stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total value of $906,880.00. Following the completion of the sale, the executive vice president owned 167,481 shares of the company's stock, valued at approximately $13,398,480. This represents a 6.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Dunne sold 10,000 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $70.79, for a total transaction of $707,900.00. Following the completion of the sale, the executive vice president directly owned 62,064 shares of the company's stock, valued at $4,393,510.56. The trade was a 13.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,528 shares of company stock worth $2,277,773 over the last quarter. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NEE. JPMorgan Chase & Co. upped their price target on shares of NextEra Energy from $86.00 to $87.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Mizuho set a $78.00 price target on shares of NextEra Energy in a report on Thursday, August 21st. Melius Research upgraded shares of NextEra Energy to a "strong-buy" rating in a report on Wednesday, August 20th. TD Cowen initiated coverage on shares of NextEra Energy in a report on Thursday, October 16th. They set a "buy" rating and a $98.00 price target on the stock. Finally, Barclays boosted their price objective on shares of NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $86.40.

NextEra Energy Price Performance

NextEra Energy stock opened at $84.80 on Tuesday. The stock has a market cap of $174.63 billion, a price-to-earnings ratio of 29.65, a price-to-earnings-growth ratio of 2.85 and a beta of 0.66. 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 1 year low of $61.72 and a 1 year high of $86.74. The firm has a 50-day moving average of $75.78 and a two-hundred day moving average of $72.36.

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

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders 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 of this dividend was Thursday, August 28th. NextEra Energy's dividend payout ratio is presently 79.37%.

NextEra Energy 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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