Polaris Capital Management LLC Has $26.90 Million Stock Position in NextEra Energy, Inc. $NEE

Key Points

• Polaris Capital Management LLC reduced its stake in NextEra Energy by 6.6%, now holding 387,487 shares worth approximately $26.90 million, making it the firm's 29th largest holding.
• The utility reported $1.05 earnings per share (EPS), surpassing estimates, with revenue of $6.70 billion, although below analyst projections of $7.52 billion.
• NextEra Energy recently declared a quarterly dividend of $0.5665 per share, representing an annualized yield of 2.8% and a payout ratio of 79.37%.

Polaris Capital Management LLC lowered its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 6.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,487 shares of the utilities provider's stock after selling 27,425 shares during the period. NextEra Energy accounts for 1.8% of Polaris Capital Management LLC's holdings, making the stock its 29th largest holding. Polaris Capital Management LLC's holdings in NextEra Energy were worth $26,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. 1 North Wealth Services LLC acquired a new stake in NextEra Energy in the first quarter valued at approximately $26,000. Nova Wealth Management Inc. acquired a new stake in NextEra Energy in the first quarter valued at approximately $32,000. IMA Advisory Services Inc. acquired a new stake in NextEra Energy in the first quarter valued at approximately $35,000. Semmax Financial Advisors Inc. boosted its position in NextEra Energy by 335.0% in the first quarter. Semmax Financial Advisors Inc. now owns 509 shares of the utilities provider's stock valued at $36,000 after buying an additional 392 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC boosted its position in NextEra Energy by 237.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider's stock valued at $37,000 after buying an additional 366 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company's stock.

Insider Activity

In other NextEra Energy news, EVP Robert Coffey sold 7,500 shares of NextEra Energy stock in a transaction on Monday, July 28th. The shares were sold at an average price of $71.84, for a total value of $538,800.00. Following the completion of the sale, the executive vice president directly owned 26,539 shares of the company's stock, valued at approximately $1,906,561.76. The trade was a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Dunne sold 10,000 shares of NextEra Energy 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 completion of the sale, the executive vice president directly owned 62,064 shares of the company's stock, valued at approximately $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 have sold 21,369 shares of company stock worth $1,539,610 in the last three months. Corporate insiders own 0.20% of the company's stock.

NextEra Energy Price Performance

NEE stock opened at $80.12 on Friday. The firm has a market cap of $164.98 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 2.69 and a beta of 0.66. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.36. NextEra Energy, Inc. has a 12-month low of $61.72 and a 12-month high of $86.00. The company's fifty day simple moving average is $72.99 and its 200 day simple moving average is $71.28.

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, beating the consensus estimate of $1.01 by $0.04. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 earnings per share. On average, analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current 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 issued a $0.5665 dividend. The ex-dividend date was Thursday, August 28th. This represents a $2.27 annualized dividend and a yield of 2.8%. NextEra Energy's payout ratio is presently 79.37%.

Analyst Upgrades and Downgrades

NEE has been the topic of a number of recent research reports. Melius Research upgraded shares of NextEra Energy to a "strong-buy" rating in a report on Wednesday, August 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of NextEra Energy in a report on Saturday, September 27th. Barclays lifted their price target on shares of NextEra Energy from $65.00 to $67.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Melius initiated coverage on shares of NextEra Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $77.00 price target on the stock. Finally, Mizuho set a $78.00 price target on shares of NextEra Energy in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $84.08.

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.

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.