Public Sector Pension Investment Board Has $38.98 Million Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Key Points

• The Public Sector Pension Investment Board reduced its stake in NextEra Energy by 41.7%, selling 393,920 shares and leaving them with 549,824 shares valued at approximately $38.98 million.
• NextEra Energy reported $1.05 EPS, surpassing analyst expectations, but its quarterly revenue was $6.70 billion, lower than the anticipated $7.52 billion.
• The company will pay a quarterly dividend of $0.5665 per share on September 15th, reflecting a 3.1% dividend yield and a payout ratio of 79.37%.

Public Sector Pension Investment Board lessened its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 41.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 549,824 shares of the utilities provider's stock after selling 393,920 shares during the quarter. Public Sector Pension Investment Board's holdings in NextEra Energy were worth $38,977,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in NextEra Energy by 7.0% in the 4th quarter. Brighton Jones LLC now owns 28,282 shares of the utilities provider's stock valued at $2,028,000 after purchasing an additional 1,840 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in NextEra Energy by 6.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,854 shares of the utilities provider's stock worth $348,000 after buying an additional 298 shares during the period. Townsquare Capital LLC grew its stake in shares of NextEra Energy by 5.4% in the fourth quarter. Townsquare Capital LLC now owns 49,185 shares of the utilities provider's stock valued at $3,526,000 after buying an additional 2,539 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new stake in NextEra Energy during the 4th quarter worth $2,172,000. Finally, Advisors Capital Management LLC boosted its stake in shares of NextEra Energy by 7.7% during the 4th quarter. Advisors Capital Management LLC now owns 342,294 shares of the utilities provider's stock valued at $24,539,000 after buying an additional 24,527 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NEE has been the topic of a number of recent research reports. HSBC reduced their price target on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. UBS Group cut their target price on NextEra Energy from $94.00 to $84.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Morgan Stanley reduced their price target on shares of NextEra Energy from $95.00 to $94.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. JPMorgan Chase & Co. dropped their price target on shares of NextEra Energy from $86.00 to $82.00 in a research note on Thursday, July 3rd. Finally, Erste Group Bank cut NextEra Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, NextEra Energy has a consensus rating of "Moderate Buy" and a consensus target price of $84.42.

NextEra Energy Price Performance

Shares of NEE stock traded down $0.00 during mid-day trading on Thursday, reaching $72.30. The company's stock had a trading volume of 6,779,288 shares, compared to its average volume of 11,860,774. The firm's 50-day moving average is $72.67 and its two-hundred day moving average is $70.59. The company has a market cap of $148.88 billion, a P/E ratio of 25.28, a PEG ratio of 2.47 and a beta of 0.63. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.10. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54.

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

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 28th will be given a $0.5665 dividend. The ex-dividend date is Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a yield of 3.1%. NextEra Energy's payout ratio is 79.37%.

Insider Transactions at NextEra Energy

In related news, Treasurer James Michael May sold 2,177 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total value of $168,717.50. Following the completion of the sale, the treasurer owned 27,662 shares of the company's stock, valued at $2,143,805. This trade represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Robert Coffey sold 7,500 shares of NextEra Energy 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 completion of the sale, the executive vice president 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 disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

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.