RWC Asset Management LLP Sells 296,309 Shares of NextEra Energy, Inc. (NYSE:NEE)

Key Points

• RWC Asset Management LLP has significantly reduced its stake in NextEra Energy, Inc. by 44%, owning approximately $26.73 million worth of shares after selling 296,309 shares during the first quarter.
• Several institutional investors, including Geode Capital Management LLC and Northern Trust Corp, have increased their positions in NextEra Energy, highlighting strong interest in the company among major investors.
• NextEra Energy announced a quarterly dividend of $0.5665 per share, representing an annual yield of 3.15%, reflecting the company's ongoing commitment to returning value to shareholders.

RWC Asset Management LLP trimmed its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 44.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 377,008 shares of the utilities provider's stock after selling 296,309 shares during the quarter. NextEra Energy accounts for 1.4% of RWC Asset Management LLP's portfolio, making the stock its 20th largest position. RWC Asset Management LLP's holdings in NextEra Energy were worth $26,726,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Two Sigma Advisers LP acquired a new position in shares of NextEra Energy during the 4th quarter worth about $240,269,000. California Public Employees Retirement System increased its holdings in NextEra Energy by 46.7% during the 4th quarter. California Public Employees Retirement System now owns 7,910,346 shares of the utilities provider's stock worth $567,093,000 after purchasing an additional 2,517,369 shares in the last quarter. Schroder Investment Management Group lifted its stake in NextEra Energy by 44.9% in the 4th quarter. Schroder Investment Management Group now owns 8,064,781 shares of the utilities provider's stock valued at $578,164,000 after acquiring an additional 2,499,011 shares in the last quarter. GAMMA Investing LLC boosted its holdings in NextEra Energy by 8,456.8% during the first quarter. GAMMA Investing LLC now owns 2,458,536 shares of the utilities provider's stock worth $174,286,000 after purchasing an additional 2,429,804 shares during the last quarter. Finally, Northern Trust Corp increased its stake in NextEra Energy by 9.6% in the 4th quarter. Northern Trust Corp now owns 23,090,426 shares of the utilities provider's stock valued at $1,655,353,000 after buying an additional 2,030,331 shares during the last quarter. Institutional investors and hedge funds own 78.72% of the company's stock.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, EVP Charles E. Sieving sold 23,684 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the completion of the transaction, the executive vice president owned 196,817 shares in the company, valued at approximately $13,777,190. This trade represents a 10.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Coffey sold 7,500 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $71.84, for a total value of $538,800.00. Following the sale, the executive vice president owned 26,539 shares in the company, valued at approximately $1,906,561.76. The trade was a 22.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,361 shares of company stock valued at $2,365,398. 0.18% of the stock is currently owned by corporate insiders.

NextEra Energy Price Performance

Shares of NEE stock traded up $0.62 during trading on Tuesday, hitting $71.96. The company had a trading volume of 7,585,984 shares, compared to its average volume of 10,389,966. The stock's 50-day moving average price is $72.19 and its 200 day moving average price is $70.46. NextEra Energy, Inc. has a one year low of $61.72 and a one 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. The firm has a market capitalization of $148.19 billion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 2.46 and a beta of 0.67.

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 company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period in the prior year, the firm posted $0.96 EPS. NextEra Energy's quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 28th will be paid a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Thursday, August 28th. NextEra Energy's payout ratio is presently 79.37%.

Wall Street Analysts Forecast Growth

NEE has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on NextEra Energy from $95.00 to $94.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Barclays upped their price objective on NextEra Energy from $65.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Erste Group Bank cut shares of NextEra Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. decreased their price objective on shares of NextEra Energy from $86.00 to $82.00 in a research report on Thursday, July 3rd. Finally, BMO Capital Markets upped their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $84.42.

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.