S Bank Fund Management Ltd Has $6.25 Million Holdings in NextEra Energy, Inc. $NEE

Key Points

• S Bank Fund Management Ltd has reduced its holdings in NextEra Energy, Inc. by 13.7%, now owning 90,000 shares valued at approximately $6.25 million.
• Insider transactions include EVP Charles E. Sieving selling 11,336 shares for about $906,880 and EVP Mark Lemasney selling 846 shares valued at $63,365.
• NextEra Energy recently reported earnings of $1.05 per share, exceeding analyst expectations, and announced a quarterly dividend with an annual yield of 2.6%.

S Bank Fund Management Ltd cut its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 13.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,000 shares of the utilities provider's stock after selling 14,282 shares during the quarter. NextEra Energy makes up about 0.9% of S Bank Fund Management Ltd's holdings, making the stock its 28th biggest position. S Bank Fund Management Ltd's holdings in NextEra Energy were worth $6,248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of NEE. Activest Wealth Management grew its position in NextEra Energy by 79.7% in the 2nd quarter. Activest Wealth Management now owns 354 shares of the utilities provider's stock worth $25,000 after purchasing an additional 157 shares during the last quarter. Harbor Asset Planning Inc. acquired a new stake in NextEra Energy in the 2nd quarter worth $25,000. 1 North Wealth Services LLC acquired a new stake in NextEra Energy in the 1st quarter worth $26,000. Nova Wealth Management Inc. acquired a new stake in NextEra Energy in the 1st quarter worth $32,000. Finally, IMA Advisory Services Inc. acquired a new stake in NextEra Energy in the 1st quarter worth $35,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Charles E. Sieving sold 11,336 shares of NextEra Energy stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total transaction of $906,880.00. Following the completion of the sale, the executive vice president owned 167,481 shares in the company, valued at $13,398,480. The trade was a 6.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Lemasney sold 846 shares of NextEra Energy stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total transaction of $63,365.40. Following the sale, the executive vice president owned 9,267 shares of the company's stock, valued at approximately $694,098.30. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,705 shares of company stock valued at $2,446,490. Insiders own 0.20% of the company's stock.

NextEra Energy Trading Up 1.3%

Shares of NEE stock opened at $85.73 on Thursday. NextEra Energy, Inc. has a 12-month low of $61.72 and a 12-month high of $86.49. The company has a market capitalization of $176.53 billion, a P/E ratio of 29.97, a P/E/G ratio of 2.86 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. The firm has a 50-day moving average price of $75.05 and a 200 day moving average price of $72.03.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $7.52 billion. During the same period in the previous year, the firm posted $0.96 earnings per share. The company's revenue was up 10.4% on a year-over-year basis. Research analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.6%. NextEra Energy's payout ratio is currently 79.37%.

Analyst Ratings Changes

Several research firms have issued reports on NEE. Morgan Stanley restated an "overweight" rating and issued a $95.00 price target (down from $96.00) on shares of NextEra Energy in a research report on Thursday, September 25th. Weiss Ratings restated a "hold (c+)" rating on shares of NextEra Energy in a research report on Tuesday. Barclays raised their price objective 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. Evercore ISI set a $92.00 price objective on shares of NextEra Energy and gave the stock an "outperform" rating in a report on Monday, October 6th. 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, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $85.57.

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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