Sequoia Financial Advisors LLC Acquires 3,296 Shares of NextEra Energy, Inc. $NEE

Key Points

• Sequoia Financial Advisors LLC increased its holdings in NextEra Energy by 3.5%, acquiring an additional 3,296 shares, bringing its total to 96,897 shares valued at $6.73 million.
• NextEra Energy reported a quarterly earnings per share (EPS) of $1.05, exceeding analysts' estimates, while revenue grew by 10.4% year-over-year.
• Several brokerages have recently set price targets for NextEra Energy stock, with an average target of $85.00 and ratings ranging from "Strong Buy" to "Hold".

Sequoia Financial Advisors LLC raised its holdings in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 96,897 shares of the utilities provider's stock after acquiring an additional 3,296 shares during the quarter. Sequoia Financial Advisors LLC's holdings in NextEra Energy were worth $6,727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. 1 North Wealth Services LLC bought a new position in shares of NextEra Energy during the first quarter worth $26,000. Nova Wealth Management Inc. bought a new position in shares of NextEra Energy during the first quarter worth $32,000. IMA Advisory Services Inc. bought a new position in shares of NextEra Energy during the first quarter worth $35,000. Semmax Financial Advisors Inc. boosted its position in shares of NextEra Energy by 335.0% during the first quarter. Semmax Financial Advisors Inc. now owns 509 shares of the utilities provider's stock worth $36,000 after purchasing an additional 392 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC boosted its position in shares of NextEra Energy by 237.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider's stock worth $37,000 after purchasing an additional 366 shares in the last quarter. 78.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NEE. Melius began coverage on shares of NextEra Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $77.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of NextEra Energy from $86.00 to $87.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. New Street Research set a $84.00 price objective on shares of NextEra Energy in a research report on Monday. Mizuho set a $78.00 price objective on shares of NextEra Energy in a research report on Thursday, August 21st. Finally, HSBC cut their price objective 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. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $85.00.

Insider Transactions at NextEra Energy

In other news, EVP Robert Coffey sold 7,500 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $71.84, for a total transaction of $538,800.00. Following the transaction, the executive vice president directly owned 26,539 shares in the company, valued at $1,906,561.76. The trade was a 22.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Treasurer James Michael May sold 2,177 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total transaction of $168,717.50. Following the transaction, the treasurer owned 27,662 shares in the company, valued at $2,143,805. This represents a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,705 shares of company stock worth $2,446,490. 0.18% of the stock is owned by insiders.

NextEra Energy Stock Up 1.1%

Shares of NEE stock opened at $84.25 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $86.00. The firm's fifty day moving average price is $74.47 and its two-hundred day moving average price is $71.85. The firm has a market capitalization of $173.49 billion, a P/E ratio of 29.46, a PEG ratio of 2.82 and a beta of 0.66.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its quarterly 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. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period in the previous year, the business earned $0.96 EPS. The company's revenue was up 10.4% compared to the same quarter last year. On average, equities analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 28th were paid a $0.5665 dividend. This represents a $2.27 annualized dividend and a yield of 2.7%. The ex-dividend date was Thursday, August 28th. NextEra Energy's payout ratio is presently 79.37%.

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.

Want to see what other hedge funds are holding NEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NextEra Energy, Inc. (NYSE:NEE - Free Report).

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.