Shikiar Asset Management Inc. Sells 11,060 Shares of NextEra Energy, Inc. $NEE

Key Points

• Shikiar Asset Management Inc. reduced its position in NextEra Energy, selling 11,060 shares and owning 107,058 shares post-sale, which accounts for about 2.1% of the fund's holdings.
• NextEra Energy's stock has a current market capitalization of $172.22 billion with a PE ratio of 29.24, and its shares opened at $83.63 on Friday.
• The company announced a quarterly dividend of $0.5665 per share, reflecting a 2.7% yield with a payout ratio of 79.37%.

Shikiar Asset Management Inc. reduced its position in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 9.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 107,058 shares of the utilities provider's stock after selling 11,060 shares during the quarter. NextEra Energy makes up about 2.1% of Shikiar Asset Management Inc.'s holdings, making the stock its 17th biggest holding. Shikiar Asset Management Inc.'s holdings in NextEra Energy were worth $7,432,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. 1 North Wealth Services LLC bought a new position in NextEra Energy in the 1st quarter worth $26,000. Nova Wealth Management Inc. bought a new position in NextEra Energy in the 1st quarter worth $32,000. IMA Advisory Services Inc. bought a new position in NextEra Energy in the 1st quarter worth $35,000. Semmax Financial Advisors Inc. raised its holdings in NextEra Energy by 335.0% in the 1st 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 raised its holdings in NextEra Energy by 237.7% in the 1st 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 currently owned by institutional investors.

Insider Activity at NextEra Energy

In related news, EVP Charles E. Sieving sold 11,336 shares of the stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $80.00, for a total transaction of $906,880.00. Following the sale, the executive vice president directly owned 167,481 shares of the company's stock, valued at approximately $13,398,480. This represents a 6.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Dunne sold 10,000 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $70.79, for a total transaction of $707,900.00. Following the sale, the executive vice president directly owned 62,064 shares in the company, valued at approximately $4,393,510.56. The trade was a 13.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,705 shares of company stock worth $2,446,490 in the last ninety days. 0.20% of the stock is currently owned by company insiders.

NextEra Energy Stock Down 0.5%

NYSE:NEE opened at $83.63 on Friday. The firm's 50-day moving average price is $73.94 and its 200-day moving average price is $71.63. The company has a market capitalization of $172.22 billion, a PE ratio of 29.24, a P/E/G ratio of 2.89 and a beta of 0.66. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.54 and a quick ratio of 0.45. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.00.

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 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 firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same period in the prior year, the firm 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 28th were given a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 28th. NextEra Energy's dividend payout ratio is 79.37%.

Analyst Upgrades and Downgrades

Several research analysts have commented on NEE shares. JPMorgan Chase & Co. upped their price objective on shares of NextEra Energy from $86.00 to $87.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. 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. Morgan Stanley restated an "overweight" rating and issued a $95.00 price objective (down from $96.00) on shares of NextEra Energy in a report on Thursday, September 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of NextEra Energy in a research report on Saturday, September 27th. Finally, Melius began coverage on shares of NextEra Energy in a research report on Wednesday, August 20th. They issued a "buy" rating and a $77.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $85.08.

About NextEra Energy

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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