Stack Financial Management Inc Takes Position in NextEra Energy, Inc. $NEE

Key Points

• Stack Financial Management Inc acquired 315,237 shares of NextEra Energy, Inc. worth approximately $21.88 million, making it the firm's 21st largest position.
• Insiders, including EVP Robert Coffey, sold significant shares recently, with Coffey reducing his ownership by 22.03% through the sale of 7,500 shares.
• NextEra Energy announced a quarterly dividend of $0.5665 per share, reflecting an annualized yield of 2.7% and a payout ratio of 79.37%.

Stack Financial Management Inc acquired a new stake in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 315,237 shares of the utilities provider's stock, valued at approximately $21,884,000. NextEra Energy comprises approximately 1.9% of Stack Financial Management Inc's holdings, making the stock its 21st biggest position.

Other hedge funds have also recently made changes to their positions in the company. Avity Investment Management Inc. grew its holdings in shares of NextEra Energy by 1.7% during the second quarter. Avity Investment Management Inc. now owns 506,515 shares of the utilities provider's stock valued at $35,162,000 after buying an additional 8,565 shares during the last quarter. Integrity Alliance LLC. grew its holdings in shares of NextEra Energy by 41.8% during the first quarter. Integrity Alliance LLC. now owns 25,092 shares of the utilities provider's stock valued at $1,779,000 after buying an additional 7,401 shares during the last quarter. Elyxium Wealth LLC acquired a new position in shares of NextEra Energy during the first quarter valued at about $783,000. Czech National Bank lifted its position in shares of NextEra Energy by 6.5% during the second quarter. Czech National Bank now owns 503,202 shares of the utilities provider's stock valued at $34,932,000 after purchasing an additional 30,878 shares in the last quarter. Finally, Bowman & Co S.C. lifted its position in shares of NextEra Energy by 2.0% during the second quarter. Bowman & Co S.C. now owns 13,452 shares of the utilities provider's stock valued at $933,000 after purchasing an additional 263 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Robert Coffey sold 7,500 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $1,906,561.76. The trade was a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Lemasney sold 846 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the sale, the executive vice president directly owned 9,267 shares in the company, valued at approximately $694,098.30. This trade represents a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,705 shares of company stock valued at $2,446,490. Company insiders own 0.18% of the company's stock.

NextEra Energy Stock Performance

Shares of NEE stock opened at $83.30 on Monday. The firm has a market cap of $171.54 billion, a price-to-earnings ratio of 29.13, a P/E/G ratio of 2.82 and a beta of 0.66. 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, Inc. has a 52 week low of $61.72 and a 52 week high of $86.00. The firm's 50-day simple moving average is $74.20 and its two-hundred day simple moving average is $71.75.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, topping the consensus estimate of $1.01 by $0.04. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The company's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 earnings per share. As a group, equities analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Weiss Ratings reissued a "hold (c)" rating on shares of NextEra Energy in a research report on Saturday, September 27th. Evercore ISI set a $92.00 price target on shares of NextEra Energy and gave the company an "outperform" rating in a research report on Monday, October 6th. Mizuho set a $78.00 price target on shares of NextEra Energy in a research report on Thursday, August 21st. Finally, Morgan Stanley reissued an "overweight" rating and set a $95.00 price target (down from $96.00) on shares of NextEra Energy in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, NextEra Energy currently has a consensus rating of "Moderate Buy" and an average target price of $85.08.

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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