State of Alaska Department of Revenue Sells 13,915 Shares of NextEra Energy, Inc. $NEE

Key Points

• State of Alaska Department of Revenue sold 13,915 shares of NextEra, cutting its stake by 6.3% to 206,899 shares valued at about $16.61 million at quarter-end.
• Company insiders have been net sellers — CEO John W. Ketchum sold 99,603 shares and EVP Charles Sieving sold 30,000, with total insider sales of 190,816 shares (≈$17.08M) over the last quarter, leaving insiders with 0.20% ownership.
• NextEra raised its quarterly dividend to $0.6232 (annualized $2.49, yield ~2.6%), and reported a slight EPS beat ($0.54 vs. $0.53) but missed revenue; analysts’ consensus rating is a Moderate Buy with a $94.94 price target.

State of Alaska Department of Revenue lessened its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 206,899 shares of the utilities provider's stock after selling 13,915 shares during the quarter. State of Alaska Department of Revenue's holdings in NextEra Energy were worth $16,609,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its stake in NextEra Energy by 1,765.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,968,305 shares of the utilities provider's stock valued at $299,567,000 after buying an additional 3,755,563 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab purchased a new position in NextEra Energy in the 3rd quarter valued at approximately $177,198,000. Amundi grew its stake in NextEra Energy by 16.7% in the 3rd quarter. Amundi now owns 12,461,783 shares of the utilities provider's stock valued at $1,012,129,000 after buying an additional 1,780,881 shares in the last quarter. Danske Bank A S purchased a new position in NextEra Energy in the 3rd quarter valued at approximately $88,262,000. Finally, Railway Pension Investments Ltd grew its stake in NextEra Energy by 90.3% in the 3rd quarter. Railway Pension Investments Ltd now owns 2,356,632 shares of the utilities provider's stock valued at $177,902,000 after buying an additional 1,118,000 shares in the last quarter. Institutional investors own 78.72% of the company's stock.

NextEra Energy Stock Up 0.1%

NEE opened at $94.22 on Monday. The company has a fifty day moving average price of $92.01 and a 200-day moving average price of $85.90. The firm has a market capitalization of $196.47 billion, a P/E ratio of 28.64 and a beta of 0.74. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.60 and a quick ratio of 0.49. NextEra Energy, Inc. has a one year low of $63.64 and a one year high of $96.21.

NextEra Energy (NYSE:NEE - Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The utilities provider reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. The firm had revenue of $6.50 billion during the quarter, compared to analyst estimates of $7.07 billion. NextEra Energy had a net margin of 24.93% and a return on equity of 12.18%. The business's revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. Equities research analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were paid a $0.6232 dividend. This is a boost from NextEra Energy's previous quarterly dividend of $0.57. This represents a $2.49 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, February 27th. NextEra Energy's payout ratio is currently 75.68%.

Insiders Place Their Bets

In other NextEra Energy news, CEO John W. Ketchum sold 99,603 shares of the company's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $89.34, for a total transaction of $8,898,532.02. Following the completion of the sale, the chief executive officer directly owned 305,933 shares in the company, valued at $27,332,054.22. This represents a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Charles E. Sieving sold 30,000 shares of the company's stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $90.00, for a total transaction of $2,700,000.00. Following the sale, the executive vice president owned 167,481 shares of the company's stock, valued at approximately $15,073,290. The trade was a 15.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 190,816 shares of company stock valued at $17,075,619 over the last quarter. Insiders own 0.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on NEE shares. Wall Street Zen lowered shares of NextEra Energy from a "hold" rating to a "sell" rating in a research note on Saturday, March 28th. HSBC lifted their price objective on shares of NextEra Energy from $96.00 to $103.00 and gave the company a "buy" rating in a research note on Monday, February 23rd. UBS Group lifted their price objective on shares of NextEra Energy from $91.00 to $104.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. BTIG Research restated a "buy" rating and set a $103.00 price target on shares of NextEra Energy in a research report on Wednesday, January 28th. Finally, BMO Capital Markets set a $95.00 price target on shares of NextEra Energy in a research report on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, NextEra Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.94.

NextEra Energy Profile

NextEra Energy, Inc NYSE: NEE, headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company's principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra's activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.

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