State of New Jersey Common Pension Fund D Reduces Stock Holdings in NextEra Energy, Inc. $NEE

Key Points

• The State of New Jersey Common Pension Fund D has reduced its holdings in NextEra Energy, Inc. by 8.1%, now owning 699,255 shares valued at $49.57 million.
• Institutional investors own approximately 78.72% of NextEra Energy's stock, with notable increases in holdings by GQG Partners LLC and Charles Schwab Investment Management Inc.
• NextEra Energy announced a quarterly dividend of $0.5665 per share with an annualized yield of 3.1%, payable on September 15th.

State of New Jersey Common Pension Fund D decreased its holdings in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 8.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 699,255 shares of the utilities provider's stock after selling 61,573 shares during the period. State of New Jersey Common Pension Fund D's holdings in NextEra Energy were worth $49,570,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of NextEra Energy by 1.0% during the first quarter. Vanguard Group Inc. now owns 207,322,418 shares of the utilities provider's stock valued at $14,697,086,000 after buying an additional 2,025,193 shares during the last quarter. Northern Trust Corp grew its holdings in shares of NextEra Energy by 9.6% during the fourth quarter. Northern Trust Corp now owns 23,090,426 shares of the utilities provider's stock valued at $1,655,353,000 after buying an additional 2,030,331 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of NextEra Energy by 6.7% during the first quarter. Goldman Sachs Group Inc. now owns 21,269,146 shares of the utilities provider's stock valued at $1,507,770,000 after buying an additional 1,336,259 shares during the last quarter. GQG Partners LLC grew its holdings in shares of NextEra Energy by 58.4% during the first quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider's stock valued at $1,221,896,000 after buying an additional 6,352,798 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of NextEra Energy by 20.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider's stock valued at $1,165,748,000 after buying an additional 2,815,629 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company's stock.

NextEra Energy Price Performance

NYSE NEE traded up $0.8220 on Tuesday, reaching $76.5420. The company had a trading volume of 7,714,969 shares, compared to its average volume of 11,912,004. 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 stock has a market capitalization of $157.62 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 2.60 and a beta of 0.63. The firm's 50 day moving average price is $72.83 and its 200 day moving average price is $70.63. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.10.

NextEra Energy (NYSE:NEE - Get Free Report) last posted 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 previous year, the firm posted $0.96 EPS. The business's quarterly revenue was up 10.4% on a year-over-year basis. As a group, equities analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 28th will be paid a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Thursday, August 28th. NextEra Energy's payout ratio is 79.37%.

Insider Activity at NextEra Energy

In related news, Treasurer James Michael May sold 2,177 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total transaction of $168,717.50. Following the completion of the transaction, the treasurer owned 27,662 shares in the company, valued at $2,143,805. The trade was a 7.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert Coffey sold 7,500 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $71.84, for a total transaction of $538,800.00. Following the transaction, the executive vice president owned 26,539 shares of the company's stock, valued at approximately $1,906,561.76. This trade represents a 22.03% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. HSBC dropped their target price on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Friday, July 11th. BMO Capital Markets lifted their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Barclays lifted their price target on shares of NextEra Energy from $65.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Morgan Stanley dropped their price target on shares of NextEra Energy from $95.00 to $94.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. dropped their price target on shares of NextEra Energy from $86.00 to $82.00 in a research note on Thursday, July 3rd. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, NextEra Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.42.

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.