Sumitomo Mitsui Trust Group Inc. Buys 80,117 Shares of NextEra Energy, Inc. $NEE

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its stake in NextEra Energy by 1.7%, acquiring an additional 80,117 shares during the second quarter, bringing its total ownership to nearly 4.86 million shares valued at approximately $337.6 million.
• NextEra Energy reported a quarterly EPS of $1.05, which exceeded the analyst consensus estimate of $1.01, despite revenues of $6.70 billion falling short of the predicted $7.52 billion.
• The firm announced a quarterly dividend of $0.5665 per share to be paid on December 15, 2023, translating to an annualized dividend yield of 2.7%.

Sumitomo Mitsui Trust Group Inc. increased its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,863,423 shares of the utilities provider's stock after acquiring an additional 80,117 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of NextEra Energy worth $337,619,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Avity Investment Management Inc. increased its stake in NextEra Energy by 1.7% during the 2nd quarter. Avity Investment Management Inc. now owns 506,515 shares of the utilities provider's stock valued at $35,162,000 after purchasing an additional 8,565 shares in the last quarter. Integrity Alliance LLC. grew its stake in shares of NextEra Energy by 41.8% in the 1st quarter. Integrity Alliance LLC. now owns 25,092 shares of the utilities provider's stock worth $1,779,000 after acquiring an additional 7,401 shares in the last quarter. Elyxium Wealth LLC bought a new stake in shares of NextEra Energy in the 1st quarter worth $783,000. Czech National Bank grew its stake in shares of NextEra Energy by 6.5% in the 2nd quarter. Czech National Bank now owns 503,202 shares of the utilities provider's stock worth $34,932,000 after acquiring an additional 30,878 shares in the last quarter. Finally, Bowman & Co S.C. grew its stake in shares of NextEra Energy by 2.0% in the 2nd quarter. Bowman & Co S.C. now owns 13,452 shares of the utilities provider's stock worth $933,000 after acquiring an additional 263 shares in the last quarter. Institutional investors own 78.72% of the company's stock.

NextEra Energy Price Performance

NYSE NEE opened at $83.77 on Friday. The company has a market cap of $172.51 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 2.80 and a beta of 0.66. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $86.74. 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 firm's 50-day simple moving average is $76.46 and its two-hundred day simple moving average is $72.64.

NextEra Energy (NYSE:NEE - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. The business had revenue of $6.70 billion for the quarter, compared to the consensus estimate 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 was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. Research analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 21st will be issued a dividend of $0.5665 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.27 annualized dividend and a yield of 2.7%. NextEra Energy's dividend payout ratio is 79.02%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NEE. Morgan Stanley reiterated an "overweight" rating and issued a $95.00 target price (down previously from $96.00) on shares of NextEra Energy in a research note on Thursday, September 25th. Melius began coverage on shares of NextEra Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $77.00 price target on the stock. Evercore ISI set a $92.00 price target on shares of NextEra Energy and gave the stock an "outperform" rating in a report on Monday, October 6th. TD Cowen began coverage on shares of NextEra Energy in a report on Thursday, October 16th. They issued a "buy" rating and a $98.00 price target on the stock. Finally, Cowen began coverage on shares of NextEra Energy in a report on Wednesday, October 15th. They issued a "buy" rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, NextEra Energy has an average rating of "Moderate Buy" and a consensus price target of $88.38.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, EVP Robert Coffey sold 7,500 shares of the company'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 sale, the executive vice president directly owned 26,539 shares of the company's stock, valued at $1,906,561.76. This represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles E. Sieving sold 11,336 shares of the company's 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 in the company, valued at approximately $13,398,480. This trade represents a 6.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,528 shares of company stock valued at $2,277,773 in the last three months. 0.20% of the stock is owned by company insiders.

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.

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