Summit Financial LLC Acquires 8,358 Shares of NextEra Energy, Inc. $NEE

Key Points

• Summit Financial LLC increased its stake in NextEra Energy, Inc. by 10.0%, acquiring an additional 8,358 shares to bring its total holdings to 91,888 shares worth approximately $6.51 million.
• Several institutional investors adjusted their holdings in NextEra Energy, with Viking Fund Management LLC significantly increasing its stake by 67.8% during the same period.
• NextEra Energy recently announced a quarterly dividend of $0.5665, representing a 3.0% yield, as it continues to demonstrate strong financial performance with a net margin of 22.84%.

Summit Financial LLC grew its holdings in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 10.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 91,888 shares of the utilities provider's stock after acquiring an additional 8,358 shares during the period. Summit Financial LLC's holdings in NextEra Energy were worth $6,514,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Somerset Trust Co raised its stake in shares of NextEra Energy by 5.2% during the first quarter. Somerset Trust Co now owns 89,709 shares of the utilities provider's stock valued at $6,359,000 after acquiring an additional 4,445 shares during the last quarter. Elyxium Wealth LLC bought a new position in shares of NextEra Energy during the first quarter valued at $783,000. Viking Fund Management LLC raised its stake in shares of NextEra Energy by 67.8% during the first quarter. Viking Fund Management LLC now owns 495,000 shares of the utilities provider's stock valued at $35,091,000 after acquiring an additional 200,000 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of NextEra Energy by 2.2% during the first quarter. Trust Co. of Vermont now owns 385,592 shares of the utilities provider's stock valued at $27,335,000 after acquiring an additional 8,472 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of NextEra Energy by 20.7% during the first quarter. GAMMA Investing LLC now owns 34,681 shares of the utilities provider's stock valued at $2,459,000 after acquiring an additional 5,949 shares during the last quarter. Institutional investors own 78.72% of the company's stock.

Analysts Set New Price Targets

NEE has been the subject of several analyst reports. Barclays raised their price target on shares of NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. UBS Group lowered their target price on shares of NextEra Energy from $94.00 to $84.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Melius began coverage on shares of NextEra Energy in a research note on Wednesday. They set a "buy" rating and a $77.00 target price for the company. Morgan Stanley lowered their target price on shares of NextEra Energy from $95.00 to $94.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. Finally, HSBC lowered their target price on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $83.85.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, EVP Robert Coffey sold 7,500 shares of NextEra Energy stock in a transaction 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 completion of the sale, the executive vice president directly owned 26,539 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Also, Treasurer James Michael May sold 2,177 shares of NextEra Energy stock in a transaction 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 sale, the treasurer directly owned 27,662 shares of the company's stock, valued at approximately $2,143,805. This trade represents a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

NextEra Energy Trading Down 0.2%

NEE opened at $76.0450 on Friday. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.10. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. The company has a market cap of $156.60 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 2.62 and a beta of 0.63. The company has a fifty day moving average price of $73.01 and a two-hundred day moving average price of $70.75.

NextEra Energy (NYSE:NEE - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $7.52 billion. During the same period in the previous year, the firm posted $0.96 earnings per share. The business's revenue was up 10.4% compared to the same quarter last year. Analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Announces Dividend

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

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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