NextEra Energy, Inc. (NYSE:NEE) Stake Cut by TD Asset Management Inc

Key Points

• TD Asset Management Inc significantly reduced its stake in NextEra Energy by selling 2,955,101 shares, resulting in a 75% decrease in their holdings during the first quarter.
• NextEra Energy's recent quarterly earnings report showed an EPS of $1.05, surpassing expectations, but revenue fell short at $6.70 billion compared to the forecast of $7.52 billion.
• The company declared a quarterly dividend of $0.5665, translating to an annual yield of 3.15%, with the ex-dividend date noted for August 28th.

TD Asset Management Inc trimmed its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 75.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 987,442 shares of the utilities provider's stock after selling 2,955,101 shares during the period. TD Asset Management Inc's holdings in NextEra Energy were worth $70,000,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEE. Bellwether Advisors LLC acquired a new position in shares of NextEra Energy during the 4th quarter valued at about $30,000. IMA Advisory Services Inc. acquired a new position in shares of NextEra Energy during the 1st quarter valued at about $35,000. Copia Wealth Management acquired a new position in shares of NextEra Energy during the 4th quarter valued at about $36,000. CBIZ Investment Advisory Services LLC increased its stake in shares of NextEra Energy by 237.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 366 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new position in shares of NextEra Energy during the 1st quarter valued at about $40,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NEE shares. Wells Fargo & Company dropped their price objective on shares of NextEra Energy from $102.00 to $97.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. HSBC dropped their price objective 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. Erste Group Bank downgraded shares of NextEra Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. BMO Capital Markets increased their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, UBS Group dropped 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 report on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, NextEra Energy currently has a consensus rating of "Moderate Buy" and an average price target of $84.42.

NextEra Energy Stock Down 0.2%

NYSE:NEE traded down $0.14 during trading hours on Thursday, hitting $70.85. The stock had a trading volume of 3,130,586 shares, compared to its average volume of 12,135,939. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.10. The business has a 50 day simple moving average of $72.13 and a two-hundred day simple moving average of $70.47. The company has a market cap of $145.90 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 2.48 and a beta of 0.67.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) 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 company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter last year, the company earned $0.96 earnings per share. NextEra Energy's revenue for the quarter was up 10.4% on a year-over-year basis. Analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 3.20%. The ex-dividend date is Thursday, August 28th. NextEra Energy's dividend payout ratio (DPR) is currently 79.37%.

Insider Activity

In other news, EVP Robert Coffey sold 7,500 shares of the 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 completion of the transaction, the executive vice president directly owned 26,539 shares in the company, valued at approximately $1,906,561.76. This represents a 22.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Treasurer James Michael May sold 2,177 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total value of $168,717.50. Following the transaction, the treasurer 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. In the last three months, insiders sold 33,361 shares of company stock worth $2,365,398. 0.20% of the stock is currently owned by insiders.

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.