University of Texas Texas AM Investment Management Co. Sells 24,958 Shares of NextEra Energy, Inc. $NEE

Key Points

• University of Texas/Texas A&M Investment Management Co. cut its NextEra Energy stake by 89.9%, selling 24,958 shares in the third quarter and retaining 2,817 shares worth about $213,000.
• Other institutional investors increased or initiated positions, and institutions collectively owned 78.72% of NextEra shares.
• NextEra reported quarterly EPS of $1.24, ahead of estimates, while revenue of $8.09 billion fell short of forecasts. It also declared a quarterly dividend of $0.6232 per share.

University of Texas Texas AM Investment Management Co. trimmed its holdings in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 89.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,817 shares of the utilities provider's stock after selling 24,958 shares during the quarter. University of Texas Texas AM Investment Management Co.'s holdings in NextEra Energy were worth $213,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc bought a new position in shares of NextEra Energy in the second quarter worth about $1,465,987,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in NextEra Energy by 5.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,302,084 shares of the utilities provider's stock worth $1,430,834,000 after buying an additional 895,824 shares during the period. Amundi lifted its holdings in NextEra Energy by 46.5% during the 2nd quarter. Amundi now owns 13,329,077 shares of the utilities provider's stock valued at $1,169,839,000 after buying an additional 4,231,814 shares in the last quarter. Bessemer Group Inc. lifted its holdings in NextEra Energy by 8.5% during the 1st quarter. Bessemer Group Inc. now owns 10,187,013 shares of the utilities provider's stock valued at $946,169,000 after buying an additional 799,546 shares in the last quarter. Finally, GQG Partners LLC bought a new stake in NextEra Energy during the 2nd quarter valued at about $651,293,000. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Stock Performance

Shares of NextEra Energy stock opened at $86.92 on Monday. The firm has a market cap of $182.30 billion, a P/E ratio of 15.66, a P/E/G ratio of 2.69 and a beta of 0.60. The company has a current ratio of 0.53, a quick ratio of 0.45 and a debt-to-equity ratio of 1.33. NextEra Energy, Inc. has a 12 month low of $74.41 and a 12 month high of $98.75. The stock's fifty day moving average price is $80.50 and its 200-day moving average price is $87.27.

NextEra Energy (NYSE:NEE - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The utilities provider reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. NextEra Energy had a net margin of 40.37% and a return on equity of 12.27%. The company had revenue of $8.09 billion during the quarter, compared to analyst estimates of $8.47 billion. During the same period in the prior year, the firm earned $1.13 earnings per share. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities research analysts expect that NextEra Energy, Inc. will post 4.01 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 27th will be issued a $0.6232 dividend. The ex-dividend date is Friday, November 27th. This represents a $2.49 annualized dividend and a dividend yield of 2.9%. NextEra Energy's payout ratio is currently 44.86%.

NextEra Energy News Summary

Here are the key news stories impacting NextEra Energy this week:

• Positive Sentiment: Clean-energy stocks rallied after Democrats won control of Congress, and the article says NextEra captured the rally. Its battery development and ability to supply power to data centers may help it benefit from rising electricity demand. NextEra Energy Vs. AES Corporation: Utility Scale Energy Production Just Got a Major Blue Boost
• Positive Sentiment: A Virginia Chamber of Commerce-commissioned study says the proposed Dominion merger could bring thousands of jobs to Virginia, adding an economic-benefit argument in support of the deal. Virginia Chamber of Commerce promotes study touting Dominion merger benefits
• Neutral Sentiment: NextEra said senior management will participate in the EEI Financial Conference Nov. 8–10. The announcement does not identify new financial guidance or a specific business update. NextEra Energy to participate in EEI Financial Conference
• Neutral Sentiment: Another report describes the Virginia merger review as advancing with safeguards, but the available headline does not detail the terms or indicate whether approval is assured. NextEra Energy stock gains safeguards as Virginia merger review advances
• Negative Sentiment: Faith leaders and community advocates urged Virginia regulators to reject NextEra’s proposed $67 billion acquisition of Dominion, highlighting opposition and continued regulatory risk around the transaction. Faith Leaders Urge SCC to Reject Dominion-NextEra Merger

Wall Street Analyst Weigh In

Several research firms have issued reports on NEE. HC Wainwright reissued a "buy" rating on shares of NextEra Energy in a research report on Monday, July 27th. Seaport Research Partners reaffirmed a "sell" rating and set a $56.00 target price (up from $55.00) on shares of NextEra Energy in a research report on Friday, October 2nd. Wells Fargo & Company raised shares of NextEra Energy to a "strong-buy" rating in a research note on Monday, October 12th. Mizuho decreased their price target on shares of NextEra Energy from $95.00 to $80.00 and set a "neutral" rating for the company in a research note on Tuesday, October 6th. Finally, Wall Street Zen upgraded NextEra Energy from a "strong sell" rating to a "sell" rating in a report on Saturday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $97.80.

NextEra Energy Company Profile

NextEra Energy, Inc is an energy company whose businesses include Florida Power & Light Company (FPL), a regulated electric utility, and NextEra Energy Resources, a developer and operator of energy infrastructure. FPL generates, transmits and distributes electricity to customers across Florida.

NextEra Energy Resources develops and operates projects in North America, including wind and solar generation, battery storage, and natural gas and nuclear facilities. The company also invests in transmission infrastructure and provides energy-related services.

The company traces its roots to 1925, when Florida Power & Light was established.

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