NextEra Energy, Inc. (NYSE:NEE) Shares Acquired by UNIVEST FINANCIAL Corp

Key Points

• UNIVEST FINANCIAL Corp increased its stake in NextEra Energy by 10.3%, owning approximately $24.56 million worth of the utility's stock, which constitutes about 1.6% of its investment portfolio.
• Several institutional investors, including Northern Trust Corp and UBS AM, have recently boosted their positions in NextEra Energy, highlighting strong confidence in the company among major stakeholders.
• NextEra Energy reported $1.05 earnings per share for the last quarter, exceeding analysts' expectations, although its revenue fell short compared to estimates at $6.70 billion.

UNIVEST FINANCIAL Corp grew its position in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 10.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 346,396 shares of the utilities provider's stock after buying an additional 32,231 shares during the period. NextEra Energy comprises 1.6% of UNIVEST FINANCIAL Corp's portfolio, making the stock its 15th largest position. UNIVEST FINANCIAL Corp's holdings in NextEra Energy were worth $24,556,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Somerset Trust Co lifted its holdings in shares of NextEra Energy by 5.2% in the 1st quarter. Somerset Trust Co now owns 89,709 shares of the utilities provider's stock worth $6,359,000 after purchasing an additional 4,445 shares during the last quarter. Elyxium Wealth LLC bought a new stake in shares of NextEra Energy in the 1st quarter worth approximately $783,000. Viking Fund Management LLC lifted its holdings in shares of NextEra Energy by 67.8% in the 1st quarter. Viking Fund Management LLC now owns 495,000 shares of the utilities provider's stock worth $35,091,000 after purchasing an additional 200,000 shares during the last quarter. Trust Co. of Vermont lifted its holdings in shares of NextEra Energy by 2.2% in the 1st quarter. Trust Co. of Vermont now owns 385,592 shares of the utilities provider's stock worth $27,335,000 after purchasing an additional 8,472 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of NextEra Energy by 20.7% in the 1st quarter. GAMMA Investing LLC now owns 34,681 shares of the utilities provider's stock worth $2,459,000 after purchasing an additional 5,949 shares during the last quarter. Institutional investors own 78.72% of the company's stock.

NextEra Energy Price Performance

Shares of NEE stock traded down $0.65 during mid-day trading on Friday, hitting $70.41. 6,627,959 shares of the stock traded hands, compared to its average volume of 9,376,540. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month high of $86.10. The firm has a market cap of $144.99 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 2.42 and a beta of 0.63. The company's 50-day simple moving average is $72.26 and its 200-day simple moving average is $70.53. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its quarterly earnings results 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 return on equity of 12.31% and a net margin of 22.84%. The company had revenue of $6.70 billion for the quarter, compared to analysts' expectations of $7.52 billion. During the same period last year, the firm earned $0.96 EPS. The firm's revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities research analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, August 28th will be given a dividend of $0.5665 per share. The ex-dividend date is Thursday, August 28th. This represents a $2.27 annualized dividend and a dividend yield of 3.2%. NextEra Energy's dividend payout ratio (DPR) is 79.37%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Erste Group Bank downgraded NextEra Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. BMO Capital Markets raised their price target on NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. HSBC cut their price target on NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Barclays raised their price target on NextEra Energy from $65.00 to $67.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Finally, Wells Fargo & Company cut their target price on NextEra Energy from $102.00 to $97.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. 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.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $84.42.

Insider Activity

In other news, Treasurer James Michael May sold 2,177 shares of NextEra Energy stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total transaction of $168,717.50. Following the transaction, the treasurer directly owned 27,662 shares in the company, valued at approximately $2,143,805. This trade represents a 7.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles E. Sieving sold 23,684 shares of NextEra Energy stock in a transaction on Friday, May 9th. The stock was sold at an average price of $70.00, for a total value of $1,657,880.00. Following the completion of the transaction, the executive vice president owned 196,817 shares in the company, valued at $13,777,190. The trade was a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,361 shares of company stock worth $2,365,398. 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.