Viking Fund Management LLC Has $29.50 Million Stock Position in NextEra Energy, Inc. $NEE

Key Points

• Viking Fund Management LLC has reduced its holdings in NextEra Energy by 14.1%, now owning approximately $29.5 million worth of shares, making it the fund's second largest holding.
• 92.72% of NextEra Energy's stock is held by institutional investors, with several entities recently increasing their stakes in the company during the first quarter.
• NextEra Energy recently declared a quarterly dividend of $0.5665 with a dividend yield of 3.2%, showcasing its commitment to returning value to shareholders.

Viking Fund Management LLC reduced its holdings in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 14.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 425,000 shares of the utilities provider's stock after selling 70,000 shares during the quarter. NextEra Energy accounts for about 4.1% of Viking Fund Management LLC's holdings, making the stock its 2nd biggest holding. Viking Fund Management LLC's holdings in NextEra Energy were worth $29,504,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. 1 North Wealth Services LLC bought a new stake in shares of NextEra Energy during the 1st quarter worth $26,000. Nova Wealth Management Inc. bought a new stake in shares of NextEra Energy during the 1st quarter worth $32,000. IMA Advisory Services Inc. bought a new stake in shares of NextEra Energy during the 1st quarter worth $35,000. Copia Wealth Management bought a new stake in shares of NextEra Energy during the 4th quarter worth $36,000. Finally, Semmax Financial Advisors Inc. lifted its position in shares of NextEra Energy by 335.0% during the 1st quarter. Semmax Financial Advisors Inc. now owns 509 shares of the utilities provider's stock worth $36,000 after buying an additional 392 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Robert Coffey sold 7,500 shares of the firm's 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 sale, the executive vice president owned 26,539 shares of the company's stock, valued at $1,906,561.76. This trade represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Lemasney sold 846 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $71.90, for a total value of $60,827.40. Following the sale, the executive vice president directly owned 10,113 shares of the company's stock, valued at $727,124.70. This represents a 7.72% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,523 shares of company stock worth $1,476,245. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on NEE. Melius Research upgraded NextEra Energy to a "strong-buy" rating in a research report on Wednesday, August 20th. Melius started coverage on NextEra Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $77.00 price objective for the company. Barclays upped their target price on NextEra Energy from $65.00 to $67.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Morgan Stanley reaffirmed an "overweight" rating on shares of NextEra Energy in a report on Thursday, August 21st. Finally, BMO Capital Markets upped their target price on NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, NextEra Energy has an average rating of "Moderate Buy" and a consensus target price of $84.00.

NextEra Energy Trading Up 0.4%

Shares of NEE stock opened at $71.04 on Friday. The stock has a market cap of $146.29 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 2.44 and a beta of 0.65. The stock has a 50-day moving average of $72.77 and a 200-day moving average of $71.06. 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.

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 for the quarter, beating the consensus estimate of $1.01 by $0.04. The company had revenue of $6.70 billion during the quarter, compared to analysts' expectations of $7.52 billion. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The business's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.96 earnings per share. On average, equities research analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 28th were paid a $0.5665 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.27 annualized dividend and a dividend yield of 3.2%. NextEra Energy's dividend payout ratio is presently 79.37%.

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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