Wendell David Associates Inc. Decreases Stock Position in NextEra Energy, Inc. $NEE

Key Points

• Wendell David Associates Inc. reduced its stake in NextEra Energy, Inc. by 2.1%, now owning 248,261 shares valued at approximately $17.23 million.
• NextEra Energy reported a Q2 earnings per share of $1.05, exceeding estimates, although its revenue fell short of projections at $6.70 billion.
• The company recently declared a quarterly dividend of $0.5665 per share, representing an annualized yield of 2.7% and a payout ratio of 79.37%.

Wendell David Associates Inc. lessened its stake in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 248,261 shares of the utilities provider's stock after selling 5,210 shares during the period. NextEra Energy makes up approximately 1.7% of Wendell David Associates Inc.'s holdings, making the stock its 16th largest holding. Wendell David Associates Inc.'s holdings in NextEra Energy were worth $17,234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Avity Investment Management Inc. grew its position in NextEra Energy by 1.7% in the 2nd quarter. Avity Investment Management Inc. now owns 506,515 shares of the utilities provider's stock valued at $35,162,000 after acquiring an additional 8,565 shares during the last quarter. Integrity Alliance LLC. grew its position in NextEra Energy by 41.8% in the 1st quarter. Integrity Alliance LLC. now owns 25,092 shares of the utilities provider's stock valued at $1,779,000 after acquiring an additional 7,401 shares during the last quarter. Elyxium Wealth LLC bought a new position in NextEra Energy in the 1st quarter valued at $783,000. Czech National Bank grew its position in NextEra Energy by 6.5% in the 2nd quarter. Czech National Bank now owns 503,202 shares of the utilities provider's stock valued at $34,932,000 after acquiring an additional 30,878 shares during the last quarter. Finally, Bowman & Co S.C. grew its position in NextEra Energy by 2.0% in the 2nd quarter. Bowman & Co S.C. now owns 13,452 shares of the utilities provider's stock valued at $933,000 after acquiring an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company's stock.

NextEra Energy Price Performance

Shares of NEE stock opened at $84.48 on Friday. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.74. The stock's 50-day moving average is $75.54 and its 200 day moving average is $72.24. The company has a market cap of $173.97 billion, a P/E ratio of 29.54, a PEG ratio of 2.85 and a beta of 0.66. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.54 and a quick ratio of 0.45.

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 for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $7.52 billion. During the same quarter last year, the company earned $0.96 earnings per share. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. Research analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 28th were given a dividend of $0.5665 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a yield of 2.7%. NextEra Energy's dividend payout ratio (DPR) is presently 79.37%.

Insider Activity at NextEra Energy

In other NextEra Energy news, EVP Michael Dunne sold 10,000 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $70.79, for a total value of $707,900.00. Following the completion of the sale, the executive vice president directly owned 62,064 shares in the company, valued at approximately $4,393,510.56. This trade represents a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Charles E. Sieving sold 11,336 shares of the stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $80.00, for a total value of $906,880.00. Following the completion of the sale, the executive vice president owned 167,481 shares of the company's stock, valued at approximately $13,398,480. This trade represents a 6.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,705 shares of company stock valued at $2,446,490 over the last 90 days. Company insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on NextEra Energy from $86.00 to $87.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Jefferies Financial Group reissued a "hold" rating and set a $85.00 price target (up previously from $77.00) on shares of NextEra Energy in a research report on Tuesday. New Street Research set a $84.00 price target on NextEra Energy in a research report on Monday, October 13th. Cowen initiated coverage on NextEra Energy in a research report on Wednesday. They set a "buy" rating on the stock. Finally, TD Cowen initiated coverage on NextEra Energy in a research report on Thursday. They set a "buy" rating and a $98.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $86.40.

About NextEra Energy

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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