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NextEra Energy Inc (NYSE:NEE) Sees Significant Increase in Short Interest

Last updated on Saturday, October 17, 2020 | 2020 MarketBeat

NextEra Energy Inc (NYSE:NEE) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 5,630,000 shares, an increase of 35.7% from the September 15th total of 4,150,000 shares. Based on an average daily trading volume, of 1,840,000 shares, the short-interest ratio is presently 3.1 days.

In related news, CEO James L. Robo sold 41,466 shares of the company's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $276.59, for a total transaction of $11,469,080.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Treasurer Paul I. Cutler sold 8,772 shares of the company's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $285.00, for a total transaction of $2,500,020.00. Following the transaction, the treasurer now owns 86,839 shares of the company's stock, valued at $24,749,115. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,072 shares of company stock valued at $17,211,381. 0.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEE. Evolution Wealth Advisors LLC grew its stake in NextEra Energy by 129.8% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 108 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 61 shares during the period. Demars Financial Group LLC bought a new position in NextEra Energy in the 2nd quarter valued at $30,000. NuWave Investment Management LLC grew its stake in NextEra Energy by 164.6% in the 2nd quarter. NuWave Investment Management LLC now owns 209 shares of the utilities provider's stock valued at $50,000 after purchasing an additional 130 shares during the period. TRUE Private Wealth Advisors grew its stake in NextEra Energy by 406.7% in the 3rd quarter. TRUE Private Wealth Advisors now owns 228 shares of the utilities provider's stock valued at $63,000 after purchasing an additional 183 shares during the period. Finally, Tarbox Family Office Inc. grew its stake in NextEra Energy by 38.7% in the 2nd quarter. Tarbox Family Office Inc. now owns 319 shares of the utilities provider's stock valued at $77,000 after purchasing an additional 89 shares during the period. 75.97% of the stock is owned by institutional investors and hedge funds.

NYSE NEE traded up $7.14 during trading on Friday, hitting $305.60. 1,862,557 shares of the company's stock were exchanged, compared to its average volume of 2,457,025. The company has a market cap of $149.64 billion, a PE ratio of 42.15, a P/E/G ratio of 4.20 and a beta of 0.20. NextEra Energy has a fifty-two week low of $174.80 and a fifty-two week high of $308.06. The stock's 50 day moving average price is $284.10 and its two-hundred day moving average price is $260.24. The company has a current ratio of 0.61, a quick ratio of 0.50 and a debt-to-equity ratio of 1.03.

NextEra Energy shares are going to split before the market opens on Tuesday, October 27th. The 4-1 split was announced on Monday, September 14th. The newly minted shares will be distributed to shareholders after the closing bell on Monday, October 26th.

NextEra Energy (NYSE:NEE) last issued its earnings results on Friday, July 24th. The utilities provider reported $2.61 earnings per share for the quarter, topping analysts' consensus estimates of $2.50 by $0.11. NextEra Energy had a return on equity of 10.55% and a net margin of 18.71%. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the firm earned $2.35 earnings per share. NextEra Energy's revenue for the quarter was down 15.4% on a year-over-year basis. Analysts forecast that NextEra Energy will post 9.16 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, November 27th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.83%. NextEra Energy's payout ratio is currently 66.91%.

A number of brokerages have recently issued reports on NEE. Atlantic Securities started coverage on shares of NextEra Energy in a research note on Friday, September 4th. They issued an "overweight" rating and a $330.00 price objective for the company. UBS Group reduced their target price on shares of NextEra Energy from $296.00 to $290.00 and set a "buy" rating on the stock in a research note on Monday, June 22nd. BMO Capital Markets raised their target price on shares of NextEra Energy from $286.00 to $293.00 in a research note on Tuesday, September 15th. Morgan Stanley increased their price target on shares of NextEra Energy from $248.00 to $250.00 and gave the company an "equal weight" rating in a research report on Monday, October 5th. Finally, Wells Fargo & Company increased their price target on shares of NextEra Energy from $335.00 to $340.00 and gave the company an "overweight" rating in a research report on Tuesday, October 6th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. NextEra Energy presently has a consensus rating of "Buy" and an average price target of $272.69.

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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.

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