Logan Capital Management Inc. Reduces Position in NextEra Energy, Inc. $NEE

by · The Cerbat Gem

Logan Capital Management Inc. cut its position in shares of NextEra Energy, Inc. (NYSE:NEE – Free Report) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,515 shares of the utilities provider’s stock after selling 2,665 shares during the period. Logan Capital Management Inc.’s holdings in NextEra Energy were worth $4,270,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of NextEra Energy by 22.7% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 172,334 shares of the utilities provider’s stock worth $11,963,000 after purchasing an additional 31,900 shares during the period. Advisory Alpha LLC boosted its stake in shares of NextEra Energy by 9.2% during the 2nd quarter. Advisory Alpha LLC now owns 17,089 shares of the utilities provider’s stock worth $1,186,000 after purchasing an additional 1,446 shares during the period. SYM FINANCIAL Corp purchased a new position in shares of NextEra Energy during the 2nd quarter worth about $206,000. Facet Wealth Inc. boosted its stake in shares of NextEra Energy by 19.9% during the 2nd quarter. Facet Wealth Inc. now owns 6,438 shares of the utilities provider’s stock worth $457,000 after purchasing an additional 1,067 shares during the period. Finally, United Capital Management of KS Inc. boosted its position in NextEra Energy by 3.1% in the 2nd quarter. United Capital Management of KS Inc. now owns 145,345 shares of the utilities provider’s stock valued at $10,090,000 after buying an additional 4,388 shares during the period. 78.72% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Trading Down 2.8%

NYSE NEE opened at $83.58 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.36. The firm has a market cap of $172.12 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 2.91 and a beta of 0.66. The company has a 50 day moving average price of $76.98 and a 200 day moving average price of $73.12. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $87.53.

NextEra Energy (NYSE:NEE – Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.04 by $0.09. The firm had revenue of $7.97 billion during the quarter, compared to analyst estimates of $8.13 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. NextEra Energy’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. As a group, sell-side analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be paid a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, November 21st. NextEra Energy’s payout ratio is 79.37%.

Insider Buying and Selling

In related news, EVP Michael Dunne sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $70.79, for a total transaction of $707,900.00. Following the completion of the transaction, the executive vice president owned 62,064 shares in the company, valued at $4,393,510.56. The trade was a 13.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Lemasney sold 846 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $74.90, for a total transaction of $63,365.40. Following the transaction, the executive vice president owned 9,267 shares in the company, valued at $694,098.30. The trade was a 8.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,028 shares of company stock worth $1,738,973 in the last 90 days. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on NEE. New Street Research set a $84.00 price objective on shares of NextEra Energy in a research report on Monday, October 13th. JPMorgan Chase & Co. boosted their price objective on shares of NextEra Energy from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Evercore ISI reissued an “outperform” rating and issued a $93.00 price objective on shares of NextEra Energy in a research report on Tuesday. HSBC lowered their price objective on shares of NextEra Energy from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Friday, July 11th. Finally, Mizuho boosted their price objective on shares of NextEra Energy from $78.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.06.

Get Our Latest Analysis on NEE

NextEra Energy Company Profile

(Free Report)

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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