Studio Investment Management LLC Sells 146 Shares of NextEra Energy, Inc. (NYSE:NEE)

by · The Cerbat Gem

Studio Investment Management LLC lowered its holdings in NextEra Energy, Inc. (NYSE:NEE – Free Report) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 93,069 shares of the utilities provider’s stock after selling 146 shares during the quarter. NextEra Energy makes up 1.7% of Studio Investment Management LLC’s portfolio, making the stock its 12th biggest position. Studio Investment Management LLC’s holdings in NextEra Energy were worth $7,867,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEE. Allen Capital Group LLC boosted its position in NextEra Energy by 126.3% during the 3rd quarter. Allen Capital Group LLC now owns 10,869 shares of the utilities provider’s stock valued at $919,000 after acquiring an additional 6,067 shares in the last quarter. Biltmore Family Office LLC boosted its position in NextEra Energy by 20.6% during the third quarter. Biltmore Family Office LLC now owns 6,820 shares of the utilities provider’s stock valued at $576,000 after purchasing an additional 1,165 shares in the last quarter. AlphaCore Capital LLC grew its stake in NextEra Energy by 17.8% in the third quarter. AlphaCore Capital LLC now owns 15,605 shares of the utilities provider’s stock valued at $1,319,000 after purchasing an additional 2,359 shares during the last quarter. Concorde Asset Management LLC bought a new position in NextEra Energy in the third quarter worth about $208,000. Finally, 49 Wealth Management LLC purchased a new stake in shares of NextEra Energy during the third quarter valued at about $234,000. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Trading Up 0.6 %

Shares of NextEra Energy stock opened at $77.37 on Friday. NextEra Energy, Inc. has a 1-year low of $53.95 and a 1-year high of $86.10. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33. The stock has a market cap of $159.10 billion, a P/E ratio of 22.89, a P/E/G ratio of 2.78 and a beta of 0.57. The stock’s 50 day simple moving average is $81.08 and its 200-day simple moving average is $77.64.

NextEra Energy (NYSE:NEE – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The company had revenue of $7.57 billion during the quarter, compared to analysts’ expectations of $8.11 billion. During the same period in the prior year, the business earned $0.94 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts predict that NextEra Energy, Inc. will post 3.41 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s dividend payout ratio (DPR) is presently 60.95%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NEE. BMO Capital Markets lifted their price target on shares of NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Bank of America raised their price target on NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Royal Bank of Canada lowered shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Scotiabank upped their price target on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company lifted their price objective on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $86.54.

Get Our Latest Report on NEE

Insider Buying and Selling at NextEra Energy

In other news, EVP Nicole J. Daggs sold 4,007 shares of NextEra Energy stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total transaction of $302,808.99. Following the sale, the executive vice president now owns 15,792 shares of the company’s stock, valued at approximately $1,193,401.44. The trade was a 20.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

About NextEra Energy

(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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