Byrne Asset Management LLC Sells 288 Shares of NextEra Energy, Inc. $NEE

by · The Markets Daily

Byrne Asset Management LLC decreased its position in shares of NextEra Energy, Inc. (NYSE:NEE – Free Report) by 15.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,551 shares of the utilities provider’s stock after selling 288 shares during the quarter. Byrne Asset Management LLC’s holdings in NextEra Energy were worth $108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NEE. Brighton Jones LLC boosted its stake in NextEra Energy by 7.0% during the 4th quarter. Brighton Jones LLC now owns 28,282 shares of the utilities provider’s stock worth $2,028,000 after acquiring an additional 1,840 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in NextEra Energy by 6.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,854 shares of the utilities provider’s stock worth $348,000 after acquiring an additional 298 shares during the last quarter. Tema Etfs LLC bought a new position in NextEra Energy during the 4th quarter worth approximately $389,000. Tidal Investments LLC lifted its stake in NextEra Energy by 8.5% in the fourth quarter. Tidal Investments LLC now owns 63,489 shares of the utilities provider’s stock valued at $4,552,000 after buying an additional 4,955 shares in the last quarter. Finally, Tybourne Capital Management HK Ltd. lifted its stake in NextEra Energy by 101.8% in the fourth quarter. Tybourne Capital Management HK Ltd. now owns 53,137 shares of the utilities provider’s stock valued at $3,809,000 after buying an additional 26,806 shares in the last quarter. Institutional investors own 78.72% of the company’s stock.

Analyst Upgrades and Downgrades

NEE has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of NextEra Energy from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, August 22nd. Barclays lifted their price target on shares of NextEra Energy from $65.00 to $67.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Mizuho set a $78.00 price target on shares of NextEra Energy in a research note on Thursday, August 21st. Melius initiated coverage on shares of NextEra Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $77.00 price target on the stock. Finally, BMO Capital Markets lifted their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, NextEra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $84.00.

Check Out Our Latest Stock Report on NextEra Energy

Insider Activity at NextEra Energy

In other news, Treasurer James Michael May sold 2,177 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total value of $168,717.50. Following the transaction, the treasurer directly owned 27,662 shares of the company’s stock, valued at $2,143,805. This represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Dunne sold 10,000 shares of the stock in a transaction dated 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 directly owned 62,064 shares in the company, valued at $4,393,510.56. The trade was a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,523 shares of company stock valued at $1,476,245 over the last three months. Company insiders own 0.18% of the company’s stock.

NextEra Energy Price Performance

Shares of NEE opened at $71.54 on Tuesday. The company has a market cap of $147.32 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 2.47 and a beta of 0.65. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.10. The company’s fifty day simple moving average is $73.03 and its 200 day simple moving average is $71.08. 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 (NYSE:NEE – Get Free Report) last issued its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. The business had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.96 earnings per share. On average, research analysts forecast 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. Stockholders of record on Thursday, August 28th were given 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

(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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