NewEdge Wealth LLC Cuts Stake in NextEra Energy, Inc. $NEE

NewEdge Wealth LLC cut its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 11.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,156 shares of the utilities provider’s stock after selling 14,695 shares during the period. NewEdge Wealth LLC’s holdings in NextEra Energy were worth $10,417,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in NextEra Energy in the fourth quarter valued at about $2,816,327,000. Employees Provident Fund Board purchased a new stake in shares of NextEra Energy during the fourth quarter worth about $240,840,000. Pictet Asset Management Holding SA grew its stake in shares of NextEra Energy by 47.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 9,254,022 shares of the utilities provider’s stock worth $742,913,000 after acquiring an additional 2,972,924 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of NextEra Energy by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 216,033,697 shares of the utilities provider’s stock valued at $17,343,185,000 after acquiring an additional 2,234,176 shares in the last quarter. Finally, Amundi raised its position in shares of NextEra Energy by 16.7% in the 3rd quarter. Amundi now owns 12,461,783 shares of the utilities provider’s stock valued at $1,012,129,000 after purchasing an additional 1,780,881 shares during the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on NEE shares. JPMorgan Chase & Co. lifted their target price on shares of NextEra Energy from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Scotiabank upped their price target on shares of NextEra Energy from $102.00 to $110.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. BTIG Research reaffirmed a “buy” rating and issued a $112.00 price target on shares of NextEra Energy in a report on Friday, April 24th. Weiss Ratings downgraded shares of NextEra Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Finally, Wall Street Zen raised shares of NextEra Energy from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, NextEra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $99.23.

NextEra Energy Trading Up 0.6%

Shares of NextEra Energy stock opened at $89.95 on Friday. The stock has a market cap of $187.58 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 2.44 and a beta of 0.67. The firm has a fifty day moving average price of $87.45 and a 200 day moving average price of $89.47. NextEra Energy, Inc. has a 1 year low of $69.24 and a 1 year high of $98.75. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.54 and a quick ratio of 0.44.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Thursday, April 23rd. The utilities provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.03 by $0.06. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.43 billion. NextEra Energy had a net margin of 29.36% and a return on equity of 12.25%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 earnings per share. Equities research analysts predict that NextEra Energy, Inc. will post 4.02 earnings per share for the current year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were issued a $0.6232 dividend. This represents a $2.49 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, June 5th. NextEra Energy’s payout ratio is 63.36%.

NextEra Energy Profile

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.