Archford Capital Strategies LLC Reduces Position in NextEra Energy, Inc. (NEE)
Archford Capital Strategies LLC cut its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,653 shares of the utilities provider’s stock after selling 250 shares during the period. Archford Capital Strategies LLC’s holdings in NextEra Energy were worth $726,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of NEE. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in shares of NextEra Energy by 8.9% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 871 shares of the utilities provider’s stock worth $112,000 after buying an additional 71 shares during the period. Baystate Wealth Management LLC increased its stake in shares of NextEra Energy by 49.4% in the first quarter. Baystate Wealth Management LLC now owns 1,333 shares of the utilities provider’s stock worth $174,000 after buying an additional 441 shares during the period. Ruggie Capital Group bought a new stake in shares of NextEra Energy during the first quarter worth $191,000. Oarsman Capital Inc. bought a new stake in shares of NextEra Energy during the first quarter worth $200,000. Finally, Appleton Group LLC bought a new stake in shares of NextEra Energy during the first quarter worth $202,000. 75.64% of the stock is owned by hedge funds and other institutional investors.
NextEra Energy, Inc. (NYSE:NEE) traded down 0.03% during trading on Thursday, hitting $150.58. 428,129 shares of the stock were exchanged. The stock has a market capitalization of $70.66 billion, a price-to-earnings ratio of 17.25 and a beta of 0.32. The firm has a 50-day moving average of $145.70 and a 200-day moving average of $137.05. NextEra Energy, Inc. has a 52 week low of $110.49 and a 52 week high of $151.19.
NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.76 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.44 billion. NextEra Energy had a return on equity of 11.88% and a net margin of 24.26%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 EPS. Equities research analysts anticipate that NextEra Energy, Inc. will post $6.72 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.9825 per share. This represents a $3.93 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Wednesday, August 23rd. NextEra Energy’s payout ratio is presently 45.02%.
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A number of analysts have weighed in on NEE shares. BidaskClub downgraded shares of NextEra Energy from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. BMO Capital Markets reissued a “buy” rating and issued a $156.00 price target (up from $144.00) on shares of NextEra Energy in a report on Friday, June 23rd. Goldman Sachs Group Inc started coverage on shares of NextEra Energy in a report on Monday, July 24th. They issued a “buy” rating and a $160.00 price target for the company. Zacks Investment Research downgraded shares of NextEra Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $158.00 price target (up from $150.00) on shares of NextEra Energy in a report on Monday, June 19th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. NextEra Energy presently has a consensus rating of “Buy” and an average target price of $148.64.
In other NextEra Energy news, Director James L. Robo sold 30,000 shares of NextEra Energy stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $147.05, for a total transaction of $4,411,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by insiders.
NextEra Energy Company Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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