Arrow Financial Corp Grows Position in NextEra Energy, Inc. (NEE)
Arrow Financial Corp increased its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,240 shares of the utilities provider’s stock after purchasing an additional 51 shares during the period. Arrow Financial Corp’s holdings in NextEra Energy were worth $2,136,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. Montgomery Investment Management Inc. lifted its holdings in NextEra Energy by 5.5% during the 2nd quarter. Montgomery Investment Management Inc. now owns 15,610 shares of the utilities provider’s stock worth $2,187,000 after purchasing an additional 810 shares during the last quarter. Summit Financial Group Inc. acquired a new stake in NextEra Energy during the 2nd quarter worth approximately $312,000. Global X Management Co. LLC lifted its holdings in NextEra Energy by 38.7% during the 2nd quarter. Global X Management Co. LLC now owns 6,385 shares of the utilities provider’s stock worth $895,000 after purchasing an additional 1,780 shares during the last quarter. Guidant Wealth Advisors lifted its holdings in NextEra Energy by 10.8% during the 2nd quarter. Guidant Wealth Advisors now owns 2,384 shares of the utilities provider’s stock worth $336,000 after purchasing an additional 232 shares during the last quarter. Finally, HL Financial Services LLC lifted its holdings in NextEra Energy by 2.3% during the 2nd quarter. HL Financial Services LLC now owns 47,384 shares of the utilities provider’s stock worth $6,640,000 after purchasing an additional 1,053 shares during the last quarter. 75.41% of the stock is owned by institutional investors and hedge funds.
In related news, EVP John W. Ketchum sold 2,900 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $150.00, for a total value of $435,000.00. Following the sale, the executive vice president now owns 18,786 shares in the company, valued at $2,817,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James L. Robo sold 30,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $147.05, for a total value of $4,411,500.00. The disclosure for this sale can be found here. Insiders sold 63,385 shares of company stock worth $9,314,382 in the last quarter. 0.53% of the stock is currently owned by company insiders.
Several analysts recently weighed in on NEE shares. KeyCorp reissued a “buy” rating and set a $155.00 price target on shares of NextEra Energy in a report on Friday, September 1st. Morgan Stanley lifted their price objective on NextEra Energy from $167.00 to $169.00 and gave the company an “overweight” rating in a report on Friday, September 8th. Goldman Sachs Group, Inc. (The) started coverage on NextEra Energy in a report on Monday, July 24th. They issued a “buy” rating and a $160.00 price objective for the company. J P Morgan Chase & Co started coverage on NextEra Energy in a report on Thursday, September 7th. They issued an “overweight” rating and a $173.00 price objective for the company. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $156.00 price objective (up from $144.00) on shares of NextEra Energy in a report on Friday, June 23rd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. NextEra Energy presently has a consensus rating of “Buy” and a consensus target price of $151.15.
NextEra Energy, Inc. (NYSE:NEE) opened at 146.82 on Tuesday. NextEra Energy, Inc. has a 12-month low of $110.49 and a 12-month high of $151.60. The stock’s 50 day moving average price is $148.97 and its 200-day moving average price is $139.72. The firm has a market cap of $68.89 billion, a PE ratio of 16.82 and a beta of 0.33.
NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.76 by $0.10. NextEra Energy had a return on equity of 11.88% and a net margin of 24.26%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter last year, the business posted $1.67 earnings per share. The firm’s revenue was up 15.4% compared to the same quarter last year. Equities research analysts anticipate that NextEra Energy, Inc. will post $6.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were given a $0.9825 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $3.93 dividend on an annualized basis and a dividend yield of 2.69%. NextEra Energy’s dividend payout ratio (DPR) is presently 45.02%.
NextEra Energy 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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