Belpointe Asset Management LLC Sells 17,023 Shares of NextEra Energy, Inc. $NEE

Belpointe Asset Management LLC lowered its stake in NextEra Energy, Inc. (NYSE:NEE) by 30.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,722 shares of the utilities provider’s stock after selling 17,023 shares during the period. Belpointe Asset Management LLC’s holdings in NextEra Energy were worth $2,758,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Arkfeld Wealth Strategies L.L.C. raised its stake in NextEra Energy by 0.9% in the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 15,249 shares of the utilities provider’s stock worth $1,140,000 after buying an additional 136 shares in the last quarter. Pine Haven Investment Counsel Inc grew its holdings in shares of NextEra Energy by 2.3% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 6,350 shares of the utilities provider’s stock worth $441,000 after acquiring an additional 140 shares during the period. Tradition Wealth Management LLC raised its position in shares of NextEra Energy by 2.2% in the 1st quarter. Tradition Wealth Management LLC now owns 6,625 shares of the utilities provider’s stock worth $470,000 after acquiring an additional 143 shares in the last quarter. Eagle Wealth Strategies LLC lifted its stake in shares of NextEra Energy by 1.4% in the 2nd quarter. Eagle Wealth Strategies LLC now owns 11,154 shares of the utilities provider’s stock valued at $774,000 after purchasing an additional 149 shares during the period. Finally, Gratus Wealth Advisors LLC boosted its position in shares of NextEra Energy by 4.1% during the second quarter. Gratus Wealth Advisors LLC now owns 3,873 shares of the utilities provider’s stock valued at $269,000 after purchasing an additional 153 shares in the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Stock Up 2.6%

Shares of NextEra Energy stock opened at $82.13 on Tuesday. The stock has a market capitalization of $169.13 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 2.76 and a beta of 0.66. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54. The company has a 50-day simple moving average of $73.20 and a two-hundred day simple moving average of $71.36. NextEra Energy, Inc. has a 52-week low of $61.72 and a 52-week high of $86.00.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data 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. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same period in the previous year, the business earned $0.96 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 28th were given a dividend of $0.5665 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.27 annualized dividend and a dividend yield of 2.8%. NextEra Energy’s dividend payout ratio (DPR) is 79.37%.

Insider Buying and Selling

In other news, Treasurer James Michael May sold 2,177 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total transaction of $168,717.50. Following the completion of the transaction, the treasurer directly owned 27,662 shares of the company’s stock, valued at $2,143,805. The trade was a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Charles E. Sieving sold 11,336 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $80.00, for a total transaction of $906,880.00. Following the completion of the sale, the executive vice president owned 167,481 shares in the company, valued at $13,398,480. This represents a 6.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,705 shares of company stock worth $2,446,490 in the last three months. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on NEE. JPMorgan Chase & Co. increased their price objective on NextEra Energy from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, August 22nd. Barclays increased their price target on shares of NextEra Energy from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Melius assumed coverage on shares of NextEra Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $77.00 price target for the company. HSBC cut their price objective on shares of NextEra Energy from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Friday, July 11th. Finally, BMO Capital Markets lifted their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.08.

NextEra Energy Company Profile

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.