Bright Rock Capital Management LLC Sells 4,000 Shares of NextEra Energy Inc (NEE)
Bright Rock Capital Management LLC reduced its stake in NextEra Energy Inc (NYSE:NEE) by 11.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,000 shares of the utilities provider’s stock after selling 4,000 shares during the quarter. Bright Rock Capital Management LLC’s holdings in NextEra Energy were worth $4,543,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Hanson McClain Inc. increased its stake in NextEra Energy by 6.0% in the 2nd quarter. Hanson McClain Inc. now owns 763 shares of the utilities provider’s stock worth $107,000 after buying an additional 43 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in NextEra Energy by 8.9% in the 1st 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 in the last quarter. Archford Capital Strategies LLC increased its stake in NextEra Energy by 76.9% in the 2nd quarter. Archford Capital Strategies LLC now owns 10,000 shares of the utilities provider’s stock worth $128,000 after buying an additional 4,347 shares in the last quarter. Highstreet Asset Management Inc. purchased a new stake in NextEra Energy in the 2nd quarter worth $134,000. Finally, Atlantic Trust LLC purchased a new stake in NextEra Energy in the 2nd quarter worth $154,000. 75.63% of the stock is currently owned by institutional investors.
NEE has been the subject of a number of analyst reports. BidaskClub upgraded NextEra Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research upgraded NextEra Energy from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a research note on Tuesday, October 10th. KeyCorp reiterated a “buy” rating and issued a $155.00 price target on shares of NextEra Energy in a research note on Friday, September 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $156.00 price target on shares of NextEra Energy in a research note on Tuesday, November 7th. Finally, Bank of America initiated coverage on NextEra Energy in a research note on Tuesday, October 24th. They issued a “buy” rating and a $166.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. NextEra Energy currently has a consensus rating of “Buy” and an average target price of $155.38.
Shares of NextEra Energy Inc (NYSE:NEE) traded down $0.57 during trading on Monday, hitting $157.47. The stock had a trading volume of 1,428,100 shares, compared to its average volume of 1,684,438. The stock has a market capitalization of $74,073.52, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 3.14 and a beta of 0.31. The company has a current ratio of 0.61, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11. NextEra Energy Inc has a 52-week low of $113.18 and a 52-week high of $159.28.
NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.08. The firm had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.89 billion. NextEra Energy had a return on equity of 11.86% and a net margin of 24.81%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.74 earnings per share. sell-side analysts forecast that NextEra Energy Inc will post 6.73 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be given a dividend of $0.9825 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $3.93 dividend on an annualized basis and a dividend yield of 2.50%. NextEra Energy’s payout ratio is 44.16%.
In other news, Director James L. Robo sold 30,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $151.52, for a total transaction of $4,545,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles E. Sieving sold 30,485 shares of the firm’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $146.56, for a total value of $4,467,881.60. Following the transaction, the executive vice president now owns 78,167 shares of the company’s stock, valued at approximately $11,456,155.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,385 shares of company stock valued at $9,748,482. Company insiders own 0.53% of the company’s stock.
About NextEra Energy
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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