JGP Wealth Management LLC raised its position in NextEra Energy, Inc. (NYSE:NEE) by 23.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,120 shares of the utilities provider’s stock after buying an additional 26,519 shares during the quarter. NextEra Energy comprises about 2.2% of JGP Wealth Management LLC’s holdings, making the stock its 12th largest position. JGP Wealth Management LLC’s holdings in NextEra Energy were worth $10,121,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Hillsdale Investment Management Inc. bought a new stake in shares of NextEra Energy during the 2nd quarter valued at $32,000. Pinz Capital Management LP bought a new stake in shares of NextEra Energy during the 1st quarter valued at $37,000. Sage Financial Management Group Inc. bought a new stake in shares of NextEra Energy during the 1st quarter valued at $38,000. SRS Capital Advisors Inc. bought a new stake in shares of NextEra Energy during the 2nd quarter valued at $39,000. Finally, Disciplined Investments LLC raised its stake in shares of NextEra Energy by 35.0% during the 2nd quarter. Disciplined Investments LLC now owns 540 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 74.67% of the company’s stock.
Several research firms recently commented on NEE. Credit Suisse Group began coverage on NextEra Energy in a research report on Wednesday, July 14th. They set an “outperform” rating and a $85.00 target price for the company. Morgan Stanley reduced their target price on NextEra Energy from $80.00 to $79.00 and set an “equal weight” rating for the company in a research report on Friday, September 17th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $85.25.
NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Thursday, July 22nd. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. NextEra Energy had a return on equity of 10.84% and a net margin of 18.69%. The firm had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $4.91 billion. During the same period in the prior year, the business earned $2.61 EPS. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. Research analysts forecast that NextEra Energy, Inc. will post 2.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Friday, August 27th were issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Thursday, August 26th. NextEra Energy’s payout ratio is currently 66.67%.
In related news, CEO John W. Ketchum sold 12,151 shares of the stock in a transaction dated Wednesday, September 15th. The stock was sold at an average price of $84.33, for a total transaction of $1,024,693.83. Following the completion of the sale, the chief executive officer now directly owns 84,895 shares in the company, valued at approximately $7,159,195.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald R. Reagan sold 4,166 shares of the stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $84.00, for a total value of $349,944.00. Following the sale, the executive vice president now owns 28,043 shares of the company’s stock, valued at $2,355,612. The disclosure for this sale can be found here. Insiders sold a total of 23,213 shares of company stock valued at $1,891,838 over the last quarter. Company insiders own 0.38% of the company’s stock.
About NextEra Energy
NextEra Energy, Inc is an electric power and energy infrastructure company. It operates through the following segments: FPL & NEER. The FPL segment engages primarily in the generation, transmission, distribution and sale of electric energy in Florida. The NEER segment produces electricity from clean and renewable sources, including wind and solar.
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