NextEra Energy, Inc. $NEE Shares Sold by Summit Asset Management LLC

Summit Asset Management LLC trimmed its position in NextEra Energy, Inc. (NYSE:NEE) by 6.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,000 shares of the utilities provider’s stock after selling 961 shares during the quarter. Summit Asset Management LLC’s holdings in NextEra Energy were worth $902,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Midwest Trust Co acquired a new position in NextEra Energy in the 2nd quarter worth approximately $15,606,000. DJE Kapital AG lifted its stake in NextEra Energy by 53.1% during the 2nd quarter. DJE Kapital AG now owns 111,518 shares of the utilities provider’s stock valued at $7,532,000 after acquiring an additional 38,655 shares during the period. Cincinnati Financial Corp boosted its holdings in shares of NextEra Energy by 79.2% in the 2nd quarter. Cincinnati Financial Corp now owns 86,000 shares of the utilities provider’s stock valued at $5,970,000 after acquiring an additional 38,000 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of NextEra Energy by 376.3% in the second quarter. Acadian Asset Management LLC now owns 59,739 shares of the utilities provider’s stock worth $4,145,000 after acquiring an additional 47,197 shares during the period. Finally, Mirabaud Asset Management Ltd increased its stake in shares of NextEra Energy by 16.1% in the second quarter. Mirabaud Asset Management Ltd now owns 57,376 shares of the utilities provider’s stock worth $4,067,000 after acquiring an additional 7,957 shares during the period. Institutional investors and hedge funds own 78.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays set a $88.00 target price on shares of NextEra Energy and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Argus set a $90.00 price objective on NextEra Energy in a report on Wednesday, October 29th. JPMorgan Chase & Co. upped their target price on NextEra Energy from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, August 22nd. Melius Research raised NextEra Energy to a “strong-buy” rating in a report on Wednesday, August 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of NextEra Energy in a report on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.22.

NextEra Energy Trading Up 2.3%

NEE stock opened at $83.92 on Friday. The company’s 50-day simple moving average is $78.17 and its 200-day simple moving average is $74.00. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.30. NextEra Energy, Inc. has a 52-week low of $61.72 and a 52-week high of $87.53. The firm has a market cap of $174.76 billion, a P/E ratio of 26.72, a PEG ratio of 2.76 and a beta of 0.69.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.09. The firm had revenue of $7.97 billion during the quarter, compared to analyst estimates of $8.13 billion. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.NextEra Energy’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 EPS. As a group, equities analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 21st will be paid a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, November 21st. NextEra Energy’s dividend payout ratio is presently 71.97%.

Insider Activity

In other NextEra Energy news, EVP Michael Dunne sold 10,000 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $70.79, for a total transaction of $707,900.00. Following the completion of the transaction, the executive vice president directly owned 62,064 shares in the company, valued at approximately $4,393,510.56. This represents a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Charles E. Sieving sold 11,336 shares of the stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total transaction of $906,880.00. Following the transaction, the executive vice president directly owned 167,481 shares in the company, valued at approximately $13,398,480. The trade was a 6.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 23,028 shares of company stock worth $1,738,973 in the last quarter. Corporate insiders own 0.20% of the company’s stock.

About NextEra Energy

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.