Pinnacle Associates Ltd. Sells 3,336 Shares of NextEra Energy, Inc. (NEE)
Pinnacle Associates Ltd. decreased its position in NextEra Energy, Inc. (NYSE:NEE) by 4.5% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 70,717 shares of the utilities provider’s stock after selling 3,336 shares during the period. Pinnacle Associates Ltd.’s holdings in NextEra Energy were worth $9,078,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in NextEra Energy during the fourth quarter worth $678,763,000. Luminus Management LLC bought a new stake in NextEra Energy during the fourth quarter worth $126,727,000. APG Asset Management N.V. boosted its stake in NextEra Energy by 75.0% in the first quarter. APG Asset Management N.V. now owns 1,971,565 shares of the utilities provider’s stock worth $253,090,000 after buying an additional 844,862 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in NextEra Energy during the fourth quarter worth $94,753,000. Finally, Canada Pension Plan Investment Board boosted its stake in NextEra Energy by 7,771.4% in the first quarter. Canada Pension Plan Investment Board now owns 399,000 shares of the utilities provider’s stock worth $51,220,000 after buying an additional 393,931 shares during the last quarter. 76.77% of the stock is owned by institutional investors.
NextEra Energy, Inc. (NYSE NEE) opened at 141.49 on Wednesday. The stock’s 50 day moving average price is $141.24 and its 200-day moving average price is $132.03. NextEra Energy, Inc. has a 52 week low of $110.49 and a 52 week high of $144.87. The stock has a market capitalization of $66.24 billion, a P/E ratio of 17.21 and a beta of 0.31.
NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Friday, April 21st. The utilities provider reported $1.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.24. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.99 billion. NextEra Energy had a return on equity of 11.82% and a net margin of 23.58%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.55 earnings per share. Equities research analysts expect that NextEra Energy, Inc. will post $6.70 earnings per share for the current year.
NEE has been the subject of a number of recent research reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $144.00 price objective on shares of NextEra Energy in a research report on Tuesday, May 2nd. Morgan Stanley increased their price objective on NextEra Energy from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, May 8th. Barclays PLC reaffirmed an “overweight” rating and set a $150.00 price objective (up from $139.00) on shares of NextEra Energy in a research report on Sunday, April 23rd. Deutsche Bank AG increased their price objective on NextEra Energy from $128.00 to $132.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. Finally, BidaskClub cut NextEra Energy from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. NextEra Energy presently has an average rating of “Buy” and an average target price of $147.00.
In other news, CEO Armando Pimentel, Jr. sold 5,680 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $133.11, for a total transaction of $756,064.80. Following the completion of the transaction, the chief executive officer now directly owns 79,586 shares in the company, valued at $10,593,692.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eric E. Silagy sold 8,111 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $140.58, for a total value of $1,140,244.38. Following the transaction, the director now owns 26,884 shares of the company’s stock, valued at $3,779,352.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,111 shares of company stock valued at $9,036,943. 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.
Want to see what other hedge funds are holding NEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NextEra Energy, Inc. (NYSE:NEE).
Receive News & Ratings for NextEra Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextEra Energy Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.