Summit Global Investments Has $300,000 Stock Position in NextEra Energy, Inc. $NEE

Summit Global Investments lessened its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 67.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,316 shares of the utilities provider’s stock after selling 9,117 shares during the quarter. Summit Global Investments’ holdings in NextEra Energy were worth $300,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NEE. Activest Wealth Management increased its holdings in NextEra Energy by 79.7% in the 2nd quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 157 shares in the last quarter. Harbor Asset Planning Inc. bought a new stake in shares of NextEra Energy during the second quarter worth about $25,000. 1 North Wealth Services LLC bought a new stake in shares of NextEra Energy during the first quarter worth about $26,000. Quaker Wealth Management LLC increased its stake in shares of NextEra Energy by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 386 shares of the utilities provider’s stock valued at $27,000 after buying an additional 772 shares during the period. Finally, Nova Wealth Management Inc. bought a new position in NextEra Energy in the 1st quarter valued at approximately $32,000. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Trading Up 0.9%

NEE opened at $85.58 on Thursday. The company has a fifty day moving average price of $81.73 and a two-hundred day moving average price of $75.61. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $87.53. The company has a market cap of $178.22 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 2.76 and a beta of 0.69. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.30.

NextEra Energy (NYSE:NEE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.04 by $0.09. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.The company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same period last year, the business posted $1.03 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts predict 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 will be paid on Monday, December 15th. Shareholders of record on Friday, November 21st will be issued a dividend of $0.5665 per share. The ex-dividend date is Friday, November 21st. This represents a $2.27 annualized dividend and a yield of 2.6%. NextEra Energy’s dividend payout ratio is presently 71.97%.

Insider Buying and Selling at NextEra Energy

In related news, CEO Armando Pimentel, Jr. sold 145,140 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $83.91, for a total value of $12,178,697.40. Following the sale, the chief executive officer owned 162,693 shares in the company, valued at $13,651,569.63. This represents a 47.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Dunne sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $70.79, for a total value of $707,900.00. Following the sale, the executive vice president directly owned 62,064 shares of the company’s stock, valued at $4,393,510.56. This represents a 13.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 168,168 shares of company stock valued at $13,917,670 over the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on NEE. Mizuho raised their target price on NextEra Energy from $78.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, October 27th. Cowen started coverage on NextEra Energy in a research note on Wednesday, October 15th. They issued a “buy” rating on the stock. Evercore ISI reissued an “outperform” rating and set a $93.00 target price on shares of NextEra Energy in a research report on Tuesday, October 28th. Jefferies Financial Group restated a “hold” rating and issued a $85.00 price target (up previously from $77.00) on shares of NextEra Energy in a research report on Tuesday, October 14th. Finally, Wells Fargo & Company raised shares of NextEra Energy to a “strong-buy” rating in a research note on Tuesday, October 28th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, NextEra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $90.63.

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.