Meritage Portfolio Management lowered its stake in NextEra Energy Inc (NYSE:NEE) by 15.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,055 shares of the utilities provider’s stock after selling 186 shares during the quarter. Meritage Portfolio Management’s holdings in NextEra Energy were worth $204,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. First Manhattan Co. raised its position in shares of NextEra Energy by 2.1% during the 1st quarter. First Manhattan Co. now owns 4,510 shares of the utilities provider’s stock valued at $872,000 after purchasing an additional 93 shares during the period. Sowell Financial Services LLC increased its holdings in NextEra Energy by 7.3% in the 4th quarter. Sowell Financial Services LLC now owns 2,635 shares of the utilities provider’s stock valued at $458,000 after acquiring an additional 180 shares during the last quarter. Covington Capital Management increased its holdings in NextEra Energy by 1.8% in the 4th quarter. Covington Capital Management now owns 85,166 shares of the utilities provider’s stock valued at $14,804,000 after acquiring an additional 1,483 shares during the last quarter. Kaizen Advisory LLC increased its holdings in NextEra Energy by 22.5% in the 4th quarter. Kaizen Advisory LLC now owns 1,296 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 238 shares during the last quarter. Finally, Hexavest Inc. bought a new stake in NextEra Energy in the 4th quarter valued at $68,255,000. Institutional investors own 77.00% of the company’s stock.
NEE has been the topic of a number of research reports. Barclays upgraded shares of NextEra Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $187.00 to $207.00 in a report on Wednesday, March 20th. They noted that the move was a valuation call. Scotiabank upgraded shares of NextEra Energy from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $187.00 to $202.00 in a report on Wednesday, May 8th. Zacks Investment Research upgraded shares of NextEra Energy from a “hold” rating to a “buy” rating and set a $193.00 target price on the stock in a report on Wednesday, January 30th. Morgan Stanley boosted their target price on shares of NextEra Energy from $184.00 to $188.00 and gave the stock an “overweight” rating in a report on Tuesday, February 12th. Finally, Wells Fargo & Co boosted their target price on shares of NextEra Energy from $200.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $196.83.
Shares of NEE stock traded up $3.03 during trading hours on Wednesday, reaching $201.93. 1,546,539 shares of the stock were exchanged, compared to its average volume of 2,047,115. NextEra Energy Inc has a 12-month low of $155.06 and a 12-month high of $202.35. The company has a current ratio of 0.46, a quick ratio of 0.38 and a debt-to-equity ratio of 0.79. The stock has a market cap of $95.48 billion, a PE ratio of 26.22, a P/E/G ratio of 3.02 and a beta of 0.28.
NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.19. NextEra Energy had a net margin of 17.13% and a return on equity of 10.26%. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same period in the previous year, the company earned $1.94 EPS. Sell-side analysts forecast that NextEra Energy Inc will post 8.41 EPS for the current year.
In other NextEra Energy news, Director James L. Robo sold 111,864 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $191.27, for a total value of $21,396,227.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Miguel Arechabala sold 5,448 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $188.61, for a total transaction of $1,027,547.28. Following the completion of the sale, the executive vice president now directly owns 6,348 shares of the company’s stock, valued at $1,197,296.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 240,594 shares of company stock valued at $46,236,648. 0.48% of the stock is owned by corporate insiders.
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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.
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