Brookstone Capital Management cut its holdings in NextEra Energy, Inc. (NYSE:NEE – Get Rating) by 6.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,727 shares of the utilities provider’s stock after selling 1,957 shares during the quarter. Brookstone Capital Management’s holdings in NextEra Energy were worth $2,145,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Contravisory Investment Management Inc. grew its stake in shares of NextEra Energy by 295.5% during the first quarter. Contravisory Investment Management Inc. now owns 348 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 260 shares during the period. Evolution Advisers Inc. bought a new position in NextEra Energy during the first quarter worth about $33,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in shares of NextEra Energy during the 4th quarter worth about $34,000. PYA Waltman Capital LLC bought a new stake in shares of NextEra Energy in the 1st quarter valued at about $36,000. Finally, Guardian Wealth Management Inc. acquired a new stake in shares of NextEra Energy in the 4th quarter valued at approximately $43,000. Institutional investors own 76.89% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on NEE. Seaport Res Ptn cut shares of NextEra Energy from a “buy” rating to a “neutral” rating in a report on Tuesday, July 26th. Credit Suisse Group boosted their price target on shares of NextEra Energy from $79.00 to $98.00 in a report on Wednesday, September 14th. BMO Capital Markets raised their price objective on NextEra Energy from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, September 16th. Wells Fargo & Company boosted their target price on NextEra Energy from $107.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, August 9th. Finally, Morgan Stanley upgraded NextEra Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $94.00 to $99.00 in a report on Tuesday, September 6th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.40.
NextEra Energy Stock Performance
NextEra Energy (NYSE:NEE – Get Rating) last announced its earnings results on Friday, July 22nd. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. NextEra Energy had a return on equity of 11.97% and a net margin of 14.75%. The business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter last year, the firm earned $0.71 EPS. NextEra Energy’s revenue for the quarter was up 32.0% compared to the same quarter last year. Equities analysts expect that NextEra Energy, Inc. will post 2.89 EPS for the current fiscal year.
NextEra Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 30th were issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Monday, August 29th. NextEra Energy’s payout ratio is 129.77%.
Insider Activity at NextEra Energy
In other NextEra Energy news, EVP Ronald R. Reagan sold 9,307 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $88.79, for a total transaction of $826,368.53. Following the sale, the executive vice president now directly owns 18,176 shares of the company’s stock, valued at approximately $1,613,847.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other NextEra Energy news, EVP Ronald R. Reagan sold 9,307 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $88.79, for a total value of $826,368.53. Following the completion of the transaction, the executive vice president now directly owns 18,176 shares in the company, valued at $1,613,847.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John W. Ketchum acquired 12,909 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were bought at an average price of $78.33 per share, for a total transaction of $1,011,161.97. Following the purchase, the chief executive officer now owns 132,894 shares in the company, valued at $10,409,587.02. The disclosure for this purchase can be found here. 0.43% of the stock is owned by insiders.
NextEra Energy Company Profile
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, coal, and natural gas facilities. 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.
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