NextEra Energy, Inc. (NYSE:NEE) Stake Cut by Platform Technology Partners

Platform Technology Partners reduced its holdings in NextEra Energy, Inc. (NYSE:NEE) by 6.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,753 shares of the utilities provider’s stock after selling 391 shares during the period. Platform Technology Partners’ holdings in NextEra Energy were worth $415,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sageworth Trust Co increased its position in NextEra Energy by 1,794.1% in the 1st quarter. Sageworth Trust Co now owns 322 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 305 shares during the last quarter. Your Advocates Ltd. LLP acquired a new position in NextEra Energy in the 1st quarter worth about $31,000. Magellan Asset Management Ltd acquired a new position in NextEra Energy in the 1st quarter worth about $32,000. Ahrens Investment Partners LLC acquired a new position in NextEra Energy in the 1st quarter worth about $35,000. Finally, Portland Hill Asset Management Ltd acquired a new position in NextEra Energy in the 4th quarter worth about $39,000. 76.48% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Stock Performance

Shares of NEE stock traded down $0.17 during mid-day trading on Monday, reaching $68.47. The stock had a trading volume of 2,765,595 shares, compared to its average volume of 8,187,381. The firm’s 50 day simple moving average is $69.78 and its 200 day simple moving average is $73.42. The company has a quick ratio of 0.45, a current ratio of 0.53 and a debt-to-equity ratio of 1.14. NextEra Energy, Inc. has a one year low of $65.36 and a one year high of $88.61. The firm has a market cap of $138.56 billion, a PE ratio of 16.99, a P/E/G ratio of 2.66 and a beta of 0.47.

NextEra Energy (NYSE:NEE) last posted its earnings results on Tuesday, July 25th. The utilities provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.81 by $0.07. The business had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $6.68 billion. NextEra Energy had a return on equity of 12.25% and a net margin of 30.05%. During the same quarter last year, the company earned $0.81 EPS. On average, analysts forecast that NextEra Energy, Inc. will post 3.12 EPS for the current year.

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Wednesday, August 30th were given a $0.4675 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $1.87 annualized dividend and a yield of 2.73%. NextEra Energy’s payout ratio is 46.29%.

Insider Buying and Selling at NextEra Energy

In other news, Director Kirk S. Hachigian bought 10,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $67.95 per share, with a total value of $679,500.00. Following the purchase, the director now owns 15,000 shares of the company’s stock, valued at $1,019,250. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Kirk S. Hachigian bought 10,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $67.95 per share, with a total value of $679,500.00. Following the purchase, the director now owns 15,000 shares of the company’s stock, valued at $1,019,250. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James Lawrence Camaren acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average cost of $67.85 per share, with a total value of $271,400.00. Following the completion of the purchase, the director now owns 8,000 shares of the company’s stock, valued at $542,800. The disclosure for this purchase can be found here. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NEE. StockNews.com began coverage on NextEra Energy in a report on Thursday, August 17th. They set a “hold” rating on the stock. Morgan Stanley lowered their price objective on NextEra Energy from $93.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, August 23rd. JPMorgan Chase & Co. lowered their price objective on NextEra Energy from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, August 30th. Guggenheim lowered their price objective on NextEra Energy from $92.00 to $86.00 in a report on Friday, July 7th. Finally, The Goldman Sachs Group started coverage on NextEra Energy in a report on Wednesday, June 7th. They set a “buy” rating and a $90.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.90.

NextEra Energy 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.