First Merchants Corp decreased its stake in NextEra Energy Inc. (NYSE:NEE) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 8,419 shares of the company’s stock after selling 120 shares during the period. First Merchants Corp’s holdings in NextEra Energy were worth $1,098,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Cornerstone Advisors Inc. boosted its stake in shares of NextEra Energy by 0.4% in the second quarter. Cornerstone Advisors Inc. now owns 1,627 shares of the company’s stock valued at $212,000 after buying an additional 7 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of NextEra Energy by 0.7% in the first quarter. MCF Advisors LLC now owns 1,817 shares of the company’s stock valued at $215,000 after buying an additional 12 shares in the last quarter. Cohen Lawrence B boosted its stake in shares of NextEra Energy by 0.8% in the second quarter. Cohen Lawrence B now owns 3,002 shares of the company’s stock valued at $391,000 after buying an additional 25 shares in the last quarter. Dodge & Cox boosted its stake in shares of NextEra Energy by 0.3% in the first quarter. Dodge & Cox now owns 11,030 shares of the company’s stock valued at $1,305,000 after buying an additional 30 shares in the last quarter. Finally, Advisor Partners LLC boosted its stake in shares of NextEra Energy by 0.4% in the first quarter. Advisor Partners LLC now owns 10,588 shares of the company’s stock valued at $1,253,000 after buying an additional 42 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.
NextEra Energy Inc. (NYSE:NEE) traded down 1.00% during trading on Friday, reaching $126.75. 2,452,134 shares of the company were exchanged. The firm’s 50 day moving average is $124.45 and its 200 day moving average is $122.27. NextEra Energy Inc. has a 52-week low of $95.84 and a 52-week high of $131.98. The stock has a market capitalization of $58.55 billion, a PE ratio of 22.68 and a beta of 0.33.
NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.57 by $0.10. The firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $4.33 billion. NextEra Energy had a return on equity of 11.82% and a net margin of 15.36%. NextEra Energy’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.56 EPS. Analysts expect that NextEra Energy Inc. will post $6.20 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 30th were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.75%. The ex-dividend date was Friday, August 26th. NextEra Energy’s dividend payout ratio (DPR) is presently 62.59%.
Several analysts have recently issued reports on the stock. Mizuho increased their price target on shares of NextEra Energy from $125.00 to $138.00 and gave the stock a “buy” rating in a research report on Monday, July 18th. Zacks Investment Research cut shares of NextEra Energy from a “hold” rating to a “sell” rating in a report on Friday, July 22nd. BMO Capital Markets reaffirmed a “buy” rating and issued a $135.00 target price on shares of NextEra Energy in a report on Thursday, July 28th. Morgan Stanley started coverage on shares of NextEra Energy in a report on Wednesday, June 29th. They issued a “hold” rating and a $146.00 target price on the stock. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $123.00 target price on shares of NextEra Energy in a report on Wednesday, June 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of C$128.94.
In other NextEra Energy news, Treasurer Paul I. Cutler sold 4,796 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of C$130.00, for a total value of C$623,480.00. Following the transaction, the treasurer now directly owns 69,977 shares of the company’s stock, valued at approximately C$9,097,010. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Chris N. Froggatt sold 16,467 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of C$127.61, for a total value of C$2,101,353.87. Following the completion of the transaction, the vice president now directly owns 22,916 shares in the company, valued at C$2,924,310.76. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
NextEra Energy Company Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power company in North America with electric generating facilities located in over 30 states in the United States and approximately five provinces in Canada. NEE’s operating segments are FPL, an electric utility, and NEER, an energy business.
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