Paloma Partners Management Co cut its stake in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 94.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,693 shares of the utilities provider's stock after selling 30,442 shares during the period. Paloma Partners Management Co's holdings in NextEra Energy were worth $143,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Legal & General Group Plc lifted its holdings in shares of NextEra Energy by 0.7% in the second quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider's stock valued at $1,508,155,000 after purchasing an additional 143,748 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in NextEra Energy by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,284,785 shares of the utilities provider's stock worth $1,122,963,000 after acquiring an additional 86,758 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in NextEra Energy by 5.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,630,775 shares of the utilities provider's stock worth $729,559,000 after acquiring an additional 452,590 shares in the last quarter. Raymond James & Associates boosted its position in NextEra Energy by 14.3% during the 3rd quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider's stock worth $575,573,000 after acquiring an additional 851,873 shares during the period. Finally, Principal Financial Group Inc. grew its stake in NextEra Energy by 7.2% during the 2nd quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider's stock valued at $431,966,000 after acquiring an additional 409,708 shares in the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, EVP Nicole J. Daggs sold 4,007 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total value of $302,808.99. Following the sale, the executive vice president now owns 15,792 shares of the company's stock, valued at $1,193,401.44. The trade was a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company's stock.
Analyst Upgrades and Downgrades
NEE has been the subject of several research reports. Scotiabank raised their price target on shares of NextEra Energy from $73.00 to $92.00 and gave the stock a "sector outperform" rating in a report on Tuesday, August 20th. Jefferies Financial Group assumed coverage on shares of NextEra Energy in a report on Thursday, September 19th. They set a "hold" rating and a $87.00 price target on the stock. Barclays lifted their price objective on NextEra Energy from $80.00 to $82.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Bank of America upped their target price on NextEra Energy from $77.00 to $81.00 and gave the stock a "neutral" rating in a research report on Thursday, August 29th. Finally, Dbs Bank cut NextEra Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 27th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $86.85.
Read Our Latest Stock Analysis on NextEra Energy
NextEra Energy Stock Performance
NYSE:NEE traded down $0.96 during mid-day trading on Friday, hitting $75.24. 7,079,144 shares of the company's stock traded hands, compared to its average volume of 10,491,270. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11. The firm has a 50 day moving average of $79.50 and a two-hundred day moving average of $77.84. The firm has a market capitalization of $154.72 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 2.74 and a beta of 0.56. NextEra Energy, Inc. has a 12 month low of $53.95 and a 12 month high of $86.10.
NextEra Energy (NYSE:NEE - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.05. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The business had revenue of $7.57 billion for the quarter, compared to analyst estimates of $8.11 billion. During the same quarter in the previous year, the firm posted $0.94 earnings per share. NextEra Energy's revenue was up 5.5% compared to the same quarter last year. On average, equities analysts forecast that NextEra Energy, Inc. will post 3.41 earnings per share for the current fiscal year.
NextEra Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be issued a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 annualized dividend and a yield of 2.74%. NextEra Energy's dividend payout ratio (DPR) is 60.95%.
NextEra Energy Company Profile
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Free Report)
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.
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