Tandem Investment Advisors Inc. cut its position in NextEra Energy Inc (NYSE:NEE) by 19.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,884 shares of the utilities provider’s stock after selling 8,066 shares during the quarter. NextEra Energy makes up 1.8% of Tandem Investment Advisors Inc.’s investment portfolio, making the stock its 29th biggest holding. Tandem Investment Advisors Inc.’s holdings in NextEra Energy were worth $4,819,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in NEE. Day & Ennis LLC raised its stake in shares of NextEra Energy by 0.6% during the 1st quarter. Day & Ennis LLC now owns 2,174 shares of the utilities provider’s stock worth $279,000 after buying an additional 14 shares in the last quarter. Farmers & Merchants Investments Inc. grew its holdings in NextEra Energy by 0.3% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 4,745 shares of the utilities provider’s stock valued at $665,000 after buying an additional 15 shares during the last quarter. Whalerock Point Partners LLC grew its holdings in NextEra Energy by 0.3% during the 2nd quarter. Whalerock Point Partners LLC now owns 5,598 shares of the utilities provider’s stock valued at $784,000 after buying an additional 15 shares during the last quarter. First Interstate Bank boosted its holdings in shares of NextEra Energy by 1.3% during the second quarter. First Interstate Bank now owns 1,259 shares of the utilities provider’s stock worth $176,000 after purchasing an additional 16 shares during the last quarter. Finally, Sfmg LLC raised its position in NextEra Energy by 0.7% in the second quarter. Sfmg LLC now owns 2,679 shares of the utilities provider’s stock valued at $375,000 after purchasing an additional 19 shares during the period. 75.63% of the stock is owned by hedge funds and other institutional investors.
NextEra Energy Inc (NEE) traded up $2.14 during trading hours on Wednesday, hitting $157.78. 1,983,880 shares of the stock were exchanged, compared to its average volume of 1,684,581. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.49 and a current ratio of 0.61. NextEra Energy Inc has a 12 month low of $114.80 and a 12 month high of $159.28. The company has a market cap of $73,367.91, a price-to-earnings ratio of 23.38, a P/E/G ratio of 3.11 and a beta of 0.31.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be issued a $0.9825 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $3.93 annualized dividend and a dividend yield of 2.49%. NextEra Energy’s dividend payout ratio is currently 44.16%.
In other news, EVP Charles E. Sieving sold 30,485 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $146.56, for a total value of $4,467,881.60. Following the completion of the transaction, the executive vice president now directly owns 78,167 shares in the company, valued at $11,456,155.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John W. Ketchum sold 2,900 shares of NextEra Energy stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $150.00, for a total transaction of $435,000.00. Following the transaction, the executive vice president now directly owns 18,786 shares in the company, valued at $2,817,900. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,385 shares of company stock valued at $9,748,482. 0.53% of the stock is currently owned by corporate insiders.
A number of research firms recently commented on NEE. KeyCorp reiterated a “buy” rating and issued a $155.00 price target on shares of NextEra Energy in a research note on Friday, September 1st. Morgan Stanley lifted their target price on NextEra Energy from $167.00 to $169.00 and gave the company an “overweight” rating in a research note on Friday, September 8th. Zacks Investment Research cut NextEra Energy from a “buy” rating to a “hold” rating in a report on Friday, October 13th. Argus reaffirmed a “buy” rating and set a $173.00 price objective on shares of NextEra Energy in a research report on Tuesday. They noted that the move was a valuation call. Finally, J P Morgan Chase & Co assumed coverage on shares of NextEra Energy in a research report on Thursday, September 7th. They set an “overweight” rating and a $173.00 price objective for the company. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. NextEra Energy has a consensus rating of “Buy” and an average price target of $156.64.
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NextEra Energy Company Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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