Grandfield & Dodd LLC Sells 2,876 Shares of NextEra Energy, Inc. $NEE

Grandfield & Dodd LLC decreased its position in NextEra Energy, Inc. (NYSE:NEE) by 31.4% during the 2nd quarter, Holdings Channel reports. The firm owned 6,270 shares of the utilities provider’s stock after selling 2,876 shares during the period. Grandfield & Dodd LLC’s holdings in NextEra Energy were worth $435,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NEE. Vanguard Group Inc. grew its holdings in NextEra Energy by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 207,322,418 shares of the utilities provider’s stock worth $14,697,086,000 after acquiring an additional 2,025,193 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of NextEra Energy by 1.2% during the second quarter. Geode Capital Management LLC now owns 45,724,229 shares of the utilities provider’s stock worth $3,161,774,000 after purchasing an additional 526,996 shares during the period. Northern Trust Corp grew its stake in shares of NextEra Energy by 1.1% in the first quarter. Northern Trust Corp now owns 23,353,245 shares of the utilities provider’s stock worth $1,655,512,000 after purchasing an additional 262,819 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in NextEra Energy by 6.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 21,269,146 shares of the utilities provider’s stock valued at $1,507,770,000 after purchasing an additional 1,336,259 shares during the period. Finally, GQG Partners LLC raised its position in NextEra Energy by 58.4% during the 1st quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider’s stock valued at $1,221,896,000 after purchasing an additional 6,352,798 shares during the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NEE. New Street Research set a $84.00 price objective on shares of NextEra Energy in a research report on Monday, October 13th. Melius initiated coverage on shares of NextEra Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $77.00 price target for the company. Argus set a $90.00 price target on shares of NextEra Energy in a report on Wednesday, October 29th. Cowen started coverage on shares of NextEra Energy in a report on Wednesday, October 15th. They issued a “buy” rating for the company. Finally, TD Cowen initiated coverage on NextEra Energy in a research note on Thursday, October 16th. They set a “buy” rating and a $98.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.22.

NextEra Energy Stock Down 2.2%

NEE stock opened at $83.99 on Friday. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $87.53. The company has a market cap of $174.92 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 2.76 and a beta of 0.69. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.45 and a current ratio of 0.55. The business’s 50-day moving average is $79.24 and its two-hundred day moving average is $74.47.

NextEra Energy (NYSE:NEE) last released its earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. NextEra Energy had a net margin of 24.72% and a return on equity of 12.42%. The company had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter in the previous year, the company earned $1.03 EPS. NextEra Energy’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 21st will be issued a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, November 21st. NextEra Energy’s payout ratio is 71.97%.

Insider Buying and Selling

In related news, EVP Charles E. Sieving sold 11,336 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total transaction of $906,880.00. Following the sale, the executive vice president owned 167,481 shares of the company’s stock, valued at $13,398,480. This represents a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark Lemasney sold 846 shares of NextEra Energy stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the transaction, the executive vice president directly owned 9,267 shares of the company’s stock, valued at $694,098.30. The trade was a 8.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 23,028 shares of company stock worth $1,738,973. Corporate insiders own 0.18% of the company’s stock.

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,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.