QRG Capital Management Inc. Trims Stock Position in NextEra Energy, Inc. $NEE

QRG Capital Management Inc. decreased its position in NextEra Energy, Inc. (NYSE:NEE) by 12.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,508 shares of the utilities provider’s stock after selling 26,380 shares during the period. QRG Capital Management Inc.’s holdings in NextEra Energy were worth $13,551,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NEE. Synergy Asset Management LLC lifted its stake in NextEra Energy by 286.0% during the third quarter. Synergy Asset Management LLC now owns 22,028 shares of the utilities provider’s stock worth $1,594,000 after purchasing an additional 16,322 shares in the last quarter. Daymark Wealth Partners LLC lifted its stake in NextEra Energy by 6.5% during the 2nd quarter. Daymark Wealth Partners LLC now owns 45,015 shares of the utilities provider’s stock worth $3,125,000 after acquiring an additional 2,767 shares in the last quarter. Hunter Perkins Capital Management LLC purchased a new position in NextEra Energy during the 3rd quarter valued at about $3,966,000. Dillon & Associates Inc. increased its stake in NextEra Energy by 8.4% during the second quarter. Dillon & Associates Inc. now owns 68,246 shares of the utilities provider’s stock worth $4,709,000 after purchasing an additional 5,261 shares during the period. Finally, Soltis Investment Advisors LLC increased its stake in NextEra Energy by 171.1% during the second quarter. Soltis Investment Advisors LLC now owns 12,114 shares of the utilities provider’s stock worth $841,000 after purchasing an additional 7,645 shares during the period. Institutional investors and hedge funds own 78.72% of the company’s stock.

Insider Buying and Selling

In other NextEra Energy news, CEO Armando Pimentel, Jr. sold 145,140 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $83.91, for a total value of $12,178,697.40. Following the completion of the sale, the chief executive officer owned 162,693 shares of the company’s stock, valued at approximately $13,651,569.63. This trade represents a 47.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

NextEra Energy Stock Performance

NYSE:NEE opened at $83.65 on Friday. The firm has a market cap of $174.21 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 2.55 and a beta of 0.74. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.55 and a quick ratio of 0.45. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $87.53. The firm’s fifty day moving average price is $82.32 and its 200 day moving average price is $78.20.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.97 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 21st were given a $0.5665 dividend. The ex-dividend date was Friday, November 21st. This represents a $2.27 annualized dividend and a yield of 2.7%. NextEra Energy’s dividend payout ratio is presently 71.97%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Citigroup reissued a “buy” rating and issued a $96.00 price objective (up previously from $84.00) on shares of NextEra Energy in a research note on Wednesday, October 29th. Wolfe Research raised their price target on shares of NextEra Energy from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, December 1st. BTIG Research reaffirmed a “buy” rating and set a $100.00 price objective on shares of NextEra Energy in a research report on Tuesday, December 9th. UBS Group set a $91.00 price objective on NextEra Energy and gave the company a “buy” rating in a research note on Wednesday, December 17th. Finally, Jefferies Financial Group set a $87.00 target price on NextEra Energy in a research note on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.50.

NextEra Energy Company Profile

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.