Violich Capital Management Inc. Sells 1,000 Shares of NextEra Energy, Inc. $NEE

Violich Capital Management Inc. cut its holdings in NextEra Energy, Inc. (NYSE:NEE) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,097 shares of the utilities provider’s stock after selling 1,000 shares during the period. Violich Capital Management Inc.’s holdings in NextEra Energy were worth $3,686,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Activest Wealth Management grew its holdings in NextEra Energy by 79.7% during the second quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 157 shares during the period. Harbor Asset Planning Inc. bought a new position in NextEra Energy during the second quarter valued at $25,000. 1 North Wealth Services LLC bought a new position in NextEra Energy during the first quarter valued at $26,000. Nova Wealth Management Inc. bought a new position in NextEra Energy during the first quarter valued at $32,000. Finally, IMA Advisory Services Inc. bought a new position in NextEra Energy during the first quarter valued at $35,000. 78.72% of the stock is owned by institutional investors.

NextEra Energy Stock Performance

NextEra Energy stock opened at $84.48 on Friday. The stock’s 50 day simple moving average is $75.54 and its two-hundred day simple moving average is $72.24. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54. The stock has a market cap of $173.97 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 2.85 and a beta of 0.66. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.74.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same period in the previous year, the firm posted $0.96 EPS. The business’s revenue was up 10.4% on a year-over-year basis. As a group, analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 28th were issued a $0.5665 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.27 annualized dividend and a yield of 2.7%. NextEra Energy’s dividend payout ratio is currently 79.37%.

Insider Buying and Selling

In other NextEra Energy news, EVP Mark Lemasney sold 846 shares of the stock in a transaction dated Thursday, September 25th. The shares were 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 owned 9,267 shares of the company’s stock, valued at $694,098.30. This represents a 8.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Dunne sold 10,000 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $70.79, for a total transaction of $707,900.00. Following the sale, the executive vice president owned 62,064 shares in the company, valued at $4,393,510.56. This represents a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,705 shares of company stock worth $2,446,490 in the last three months. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on NEE shares. BMO Capital Markets increased their price objective on NextEra Energy from $77.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, July 21st. JPMorgan Chase & Co. increased their price objective on NextEra Energy from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, August 22nd. HSBC cut their price target on NextEra Energy from $88.00 to $86.00 and set a “buy” rating for the company in a report on Friday, July 11th. TD Cowen assumed coverage on NextEra Energy in a report on Thursday. They issued a “buy” rating and a $98.00 price target for the company. Finally, Melius Research raised NextEra Energy to a “strong-buy” rating in a report on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, NextEra Energy currently has an average rating of “Moderate Buy” and an average price target of $86.40.

NextEra Energy 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.