LGT Fund Management Co Ltd. Cuts Stock Holdings in NextEra Energy, Inc. (NYSE:NEE)

LGT Fund Management Co Ltd. trimmed its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 20.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,678 shares of the utilities provider’s stock after selling 8,425 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in NextEra Energy were worth $2,387,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in NextEra Energy by 7.0% in the 4th quarter. Brighton Jones LLC now owns 28,282 shares of the utilities provider’s stock valued at $2,028,000 after acquiring an additional 1,840 shares during the period. Revolve Wealth Partners LLC grew its stake in NextEra Energy by 6.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,854 shares of the utilities provider’s stock valued at $348,000 after acquiring an additional 298 shares during the period. Townsquare Capital LLC grew its stake in NextEra Energy by 5.4% in the 4th quarter. Townsquare Capital LLC now owns 49,185 shares of the utilities provider’s stock valued at $3,526,000 after acquiring an additional 2,539 shares during the period. Bragg Financial Advisors Inc grew its stake in NextEra Energy by 15.0% in the 4th quarter. Bragg Financial Advisors Inc now owns 80,489 shares of the utilities provider’s stock valued at $5,770,000 after acquiring an additional 10,519 shares during the period. Finally, Savvy Advisors Inc. grew its stake in NextEra Energy by 23.7% in the 4th quarter. Savvy Advisors Inc. now owns 12,010 shares of the utilities provider’s stock valued at $861,000 after acquiring an additional 2,302 shares during the period. 78.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, EVP Robert Coffey sold 7,500 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $71.84, for a total value of $538,800.00. Following the completion of the transaction, the executive vice president owned 26,539 shares in the company, valued at approximately $1,906,561.76. This represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Treasurer James Michael May sold 2,177 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total value of $168,717.50. Following the completion of the transaction, the treasurer owned 27,662 shares of the company’s stock, valued at approximately $2,143,805. This represents a 7.30% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. HSBC lowered their target price on shares of NextEra Energy from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Friday, July 11th. UBS Group lowered their price target on shares of NextEra Energy from $94.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, May 23rd. BMO Capital Markets boosted their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Erste Group Bank cut shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, Morgan Stanley lowered their price target on shares of NextEra Energy from $95.00 to $94.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 18th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.42.

NextEra Energy Price Performance

NEE stock opened at $72.50 on Tuesday. The company has a market capitalization of $149.31 billion, a P/E ratio of 25.35, a PEG ratio of 2.49 and a beta of 0.63. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month high of $86.10. The business has a 50 day simple moving average of $72.61 and a 200-day simple moving average of $70.57. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts anticipate 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 will be paid on Monday, September 15th. Shareholders of record on Thursday, August 28th will be given a $0.5665 dividend. The ex-dividend date is Thursday, August 28th. This represents a $2.27 annualized dividend and a yield of 3.1%. NextEra Energy’s dividend payout ratio is presently 79.37%.

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.