Shulman DeMeo Asset Management LLC grew its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 370.8% in the 4th quarter, Holdings Channel reports. The fund owned 10,297 shares of the utilities provider’s stock after buying an additional 8,110 shares during the period. Shulman DeMeo Asset Management LLC’s holdings in NextEra Energy were worth $794,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Arlington Partners LLC raised its stake in NextEra Energy by 97.0% during the fourth quarter. Arlington Partners LLC now owns 329 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 162 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of NextEra Energy in the third quarter valued at approximately $27,000. Demars Financial Group LLC acquired a new position in shares of NextEra Energy in the second quarter valued at approximately $30,000. Baron Financial Group LLC acquired a new position in shares of NextEra Energy in the third quarter valued at approximately $41,000. Finally, Professional Financial Advisors LLC acquired a new position in shares of NextEra Energy in the third quarter valued at approximately $45,000. 17.93% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO John W. Ketchum sold 4,000 shares of the stock in a transaction on Tuesday, December 22nd. The stock was sold at an average price of $74.44, for a total value of $297,760.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James L. Robo sold 165,860 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $74.12, for a total value of $12,293,543.20. The disclosure for this sale can be found here. Insiders have sold a total of 336,188 shares of company stock worth $24,990,497 over the last 90 days. Company insiders own 0.40% of the company’s stock.
NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, October 21st. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). The business had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $5.31 billion. NextEra Energy had a return on equity of 10.79% and a net margin of 21.44%. NextEra Energy’s quarterly revenue was down 14.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share. On average, analysts expect that NextEra Energy, Inc. will post 2.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 15th. Shareholders of record on Friday, November 27th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 6.87%. The ex-dividend date of this dividend was Wednesday, November 25th. NextEra Energy’s payout ratio is 66.99%.
NEE has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price objective on NextEra Energy from $72.25 to $74.25 and gave the company an “overweight” rating in a research note on Tuesday, September 22nd. BMO Capital Markets upped their price objective on NextEra Energy from $71.50 to $73.25 in a research note on Tuesday, September 15th. Mizuho upped their price objective on NextEra Energy from $64.00 to $90.00 and gave the company a “buy” rating in a research note on Monday. Seaport Global Securities initiated coverage on shares of NextEra Energy in a research report on Tuesday, September 22nd. They set a “buy” rating and a $57.25 target price for the company. Finally, ValuEngine downgraded shares of NextEra Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, December 1st. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $73.08.
NextEra Energy Profile
NextEra Energy, Inc, through its subsidiaries, generates, transmits, and distributes electric power in North America. The company generates electricity through wind, solar, nuclear, coal, oil, and natural gas facilities. It also develops, constructs, and operates long-term contracted assets with a focus on renewable generation facilities, natural gas pipelines, and battery storage projects; and owns, develops, constructs, manages, and operates electric generation facilities in wholesale energy markets.
Further Reading: Outstanding Shares and The Effect on Share Price
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