Apollon Wealth Management LLC Decreases Position in NextEra Energy, Inc. (NYSE:NEE)

Apollon Wealth Management LLC lowered its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,834 shares of the utilities provider’s stock after selling 490 shares during the period. Apollon Wealth Management LLC’s holdings in NextEra Energy were worth $6,007,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NEE. Norges Bank bought a new position in NextEra Energy in the 4th quarter worth approximately $2,561,055,000. M&G Plc bought a new position in NextEra Energy in the 1st quarter worth approximately $303,065,000. Zimmer Partners LP boosted its holdings in NextEra Energy by 8,447.5% in the 1st quarter. Zimmer Partners LP now owns 2,735,200 shares of the utilities provider’s stock worth $174,807,000 after buying an additional 2,703,200 shares during the period. State of Michigan Retirement System boosted its holdings in NextEra Energy by 400.7% in the 1st quarter. State of Michigan Retirement System now owns 2,812,198 shares of the utilities provider’s stock worth $179,728,000 after buying an additional 2,250,500 shares during the period. Finally, Raymond James & Associates boosted its holdings in NextEra Energy by 57.0% in the 2nd quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock worth $421,831,000 after buying an additional 2,163,437 shares during the period. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Evercore ISI raised their price objective on shares of NextEra Energy from $70.00 to $75.00 and gave the stock an “in-line” rating in a report on Wednesday, June 12th. Scotiabank raised their price target on shares of NextEra Energy from $69.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday, April 22nd. Mizuho downgraded shares of NextEra Energy from a “buy” rating to a “neutral” rating and set a $71.00 price target for the company. in a report on Wednesday, June 12th. Bank of America raised their price target on shares of NextEra Energy from $61.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. Finally, Barclays raised their price target on shares of NextEra Energy from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.36.

Insider Activity at NextEra Energy

In related news, EVP Nicole J. Daggs sold 658 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $76.97, for a total transaction of $50,646.26. Following the sale, the executive vice president now owns 100 shares of the company’s stock, valued at $7,697. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

NextEra Energy Trading Up 1.0 %

NYSE:NEE traded up $0.78 during trading hours on Monday, reaching $79.35. The company’s stock had a trading volume of 5,615,645 shares, compared to its average volume of 11,363,777. The firm has a 50-day simple moving average of $73.99 and a 200-day simple moving average of $68.06. NextEra Energy, Inc. has a 1 year low of $47.15 and a 1 year high of $80.56. The firm has a market capitalization of $163.03 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.84 and a beta of 0.54. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.41 and a current ratio of 0.49.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The company had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the previous year, the company earned $0.88 earnings per share. Research analysts expect that NextEra Energy, Inc. will post 3.39 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Friday, August 30th. NextEra Energy’s dividend payout ratio is currently 56.13%.

About NextEra Energy

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.