Sompo Asset Management Co. Ltd. Lowers Holdings in NextEra Energy, Inc. (NYSE:NEE)

Sompo Asset Management Co. Ltd. reduced its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 11.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,891 shares of the utilities provider’s stock after selling 6,965 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in NextEra Energy were worth $3,745,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NEE. BCK Partners Inc. boosted its holdings in shares of NextEra Energy by 3.8% during the second quarter. BCK Partners Inc. now owns 3,687 shares of the utilities provider’s stock valued at $261,000 after acquiring an additional 135 shares during the period. Renasant Bank raised its holdings in shares of NextEra Energy by 1.0% during the first quarter. Renasant Bank now owns 14,614 shares of the utilities provider’s stock valued at $934,000 after buying an additional 142 shares during the last quarter. Stonebridge Capital Advisors LLC boosted its position in shares of NextEra Energy by 1.8% during the first quarter. Stonebridge Capital Advisors LLC now owns 8,029 shares of the utilities provider’s stock worth $513,000 after buying an additional 143 shares during the period. Proffitt & Goodson Inc. increased its position in NextEra Energy by 64.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 144 shares during the period. Finally, NorthCrest Asset Manangement LLC increased its position in NextEra Energy by 1.0% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 15,194 shares of the utilities provider’s stock valued at $1,076,000 after acquiring an additional 146 shares during the period. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Bank of America raised their price target on NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. BMO Capital Markets raised their target price on shares of NextEra Energy from $79.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Wells Fargo & Company upped their price target on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Scotiabank raised their price objective on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, Mizuho lowered NextEra Energy from a “buy” rating to a “neutral” rating and set a $71.00 price target for the company. in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, NextEra Energy presently has an average rating of “Moderate Buy” and an average target price of $81.87.

Insiders Place Their Bets

In other news, EVP Nicole J. Daggs sold 658 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $76.97, for a total value of $50,646.26. Following the transaction, the executive vice president now owns 100 shares in the company, valued at approximately $7,697. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

NextEra Energy Stock Performance

Shares of NEE opened at $82.76 on Friday. The company has a 50-day moving average of $78.33 and a two-hundred day moving average of $72.22. The stock has a market cap of $170.03 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 3.03 and a beta of 0.56. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.49 and a quick ratio of 0.41. NextEra Energy, Inc. has a one year low of $47.15 and a one year high of $85.56.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $6.07 billion during the quarter, compared to analyst estimates of $7.29 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. During the same quarter last year, the business posted $0.88 EPS. On average, equities research analysts expect that NextEra Energy, Inc. will post 3.39 earnings per share for the current year.

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.515 per share. The ex-dividend date was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 2.49%. NextEra Energy’s payout ratio is presently 56.13%.

NextEra Energy Company 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.