State Treasurer State of Michigan Decreases Position in NextEra Energy Inc (NYSE:NEE)

State Treasurer State of Michigan cut its stake in shares of NextEra Energy Inc (NYSE:NEE) by 16.8% during the second quarter, HoldingsChannel reports. The firm owned 114,673 shares of the utilities provider’s stock after selling 23,100 shares during the quarter. State Treasurer State of Michigan’s holdings in NextEra Energy were worth $23,492,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Manchester Financial Inc. purchased a new stake in NextEra Energy during the second quarter valued at approximately $26,000. Mackey Komara & Dankovich LLC grew its stake in shares of NextEra Energy by 446.4% during the second quarter. Mackey Komara & Dankovich LLC now owns 765 shares of the utilities provider’s stock valued at $29,000 after buying an additional 625 shares during the last quarter. Ellis Investment Partners LLC bought a new position in shares of NextEra Energy during the first quarter valued at approximately $32,000. Legacy Advisors LLC grew its stake in shares of NextEra Energy by 1,000.0% during the second quarter. Legacy Advisors LLC now owns 165 shares of the utilities provider’s stock valued at $34,000 after buying an additional 150 shares during the last quarter. Finally, Massey Quick Simon & CO. LLC bought a new position in shares of NextEra Energy during the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 75.86% of the company’s stock.

In related news, EVP Deborah H. Caplan sold 2,976 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $194.44, for a total value of $578,653.44. Following the transaction, the executive vice president now owns 24,477 shares of the company’s stock, valued at $4,759,307.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John W. Ketchum sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $204.50, for a total value of $3,067,500.00. Following the completion of the transaction, the chief executive officer now directly owns 21,137 shares in the company, valued at approximately $4,322,516.50. The disclosure for this sale can be found here. In the last three months, insiders sold 101,300 shares of company stock worth $20,217,711. 0.48% of the stock is owned by insiders.

A number of research analysts have recently commented on NEE shares. Scotiabank raised NextEra Energy from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $187.00 to $202.00 in a research note on Wednesday, May 8th. Credit Suisse Group upped their target price on NextEra Energy from $231.00 to $232.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays reaffirmed a “buy” rating and set a $218.00 target price on shares of NextEra Energy in a research note on Wednesday, June 19th. UBS Group upped their target price on NextEra Energy from $225.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Finally, Wells Fargo & Co upped their target price on NextEra Energy from $200.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. NextEra Energy presently has an average rating of “Buy” and a consensus price target of $210.50.

NYSE:NEE traded up $3.09 during midday trading on Tuesday, hitting $211.14. The stock had a trading volume of 1,134,448 shares, compared to its average volume of 1,554,215. NextEra Energy Inc has a one year low of $164.25 and a one year high of $213.23. The stock has a market capitalization of $101.29 billion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 3.16 and a beta of 0.22. The company’s 50-day simple moving average is $208.15. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 0.88.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.07. NextEra Energy had a return on equity of 10.46% and a net margin of 18.73%. The company had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. NextEra Energy’s revenue was up 22.3% compared to the same quarter last year. As a group, research analysts predict that NextEra Energy Inc will post 8.36 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 29th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $5.00 annualized dividend and a yield of 2.37%. NextEra Energy’s dividend payout ratio (DPR) is currently 64.94%.

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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.

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Institutional Ownership by Quarter for NextEra Energy (NYSE:NEE)

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