Somerset Trust Co trimmed its holdings in NextEra Energy Inc (NYSE:NEE) by 14.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,831 shares of the utilities provider’s stock after selling 3,447 shares during the quarter. NextEra Energy accounts for about 1.6% of Somerset Trust Co’s portfolio, making the stock its 12th biggest holding. Somerset Trust Co’s holdings in NextEra Energy were worth $3,253,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Hanson McClain Inc. raised its holdings in NextEra Energy by 6.0% during the 2nd quarter. Hanson McClain Inc. now owns 763 shares of the utilities provider’s stock worth $107,000 after buying an additional 43 shares during the period. Risk Paradigm Group LLC raised its holdings in NextEra Energy by 108.1% during the 3rd quarter. Risk Paradigm Group LLC now owns 851 shares of the utilities provider’s stock worth $125,000 after buying an additional 442 shares during the period. Archford Capital Strategies LLC raised its holdings in NextEra Energy by 76.9% during the 2nd quarter. Archford Capital Strategies LLC now owns 10,000 shares of the utilities provider’s stock worth $128,000 after buying an additional 4,347 shares during the period. Highstreet Asset Management Inc. acquired a new stake in NextEra Energy during the 2nd quarter worth about $134,000. Finally, Horan Capital Advisors LLC. acquired a new stake in NextEra Energy during the 3rd quarter worth about $134,000. 75.41% of the stock is owned by institutional investors.
NEE has been the topic of several recent analyst reports. Zacks Investment Research upgraded NextEra Energy from a “hold” rating to a “buy” rating and set a $178.00 price objective on the stock in a report on Tuesday, December 12th. KeyCorp restated a “buy” rating and set a $155.00 price objective on shares of NextEra Energy in a report on Thursday, October 12th. Argus restated a “buy” rating and set a $173.00 price objective on shares of NextEra Energy in a report on Tuesday, December 5th. They noted that the move was a valuation call. Royal Bank of Canada restated a “buy” rating and set a $156.00 price objective on shares of NextEra Energy in a report on Tuesday, November 7th. Finally, Bank of America initiated coverage on NextEra Energy in a report on Tuesday, October 24th. They issued a “buy” rating and a $166.00 target price on the stock. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $159.56.
In related news, CEO Armando Pimentel, Jr. sold 42,372 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $157.45, for a total value of $6,671,471.40. Following the completion of the sale, the chief executive officer now owns 121,958 shares of the company’s stock, valued at approximately $19,202,287.10. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director James L. Robo sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $151.52, for a total value of $4,545,600.00. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.
Shares of NextEra Energy Inc (NYSE:NEE) traded up $0.22 on Wednesday, hitting $150.54. The stock had a trading volume of 1,867,800 shares, compared to its average volume of 2,048,090. The firm has a market cap of $71,680.00, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 2.78 and a beta of 0.31. NextEra Energy Inc has a one year low of $117.91 and a one year high of $159.40. The company has a quick ratio of 0.49, a current ratio of 0.61 and a debt-to-equity ratio of 1.11.
NextEra Energy (NYSE:NEE) last issued its earnings results on Thursday, October 26th. The utilities provider reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.08. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.89 billion. NextEra Energy had a return on equity of 11.86% and a net margin of 24.81%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.74 EPS. equities analysts predict that NextEra Energy Inc will post 6.73 earnings per share for the current year.
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About NextEra Energy
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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