WASHINGTON TRUST Co Has $28.60 Million Stock Position in NextEra Energy, Inc. (NYSE:NEE)

by · The Markets Daily

WASHINGTON TRUST Co lessened its stake in NextEra Energy, Inc. (NYSE:NEE – Free Report) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 338,392 shares of the utilities provider’s stock after selling 4,525 shares during the quarter. NextEra Energy comprises 1.0% of WASHINGTON TRUST Co’s investment portfolio, making the stock its 20th biggest position. WASHINGTON TRUST Co’s holdings in NextEra Energy were worth $28,604,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC increased its stake in NextEra Energy by 35.7% in the first quarter. Intech Investment Management LLC now owns 100,308 shares of the utilities provider’s stock valued at $6,411,000 after acquiring an additional 26,382 shares during the last quarter. Border to Coast Pensions Partnership Ltd increased its stake in shares of NextEra Energy by 2.2% in the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 1,216,077 shares of the utilities provider’s stock valued at $102,495,000 after purchasing an additional 26,270 shares during the last quarter. Ancora Advisors LLC raised its holdings in shares of NextEra Energy by 10.6% during the 1st quarter. Ancora Advisors LLC now owns 79,994 shares of the utilities provider’s stock worth $5,112,000 after buying an additional 7,677 shares in the last quarter. Magnolia Capital Advisors LLC boosted its stake in NextEra Energy by 1,224.3% in the second quarter. Magnolia Capital Advisors LLC now owns 72,453 shares of the utilities provider’s stock valued at $5,130,000 after buying an additional 66,982 shares in the last quarter. Finally, Raymond James & Associates grew its position in NextEra Energy by 57.0% in the second quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock valued at $421,831,000 after acquiring an additional 2,163,437 shares during the last quarter. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Trading Down 0.5 %

NextEra Energy stock traded down $0.38 during mid-day trading on Wednesday, hitting $79.18. 2,770,910 shares of the stock were exchanged, compared to its average volume of 10,726,278. The stock has a market capitalization of $162.68 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 3.03 and a beta of 0.56. NextEra Energy, Inc. has a 12 month low of $53.81 and a 12 month high of $86.10. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 1.15. The firm’s fifty day simple moving average is $82.44 and its two-hundred day simple moving average is $76.53.

NextEra Energy (NYSE:NEE – Get Free Report) last released its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. The business had revenue of $7.57 billion for the quarter, compared to analyst estimates of $8.11 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. NextEra Energy’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 earnings per share. Analysts forecast that NextEra Energy, Inc. will post 3.4 EPS for the current year.

NextEra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be issued a $0.515 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a yield of 2.60%. NextEra Energy’s payout ratio is currently 56.13%.

Insiders Place Their Bets

In related news, EVP Nicole J. Daggs sold 658 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.97, for a total transaction of $50,646.26. Following the transaction, the executive vice president now directly owns 100 shares of the company’s stock, valued at $7,697. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NEE shares. Jefferies Financial Group assumed coverage on shares of NextEra Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $87.00 target price for the company. Bank of America raised their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their price target on shares of NextEra Energy from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Morgan Stanley upped their target price on NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Finally, Dbs Bank lowered NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $86.54.

Get Our Latest Stock Analysis on NextEra Energy

NextEra Energy Company Profile

(Free Report)

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.

Read More