Blake Schutter Theil Wealth Advisors LLC has increased its stake in NextEra Energy, Inc. (NYSE: NEE) by 5.1% during the second quarter of 2023, acquiring an additional 300 shares to bring its total holdings to 6,197 shares. This investment was valued at approximately $430,000 according to the firm’s latest filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also adjusted their positions in NextEra Energy. Notably, GQG Partners LLC expanded its stake by 58.4% in the first quarter, increasing its holdings to 17,236,502 shares, valued at around $1.22 billion. Similarly, Charles Schwab Investment Management Inc. raised its stake by 20.7%, now owning 16,446,413 shares worth about $1.17 billion. Amundi increased its investment by 27.8% with 12,200,990 shares valued at approximately $878 million, while Vanguard Group Inc. and Boston Partners also raised their stakes.
As a result of these adjustments, institutional investors now control 78.72% of NextEra Energy’s stock.
NextEra Energy’s Market Performance and Dividend Announcement
NextEra Energy’s shares opened at $84.42 on Friday. The company’s stock has seen a 12-month low of $61.72 and a high of $86.74, contributing to its market capitalization of $173.85 billion. The firm has a price-to-earnings (PE) ratio of 29.52 and a beta of 0.66.
The company recently announced a quarterly dividend of $0.5665, which will be paid on December 15, 2023. Shareholders of record as of November 21, 2023 will receive this dividend, translating to an annualized payment of approximately $2.27 and a yield of 2.7%. NextEra Energy’s payout ratio currently stands at 79.37%.
Insider Trading Activity and Analyst Ratings
Recent insider trading activity revealed that Executive Vice President Charles E. Sieving sold 11,336 shares on October 3, 2023, at an average price of $80.00, totaling $906,880. This transaction reduced his holdings to 167,481 shares, valued at approximately $13.4 million. Additionally, another executive, Mark Lemasney, sold 846 shares on September 25, 2023, for $63,365.40.
Over the last three months, insiders have sold a total of 30,528 shares valued at $2.28 million. Currently, insiders own only 0.20% of NextEra Energy’s stock.
Wall Street analysts have shown a positive outlook for NextEra Energy, with TD Cowen initiating coverage on October 16, 2023, and setting a “buy” rating with a target price of $98.00. Other analysts, including JPMorgan Chase & Co., have also increased their target prices, with JPMorgan raising theirs from $86.00 to $87.00. In total, three analysts have assigned a “Strong Buy” rating, while eleven have rated it a “Buy” and four have issued a “Hold” rating. The average target price across these analysts stands at $88.38.
NextEra Energy, through its subsidiaries, is engaged in generating, transmitting, and selling electric power across North America. The company focuses on renewable energy sources, including wind and solar power, and operates various clean energy solutions and electric generation facilities.
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