Insider Selling: NextEra Energy Inc (NYSE:NEE) Director Sells $12,293,543.20 in Stock

Samuel Edwards

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NextEra Energy Inc (NYSE:NEE) Director James L. Robo sold 165,860 shares of the company’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $74.12, for a total value of $12,293,543.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

James L. Robo also recently made the following trade(s):

  • On Tuesday, September 1st, James L. Robo sold 41,466 shares of NextEra Energy stock. The stock was sold at an average price of $276.59, for a total value of $11,469,080.94.

NEE stock opened at $73.21 on Monday. The company has a current ratio of 0.61, a quick ratio of 0.50 and a debt-to-equity ratio of 1.03. NextEra Energy Inc has a 12-month low of $43.70 and a 12-month high of $77.01. The stock has a market cap of $143.42 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 4.12 and a beta of 0.20. The business’s 50-day moving average is $77.13 and its 200 day moving average is $67.40.

NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, October 21st. The utilities provider reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.02). NextEra Energy had a return on equity of 10.55% and a net margin of 18.71%. The business had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same period last year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was down 14.1% compared to the same quarter last year. As a group, equities analysts forecast that NextEra Energy Inc will post 9.17 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 27th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 7.65%. The ex-dividend date is Wednesday, November 25th. NextEra Energy’s dividend payout ratio (DPR) is 16.73%.

NEE has been the subject of several analyst reports. Credit Suisse Group increased their price objective on NextEra Energy from $66.50 to $76.25 and gave the company a “neutral” rating in a report on Monday, October 19th. ValuEngine lowered NextEra Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 27th. Wells Fargo & Company increased their price objective on NextEra Energy from $83.75 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, October 6th. Morgan Stanley decreased their price objective on NextEra Energy to $65.75 and set an “equal weight” rating for the company in a report on Tuesday, October 27th. Finally, Seaport Global Securities began coverage on NextEra Energy in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $57.25 target price for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $69.57.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEE. Bank of New York Mellon Corp raised its position in shares of NextEra Energy by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,092,072 shares of the utilities provider’s stock valued at $1,222,962,000 after buying an additional 31,126 shares during the period. California Public Employees Retirement System raised its position in shares of NextEra Energy by 5.6% during the 2nd quarter. California Public Employees Retirement System now owns 4,031,042 shares of the utilities provider’s stock valued at $968,135,000 after buying an additional 214,306 shares during the period. Fisher Asset Management LLC raised its position in shares of NextEra Energy by 158,981.7% during the 2nd quarter. Fisher Asset Management LLC now owns 2,938,239 shares of the utilities provider’s stock valued at $705,677,000 after buying an additional 2,936,392 shares during the period. APG Asset Management N.V. raised its position in shares of NextEra Energy by 24.6% during the 1st quarter. APG Asset Management N.V. now owns 2,590,238 shares of the utilities provider’s stock valued at $623,263,000 after buying an additional 512,077 shares during the period. Finally, Swiss National Bank raised its position in shares of NextEra Energy by 0.7% during the 2nd quarter. Swiss National Bank now owns 2,311,383 shares of the utilities provider’s stock valued at $555,125,000 after buying an additional 16,100 shares during the period. 75.97% of the stock is currently owned by institutional investors and hedge funds.

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About NextEra Energy

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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