Stock Yards Bank & Trust Co. Reduces Stake in NextEra Energy, Inc.
Stock Yards Bank & Trust Co. has decreased its stake in NextEra Energy, Inc. (NYSE:NEE) by 10.7% during the third quarter. According to the latest Form 13F filing with the Securities and Exchange Commission (SEC), the institutional investor now owns 499,003 shares of NextEra Energy after selling 59,903 shares during the quarter. NextEra Energy constitutes roughly 1.4% of Stock Yards Bank & Trust Co.’s investment portfolio and is its 18th largest position. As per the latest SEC filing, Stock Yards Bank & Trust Co.’s holdings in NextEra Energy were valued at $42,181,000.
Several other institutional investors have also adjusted their positions in NextEra Energy recently. Proffitt & Goodson Inc. significantly increased its position by 64.0% during the second quarter, acquiring 369 shares of the utility provider’s stock, estimated to be worth $26,000 after an additional 144 shares were purchased. Semmax Financial Advisors Inc. advanced its holdings in NextEra Energy by 197.4% in the same quarter, reporting ownership of 339 shares, valued at $26,000, following the acquisition of 225 more shares.
Further, Reston Wealth Management LLC acquired a new stake in NextEra Energy during the third quarter valued at approximately $27,000. Valley Wealth Managers Inc. secured a new investment share during the second quarter valued at about $33,000, while Quarry LP followed suit in the third quarter with an approximate $33,000 investment. Notably, institutional investors currently own approximately 78.72% of NextEra Energy’s stock.
Brokerage Ratings and Price Targets
Various brokerage firms have expressed their observations on NextEra Energy. Barclays revised its price objective on the company’s shares from $80.00 to $82.00, assigning an “equal weight” rating in its research report. Jefferies Financial Group initiated coverage on NextEra Energy with a “hold” rating and a $87.00 price target. Despite some adjustments, analysts from Morgan Stanley decreased their target price from $95.00 to $94.00 and maintained an “overweight” rating on the stock. Additionally, Wells Fargo & Company increased their target price to $102.00, reiterating an “overweight” perspective.
Meanwhile, Guggenheim also adjusted its price target from $90.00 to $92.00, maintaining a “buy” rating for NextEra Energy. In total, eight analysts have recommended a “hold” for the stock, while seven have issued a “buy” recommendation. Comprehensively, the stock carries a consensus rating of “Hold” with a consensus target price of $86.85.
Financial Performance and Dividend Information
NextEra Energy’s stock commenced at $73.98 on Thursday. The company reports a debt-to-equity ratio of 1.11, a quick ratio of 0.33, and a current ratio of 0.41. Over the past 52 weeks, NextEra Energy has ranged between a low of $53.95 and a high of $86.10. It boasts a market capitalization of $152.13 billion, a P/E ratio of 21.89, a PEG ratio of 2.72, and a beta of 0.56. The stock maintains a fifty-day moving average price of $78.85 and a 200-day moving average of $77.79.
During its recently published earnings results for the quarter ending October 23rd, NextEra Energy reported earnings per share of $1.03, surpassing consensus estimates of $0.98 by $0.05. The firm garnered $7.57 billion in revenue, slightly trailing the anticipated $8.11 billion. The company recorded a return on equity of 11.94% and a net margin of 26.49%. The quarterly revenue indicated a 5.5% increase compared to the previous year’s same quarter results where NextEra Energy had earned $0.94 EPS. Analysts predict that NextEra Energy, Inc. will report 3.41 EPS for the current year.
Moreover, the company declared a quarterly dividend payable on Monday, December 16th, with shareholders of record on Friday, November 22nd receiving a dividend of $0.515 per share. This equates to an annualized dividend of $2.06 and a dividend yield of 2.78%. The ex-dividend date is also Friday, November 22nd, and the current dividend payout ratio (DPR) is 60.95%.
Insider Transactions
In recent developments, EVP Nicole J. Daggs sold 4,007 shares of NextEra Energy at an average price of $75.57, amounting to a total of $302,808.99. Following this transaction, the executive vice president maintains ownership of 15,792 shares of the company’s stock, valued at approximately $1,193,401.44. This represents a 20.24% decrease in stock ownership for the executive. Company insiders presently own 0.18% of NextEra Energy’s shares.
About NextEra Energy, Inc.
NextEra Energy, Inc., operating through its subsidiaries, is a leading provider of electric power to retail and wholesale customers in North America. The company generates electricity using renewable resources including wind, solar, and nuclear, alongside natural gas and other clean energy operations. NextEra Energy also develops and constructs long-term contracted assets, such as renewable energy facilities, battery storage projects, and electric transmission infrastructure. The company actively sells energy commodities and manages electric generation facilities across wholesale energy markets.
