The Vanguard Group, Inc. recently announced the acquisition of new stake in NextEra Energy Inc (NYSE:NEE). The institutional investor has increased its shareholding in the Utilities company by 0.82% to 189.06 million shares with purchase of 1.53 million shares. This fresh investment now brings its stake to 9.22% valued currently at $11.48 billion. In addition, BlackRock Fund Advisors raised its holdings by 3.81 million to 101.85 million shares. And JPMorgan Investment Management, I has lifted its position by 10.59% or 5.39 million shares – to 56.26 million shares.
Currently, there are 2.05B common shares owned by the public and among those 2.04B shares have been available to trade.
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Insiders at the company have transacted a total of 73 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 49 of these insider trades were purchases, accounting for 325,447 shares. Insider sales of the common stock occurred on 24 occasions, with total insider shares sold totaling 78,808 shares.
The top 3 mutual fund holders in NextEra Energy Inc are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Government Pension Fund – Global. Vanguard Total Stock Market ETF owns 63.54 million shares of the company’s stock, all valued at over $3.86 billion. The company sold -0.74 million shares recently to bring their total holdings to about 3.10% of the shares outstanding. Vanguard 500 Index Fund bought 0.78 million shares to see its total holdings expand to 50.1 million shares valued at over $3.04 billion and representing 2.44% of the shares outstanding. Government Pension Fund – Global bought 4.17 million shares to bring its total holdings to over 32.89 million shares at a value of $2.0 billion. Government Pension Fund – Global now owns shares totaling to 1.60% of the shares outstanding.
However, the script later moved the day high at 57.78, down -0.68%. The company’s stock has a 5-day price change of -5.70% and 7.55% over the past three months. NEE shares are trading -5.73% year to date (YTD), with the 12-month market performance down to -31.67% lower. It has a 12-month low price of $47.15 and touched a high of $84.34 over the same period. NEE has an average intraday trading volume of 11.79 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.82%, -3.59%, and -14.40% respectively.
Institutional ownership of NextEra Energy Inc (NYSE: NEE) shares accounts for 79.98% of the company’s 2.05B shares outstanding. Mutual fund holders own 37.07%, while other institutional holders and individual stakeholders account for 43.47% and 0.26% respectively.
It has a market capitalization of $117.48B and a beta (3y monthly) value of 0.53. The stock’s trailing 12-month PE ratio is 15.14, while the earnings-per-share (ttm) stands at $3.78. The company has a PEG of 1.86 and a Quick Ratio of 0.43 with the debt-to-equity ratio at 1.56. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.06% over the week and 2.10% over the month.
Analysts forecast that NextEra Energy Inc (NEE) will achieve an EPS of $0.49 for the current quarter, $0.8 for the next quarter and $3.4 for 2024. The lowest estimate earnings-per-share for the quarter is $0.45 while analysts give the company a high EPS estimate of $0.59. Comparatively, EPS for the current quarter was $0.51 a year ago. Earnings per share for the fiscal year are expected to increase by 7.88%, and 8.64% over the next financial year. EPS should grow at an annualized rate of 8.15% over the next five years, compared to -5.95% over the past 5-year period.
Looking at the support for the NEE, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on December 08, 2023, with the firm’s price target at $69.
