Tred Avon Family Wealth LLC has acquired a significant stake in NextEra Energy, Inc., investing approximately $2.97 million during the third quarter of 2023. The firm purchased 39,303 shares of the utility provider’s stock, which now constitutes about 1.0% of its overall investment portfolio, making it the 20th largest holding for Tred Avon.
This transaction reflects a broader trend among large institutional investors, as several other firms have also adjusted their positions in NextEra Energy. For instance, Sax Wealth Advisors LLC increased its stake by 0.6%, now holding 19,380 shares valued at approximately $1.46 million. Similarly, apricus wealth LLC raised its position by 3.8%, acquiring an additional 120 shares to own a total of 3,272 shares, worth $247,000. Fingerlakes Wealth Management Inc. and Princeton Global Asset Management LLC also made slight increases in their shareholdings during the same period.
As of the latest reports, institutional investors collectively own approximately 78.72% of NextEra Energy’s stock, indicating strong confidence in the company’s performance.
Insider Activity and Stock Performance
In a notable development, CEO Armando Pimentel, Jr. sold 145,140 shares of the company on November 17, 2023, at an average price of $83.91, totaling about $12.18 million. Following this transaction, Pimentel’s remaining shares are valued at approximately $13.65 million, representing a 47.15% decrease in his position. This sale was disclosed in a filing with the Securities and Exchange Commission.
NextEra Energy’s stock opened at $83.65 on Friday, with a 52-week low of $61.72 and a high of $87.53. The company’s market capitalization currently stands at $174.21 billion, with a price-to-earnings ratio of 26.64.
Quarterly Earnings and Future Outlook
NextEra Energy reported its quarterly earnings on October 28, 2023, revealing an earnings per share (EPS) of $1.13, surpassing analysts’ expectations of $1.04. The company generated revenues of $7.97 billion, slightly below the anticipated $8.13 billion. Compared to the previous year, NextEra’s revenue increased by 5.3%, and it reported a return on equity of 12.42%.
The firm also announced a quarterly dividend of $0.5665 per share, which was paid to shareholders on December 15. This dividend represents an annualized figure of $2.27 with a yield of 2.7%. The current payout ratio is approximately 72.29%.
Headquartered in Juno Beach, Florida, NextEra Energy, Inc. is recognized for its leadership in clean energy, operating both regulated utility services and competitive renewable energy generation businesses. Its major subsidiaries include Florida Power & Light Company and NextEra Energy Resources, which collectively provide a range of electricity services and renewable energy solutions.
As investor interest continues to grow, NextEra Energy remains a focal point for stakeholders in the utilities sector.
