NEE
A little less NextEra in Alaska's portfolio
The State of Alaska Department of Revenue trimmed its NextEra Energy stake by 13,915 shares in the latest quarter, cutting the position to 206,899 shares. In plain English: the fund still likes the utility, just not quite as much as it did a few months ago.
Why you should care
This kind of filing isn't a giant flashing siren, but it does add to the mood music around the stock. NextEra has also had a busy quarter on the insider-sales front — CEO John W. Ketchum and EVP Charles Sieving both sold shares — which can make investors squint a little harder at the name.
The other stuff in the background
The company is still serving up the usual utility-company comfort food:
- It raised its quarterly dividend to $0.6232 a share, or about $2.49 annually.
- It recently posted an earnings beat, with EPS of $0.54 versus $0.53 expected.
- Revenue, though, came in lighter than Wall Street wanted.
Meanwhile, analysts still mostly like the stock, with a consensus "Moderate Buy" and a price target around $94.94. So the bull case isn't broken — but the stock may be drifting into that awkward zone where the story is good, the expectations are higher, and every sale gets a little more attention than usual.
Big picture
NextEra remains a heavyweight utility with income appeal, but when insiders and institutions are both nibbling less aggressively, you start wondering whether the market is already doing some of the heavy lifting for you.