Republican Virginia Foxx, a businesswoman and politician serving as the U.S. representative from North Carolina’s 5th Congressional district, is known to be an avid trader (buy and sell) of stocks. Her recent trading activity shows that the congresswoman sold chunks of two energy companies in mid-October. The first one is NextEra Energy, Inc. (NYSE:NEE) and the other is Canadian-based Capital Power Corp. (OTCMKTS:CPXWF) (TSE:CPX).
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On the other hand, Foxx made relatively smaller purchases ($1,000 to $15,000) of oil and gas major Marathon Oil Corp. (NYSE:MRO) and LNG vessels carrier operator Flex LNG Ltd. (NYSE:FLNG) in October. Let’s take a look at both companies that Foxx sold and their recent performances.
NextEra Energy, Inc. (NYSE:NEE)
Florida-based NextEra Energy runs two energy businesses. Through its Florida Power & Light Company (FPL) business, the company provides clean, reliable, and affordable electricity across Florida. Also, NextEra Energy owns a clean energy business, NextEra Energy Resources (NEER), which is the world’s largest generator of renewable energy from wind and sun. On October 14, Foxx sold NEE shares in the range of $100,000 to $250,000.
Is NextEra a Buy, Sell, or Hold?
With nine Buys and one Hold rating, NextEra Energy stock commands a Strong Buy consensus rating. The average NextEra Energy price target of $93 implies 12.9% upside potential to current levels. Meanwhile, NEE stock has gained 17.2% in the past six months.
Capital Power Corp. (OTCMKTS:CPXWF) (TSE:CPX)
Alberta-based Capital Power Corp. develops, acquires, owns, and operates power generation facilities using a variety of energy sources, including natural gas, coal, wind, solar, and solid fuel energy. On October 21, Foxx sold CPXWF shares in the range of $50,000 to $100,000.
Is Capital Power a Good Buy?
On TipRanks, Capital Power Corp. stock has a Hold consensus rating. This is based on two Buys and six Hold ratings. Also, the average Capital Power Corp. price forecast of C$51.50 implies 19.2% upside potential to current levels. Meanwhile, TSE:CPX stock has gained 14% year to date.
Concluding Views
Republican Foxx’s historical trades show that she has favored the energy sector. Hence, it is not surprising that her most recent trades, both buy and sell, revolve around the energy sector. Importantly, Foxx has made profitable trades in the past, and investors may choose to follow her stock picks to make informed investment decisions.
