Successful Portfolios LLC Reduces Stake in NextEra Energy, Inc. (NYSE:NEE)

Successful Portfolios LLC lowered its holdings in NextEra Energy, Inc. (NYSE:NEE) by 1.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 11,270 shares of the utilities provider’s stock after selling 143 shares during the quarter. Successful Portfolios LLC’s holdings in NextEra Energy were worth $953,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NEE. Intech Investment Management LLC grew its stake in NextEra Energy by 35.7% during the 1st quarter. Intech Investment Management LLC now owns 100,308 shares of the utilities provider’s stock worth $6,411,000 after buying an additional 26,382 shares during the last quarter. Ancora Advisors LLC grew its stake in NextEra Energy by 10.6% during the 1st quarter. Ancora Advisors LLC now owns 79,994 shares of the utilities provider’s stock worth $5,112,000 after buying an additional 7,677 shares during the last quarter. Magnolia Capital Advisors LLC grew its stake in shares of NextEra Energy by 1,224.3% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 72,453 shares of the utilities provider’s stock valued at $5,130,000 after purchasing an additional 66,982 shares during the last quarter. Raymond James & Associates grew its stake in shares of NextEra Energy by 57.0% in the 2nd quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock valued at $421,831,000 after purchasing an additional 2,163,437 shares during the last quarter. Finally, Studio Investment Management LLC grew its stake in shares of NextEra Energy by 12.9% in the 4th quarter. Studio Investment Management LLC now owns 94,852 shares of the utilities provider’s stock valued at $5,761,000 after purchasing an additional 10,837 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Insider Activity

In other news, EVP Nicole J. Daggs sold 658 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.97, for a total transaction of $50,646.26. Following the completion of the transaction, the executive vice president now directly owns 100 shares of the company’s stock, valued at approximately $7,697. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

NEE has been the topic of several analyst reports. Morgan Stanley lifted their target price on NextEra Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Citigroup lifted their target price on NextEra Energy from $69.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Jefferies Financial Group initiated coverage on NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 target price on the stock. BMO Capital Markets raised their price target on NextEra Energy from $79.00 to $83.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Bank of America raised their price target on NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $83.07.

NextEra Energy Stock Up 0.4 %

Shares of NEE traded up $0.33 during midday trading on Friday, reaching $81.27. 1,482,557 shares of the company were exchanged, compared to its average volume of 10,808,565. The stock has a 50-day moving average price of $81.12 and a 200-day moving average price of $74.59. The company has a market cap of $167.04 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 2.92 and a beta of 0.56. NextEra Energy, Inc. has a 1-year low of $50.95 and a 1-year high of $86.10. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Research analysts expect that NextEra Energy, Inc. will post 3.4 earnings per share for the current year.

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Friday, August 30th. NextEra Energy’s dividend payout ratio (DPR) is presently 66.88%.

About NextEra Energy

NextEra Energy, Inc, through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear,natural gas, and other clean energy. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.