Worth Asset Management LLC Reduces Stake in NextEra Energy, Inc. (NYSE:NEE)

Worth Asset Management LLC lowered its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 90.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,816 shares of the utilities provider’s stock after selling 25,485 shares during the quarter. Worth Asset Management LLC’s holdings in NextEra Energy were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. M&G Plc purchased a new stake in NextEra Energy in the 1st quarter worth about $303,065,000. Zimmer Partners LP raised its position in shares of NextEra Energy by 8,447.5% in the first quarter. Zimmer Partners LP now owns 2,735,200 shares of the utilities provider’s stock valued at $174,807,000 after purchasing an additional 2,703,200 shares during the period. State of Michigan Retirement System lifted its stake in shares of NextEra Energy by 400.7% during the 1st quarter. State of Michigan Retirement System now owns 2,812,198 shares of the utilities provider’s stock valued at $179,728,000 after buying an additional 2,250,500 shares in the last quarter. Raymond James & Associates boosted its holdings in NextEra Energy by 57.0% in the 2nd quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock worth $421,831,000 after buying an additional 2,163,437 shares during the period. Finally, LGT Group Foundation grew its stake in NextEra Energy by 962.8% in the 2nd quarter. LGT Group Foundation now owns 1,514,482 shares of the utilities provider’s stock valued at $107,240,000 after buying an additional 1,371,982 shares in the last quarter. 78.72% of the stock is owned by institutional investors.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.97, for a total value of $50,646.26. Following the completion of the sale, the executive vice president now owns 100 shares in the company, valued at approximately $7,697. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

NextEra Energy Stock Performance

NYSE NEE opened at $80.25 on Friday. The company has a market capitalization of $164.94 billion, a P/E ratio of 26.28, a P/E/G ratio of 2.92 and a beta of 0.56. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.41 and a current ratio of 0.49. NextEra Energy, Inc. has a 52-week low of $50.95 and a 52-week high of $86.10. The company has a fifty day moving average of $81.12 and a 200-day moving average of $74.59.

NextEra Energy (NYSE:NEE) last posted 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 net margin of 24.45% and a return on equity of 11.75%. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the firm posted $0.88 earnings per share. As a group, equities research analysts predict that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Friday, August 30th. NextEra Energy’s dividend payout ratio (DPR) is presently 66.88%.

Wall Street Analyst Weigh In

Several research firms have issued reports on NEE. BMO Capital Markets increased their target price on NextEra Energy from $79.00 to $83.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Barclays raised their target price on NextEra Energy from $76.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Scotiabank upped their price target on NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Dbs Bank lowered shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company upped their target price on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, NextEra Energy presently has a consensus rating of “Hold” and an average price target of $83.07.

NextEra Energy Company Profile

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.