TrueMark Investments LLC Sells 24,097 Shares of NextEra Energy, Inc. (NYSE:NEE)

TrueMark Investments LLC lowered its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 27.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 64,570 shares of the utilities provider’s stock after selling 24,097 shares during the period. NextEra Energy comprises about 1.5% of TrueMark Investments LLC’s investment portfolio, making the stock its 26th biggest position. TrueMark Investments LLC’s holdings in NextEra Energy were worth $4,629,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Burkett Financial Services LLC increased its holdings in shares of NextEra Energy by 1,229.6% in the fourth quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock worth $26,000 after buying an additional 332 shares during the period. Sugar Maple Asset Management LLC purchased a new stake in NextEra Energy during the 4th quarter valued at $28,000. Quarry LP bought a new stake in NextEra Energy in the 3rd quarter worth $33,000. Luken Investment Analytics LLC purchased a new position in shares of NextEra Energy in the fourth quarter valued at about $36,000. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of NextEra Energy by 2,482.6% during the third quarter. Harvest Fund Management Co. Ltd now owns 594 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 571 shares during the last quarter. 78.72% of the stock is owned by institutional investors.

NextEra Energy Stock Performance

NextEra Energy stock opened at $68.70 on Wednesday. The stock’s 50 day moving average is $70.70 and its 200 day moving average is $75.34. The company has a market capitalization of $141.32 billion, a P/E ratio of 20.39, a PEG ratio of 2.45 and a beta of 0.58. NextEra Energy, Inc. has a twelve month low of $61.30 and a twelve month high of $86.10. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. On average, equities research analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Friday, February 28th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. NextEra Energy’s dividend payout ratio is currently 67.06%.

Insider Activity

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total transaction of $162,258.47. Following the sale, the chief accounting officer now directly owns 27,427 shares in the company, valued at approximately $1,867,504.43. This trade represents a 7.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Jefferies Financial Group reduced their price target on NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. Scotiabank upped their target price on NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Evercore ISI reduced their price objective on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a research report on Monday, January 27th. Guggenheim reaffirmed a “buy” rating and issued a $89.00 target price on shares of NextEra Energy in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $85.92.

NextEra Energy 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.