Cushing Asset Management LP cut its stake in shares of NextEra Energy (NYSE:NEE) by 26.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,800 shares of the utilities provider’s stock after selling 1,400 shares during the quarter. Cushing Asset Management LP’s holdings in NextEra Energy were worth $594,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEE. Taylor Hoffman Wealth Management purchased a new stake in shares of NextEra Energy in the fourth quarter valued at $106,000. D Orazio & Associates Inc. purchased a new stake in shares of NextEra Energy in the fourth quarter valued at $113,000. Risk Paradigm Group LLC lifted its holdings in shares of NextEra Energy by 108.1% in the third quarter. Risk Paradigm Group LLC now owns 851 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 442 shares in the last quarter. Archford Capital Strategies LLC lifted its holdings in shares of NextEra Energy by 76.9% in the second quarter. Archford Capital Strategies LLC now owns 10,000 shares of the utilities provider’s stock valued at $128,000 after purchasing an additional 4,347 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new stake in shares of NextEra Energy in the fourth quarter valued at $128,000. 76.38% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:NEE traded down $1.25 during midday trading on Friday, hitting $162.75. 1,442,758 shares of the stock were exchanged, compared to its average volume of 2,403,693. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 1.07. The firm has a market cap of $77,210.21, a price-to-earnings ratio of 24.29, a P/E/G ratio of 2.69 and a beta of 0.24. NextEra Energy has a 52-week low of $128.31 and a 52-week high of $164.71.
NextEra Energy (NYSE:NEE) last posted its earnings results on Friday, January 26th. The utilities provider reported $1.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.06). The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.18 billion. NextEra Energy had a return on equity of 11.50% and a net margin of 31.28%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 earnings per share. sell-side analysts forecast that NextEra Energy will post 7.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th were given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.73%. This is an increase from NextEra Energy’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Monday, February 26th. NextEra Energy’s dividend payout ratio is presently 66.27%.
A number of research firms have recently issued reports on NEE. Zacks Investment Research lowered NextEra Energy from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Morgan Stanley reduced their target price on NextEra Energy from $172.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, February 13th. ValuEngine upgraded NextEra Energy from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Guggenheim reiterated a “buy” rating and set a $177.00 price objective on shares of NextEra Energy in a report on Wednesday, January 3rd. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $163.80.
In other NextEra Energy news, CEO Armando Pimentel, Jr. sold 9,250 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $151.83, for a total transaction of $1,404,427.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James L. Robo sold 18,000 shares of the stock in a transaction on Monday, March 19th. The stock was sold at an average price of $160.89, for a total transaction of $2,896,020.00. The disclosure for this sale can be found here. Insiders have sold 62,245 shares of company stock worth $9,783,623 over the last three months. Company insiders own 0.53% of the company’s stock.
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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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.
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