Terra Nova Asset Management LLC Sells 13,344 Shares of NextEra Energy, Inc. (NYSE:NEE)

Terra Nova Asset Management LLC lowered its stake in NextEra Energy, Inc. (NYSE:NEE) by 39.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,657 shares of the utilities provider’s stock after selling 13,344 shares during the quarter. Terra Nova Asset Management LLC’s holdings in NextEra Energy were worth $1,255,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NEE. Elwood & Goetz Wealth Advisory Group LLC lifted its stake in shares of NextEra Energy by 14.0% in the 4th quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 9,646 shares of the utilities provider’s stock valued at $586,000 after acquiring an additional 1,183 shares during the last quarter. Ballast Inc. boosted its position in NextEra Energy by 26.6% during the 4th quarter. Ballast Inc. now owns 5,480 shares of the utilities provider’s stock worth $333,000 after buying an additional 1,150 shares during the period. Evanson Asset Management LLC acquired a new position in NextEra Energy in the 4th quarter valued at approximately $222,000. Everett Harris & Co. CA lifted its holdings in NextEra Energy by 1.7% in the fourth quarter. Everett Harris & Co. CA now owns 118,869 shares of the utilities provider’s stock valued at $7,220,000 after buying an additional 1,988 shares during the period. Finally, Trueblood Wealth Management LLC bought a new stake in NextEra Energy in the fourth quarter worth approximately $850,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Stock Performance

Shares of NEE stock opened at $63.91 on Friday. NextEra Energy, Inc. has a 12 month low of $47.15 and a 12 month high of $79.78. The stock has a market capitalization of $131.17 billion, a P/E ratio of 17.70, a PEG ratio of 2.27 and a beta of 0.50. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 1.06. The firm’s 50 day moving average is $57.83 and its 200 day moving average is $58.62.

NextEra Energy (NYSE:NEE) last posted its earnings results on Thursday, January 25th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. The firm had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $5.72 billion. NextEra Energy had a return on equity of 11.73% and a net margin of 26.00%. During the same quarter in the prior year, the business posted $0.51 earnings per share. On average, sell-side analysts anticipate that NextEra Energy, Inc. will post 3.44 earnings per share for the current year.

NextEra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Monday, February 26th. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s payout ratio is presently 57.06%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NEE. Royal Bank of Canada restated an “outperform” rating and issued a $74.00 price target on shares of NextEra Energy in a report on Tuesday, January 30th. Citigroup started coverage on shares of NextEra Energy in a research report on Friday, December 8th. They set a “buy” rating and a $69.00 target price on the stock. Mizuho reaffirmed a “buy” rating and issued a $67.00 target price (up from $65.00) on shares of NextEra Energy in a report on Friday, March 15th. BMO Capital Markets lifted their price target on NextEra Energy from $76.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Finally, Wells Fargo & Company boosted their price objective on NextEra Energy from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, NextEra Energy has a consensus rating of “Moderate Buy” and an average target price of $72.46.

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.