Naviter Wealth LLC Cuts Position in NextEra Energy, Inc. (NYSE:NEE)

Naviter Wealth LLC cut its stake in NextEra Energy, Inc. (NYSE:NEE) by 10.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,428 shares of the utilities provider’s stock after selling 1,256 shares during the period. Naviter Wealth LLC’s holdings in NextEra Energy were worth $633,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NEE. BOK Financial Private Wealth Inc. purchased a new position in NextEra Energy during the fourth quarter worth $29,000. Stuart Chaussee & Associates Inc. grew its holdings in shares of NextEra Energy by 315.4% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock worth $33,000 after buying an additional 410 shares in the last quarter. Rakuten Securities Inc. purchased a new position in shares of NextEra Energy during the fourth quarter valued at approximately $34,000. Alaska Permanent Fund Corp lifted its stake in shares of NextEra Energy by 59.8% during the 3rd quarter. Alaska Permanent Fund Corp now owns 556 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 208 shares during the period. Finally, Valued Wealth Advisors LLC acquired a new stake in shares of NextEra Energy in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Trading Down 0.6 %

Shares of NYSE NEE opened at $66.99 on Wednesday. The company has a market cap of $137.62 billion, a PE ratio of 18.25, a P/E/G ratio of 2.48 and a beta of 0.51. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.12. The company has a 50-day moving average of $61.26 and a two-hundred day moving average of $59.34. NextEra Energy, Inc. has a 1-year low of $47.15 and a 1-year high of $78.53.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. The business had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $6.28 billion. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. The firm’s revenue was down 14.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. As a group, equities analysts expect that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Monday, February 26th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s payout ratio is 56.13%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America boosted their price objective on shares of NextEra Energy from $61.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 23rd. Wells Fargo & Company raised their price target on shares of NextEra Energy from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $74.00 target price on shares of NextEra Energy in a report on Tuesday, January 30th. Morgan Stanley raised their price target on shares of NextEra Energy from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, Guggenheim increased their price target on NextEra Energy from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.50.

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.