Edgemoor Investment Advisors Inc. Trims Stake in NextEra Energy, Inc. (NYSE:NEE)

Edgemoor Investment Advisors Inc. cut its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,877 shares of the utilities provider’s stock after selling 1,454 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in NextEra Energy were worth $6,856,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BOK Financial Private Wealth Inc. bought a new position in NextEra Energy during the 4th quarter worth about $29,000. Alaska Permanent Fund Corp increased its holdings in NextEra Energy by 59.8% during the third quarter. Alaska Permanent Fund Corp now owns 556 shares of the utilities provider’s stock valued at $32,000 after buying an additional 208 shares during the period. Stuart Chaussee & Associates Inc. lifted its holdings in 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 during the period. Valued Wealth Advisors LLC bought a new stake in NextEra Energy during the 4th quarter valued at $34,000. Finally, Rakuten Securities Inc. purchased a new position in shares of NextEra Energy in the 4th quarter valued at $34,000. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

NYSE NEE traded down $0.79 on Friday, reaching $73.79. 12,046,747 shares of the company’s stock traded hands, compared to its average volume of 12,264,612. The stock has a 50 day moving average price of $63.77 and a 200-day moving average price of $60.28. The firm has a market cap of $151.60 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 2.72 and a beta of 0.50. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.43 and a current ratio of 0.51. NextEra Energy, Inc. has a fifty-two week low of $47.15 and a fifty-two week high of $78.53.

NextEra Energy (NYSE:NEE) last issued its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The firm 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 company’s revenue was down 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. Equities research analysts predict that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were paid a $0.515 dividend. This is a boost from NextEra Energy’s previous quarterly dividend of $0.47. This represents a $2.06 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Monday, February 26th. NextEra Energy’s payout ratio is currently 56.13%.

Analyst Ratings Changes

A number of brokerages recently weighed in on NEE. Barclays started coverage on NextEra Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $66.00 price objective on the stock. Mizuho lifted their price objective on shares of NextEra Energy from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Guggenheim increased their target price on shares of NextEra Energy from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Morgan Stanley lifted their price target on shares of NextEra Energy from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Finally, StockNews.com upgraded NextEra Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.93.

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.