Cypress Capital Group Reduces Holdings in NextEra Energy, Inc. $NEE

Cypress Capital Group trimmed its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 28.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,900 shares of the utilities provider’s stock after selling 10,589 shares during the quarter. Cypress Capital Group’s holdings in NextEra Energy were worth $1,867,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. 1 North Wealth Services LLC bought a new stake in shares of NextEra Energy during the first quarter worth $26,000. Nova Wealth Management Inc. bought a new stake in shares of NextEra Energy during the first quarter worth $32,000. IMA Advisory Services Inc. bought a new stake in shares of NextEra Energy during the first quarter worth $35,000. Semmax Financial Advisors Inc. lifted its position in shares of NextEra Energy by 335.0% during the first quarter. Semmax Financial Advisors Inc. now owns 509 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 392 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its position in shares of NextEra Energy by 237.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 366 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NEE has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on NextEra Energy from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, August 22nd. Barclays lifted their target price on NextEra Energy from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Mizuho set a $78.00 price objective on shares of NextEra Energy in a research note on Thursday, August 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NextEra Energy in a research note on Saturday, September 27th. Finally, HSBC lowered their price objective on shares of NextEra Energy from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.08.

NextEra Energy Stock Performance

Shares of NextEra Energy stock opened at $83.30 on Monday. The company has a market capitalization of $171.54 billion, a PE ratio of 29.13, a P/E/G ratio of 2.82 and a beta of 0.66. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54. The company has a 50-day simple moving average of $74.20 and a two-hundred day simple moving average of $71.75. NextEra Energy, Inc. has a one year low of $61.72 and a one year high of $86.00.

NextEra Energy (NYSE:NEE) last announced its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 earnings per share. Research analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 28th were issued a $0.5665 dividend. The ex-dividend date was Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a yield of 2.7%. NextEra Energy’s payout ratio is currently 79.37%.

Insiders Place Their Bets

In other NextEra Energy news, Treasurer James Michael May sold 2,177 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total value of $168,717.50. Following the completion of the transaction, the treasurer directly owned 27,662 shares in the company, valued at approximately $2,143,805. The trade was a 7.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Dunne sold 10,000 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $70.79, for a total transaction of $707,900.00. Following the transaction, the executive vice president owned 62,064 shares in the company, valued at approximately $4,393,510.56. This trade represents a 13.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,705 shares of company stock valued at $2,446,490 in the last three months. 0.18% of the stock is currently owned by insiders.

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.