Magnolia Capital Advisors LLC Trims Position in NextEra Energy, Inc. $NEE

Magnolia Capital Advisors LLC lessened its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 6.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,503 shares of the utilities provider’s stock after selling 1,618 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in NextEra Energy were worth $1,701,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Activest Wealth Management grew its holdings in NextEra Energy by 79.7% during the second quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 157 shares during the period. Harbor Asset Planning Inc. bought a new stake in NextEra Energy during the second quarter valued at about $25,000. 1 North Wealth Services LLC bought a new stake in NextEra Energy during the first quarter valued at about $26,000. Quaker Wealth Management LLC boosted its stake in shares of NextEra Energy by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 386 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 772 shares during the period. Finally, Nova Wealth Management Inc. bought a new position in shares of NextEra Energy in the first quarter worth about $32,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Insider Buying and Selling at NextEra Energy

In other news, EVP Mark Lemasney sold 846 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total value of $63,365.40. Following the sale, the executive vice president directly owned 9,267 shares in the company, valued at approximately $694,098.30. This represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Charles E. Sieving sold 11,336 shares of the stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $80.00, for a total value of $906,880.00. Following the completion of the sale, the executive vice president owned 167,481 shares in the company, valued at approximately $13,398,480. The trade was a 6.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,028 shares of company stock worth $1,738,973 over the last ninety days. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NEE shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $85.00 price objective (up previously from $77.00) on shares of NextEra Energy in a research note on Tuesday, October 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $95.00 price objective (down previously from $96.00) on shares of NextEra Energy in a research note on Thursday, September 25th. Argus set a $90.00 price objective on NextEra Energy in a research note on Wednesday, October 29th. Melius began coverage on NextEra Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $77.00 price objective for the company. Finally, Cowen began coverage on NextEra Energy in a research note on Wednesday, October 15th. They set a “buy” rating for the company. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $90.22.

NextEra Energy Trading Up 0.6%

Shares of NEE stock opened at $81.90 on Tuesday. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $87.53. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.55 and a quick ratio of 0.45. The stock’s 50 day simple moving average is $77.44 and its two-hundred day simple moving average is $73.59. The company has a market cap of $170.56 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 2.76 and a beta of 0.66.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.The business had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Research analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 21st will be given a dividend of $0.5665 per share. The ex-dividend date is Friday, November 21st. This represents a $2.27 dividend on an annualized basis and a yield of 2.8%. NextEra Energy’s dividend payout ratio is 71.97%.

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.