Moors & Cabot Inc. Has $13.38 Million Stock Position in NextEra Energy, Inc. $NEE

Moors & Cabot Inc. cut its position in NextEra Energy, Inc. (NYSE:NEE) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 177,171 shares of the utilities provider’s stock after selling 8,577 shares during the period. Moors & Cabot Inc.’s holdings in NextEra Energy were worth $13,375,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Goodman Advisory Group LLC acquired a new position in shares of NextEra Energy in the 2nd quarter worth approximately $25,000. Tripletail Wealth Management LLC acquired a new stake in NextEra Energy during the 3rd quarter valued at $25,000. Howard Hughes Medical Institute bought a new position in NextEra Energy in the 2nd quarter valued at $31,000. Rexford Capital Inc. bought a new position in NextEra Energy in the 2nd quarter valued at $34,000. Finally, Abound Wealth Management boosted its stake in NextEra Energy by 108.2% in the third quarter. Abound Wealth Management now owns 456 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 237 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NEE shares. Weiss Ratings lowered NextEra Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, February 17th. Wolfe Research increased their price objective on shares of NextEra Energy from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Monday, December 1st. BMO Capital Markets set a $95.00 price objective on shares of NextEra Energy in a research report on Thursday, January 29th. Erste Group Bank raised shares of NextEra Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 18th. Finally, UBS Group increased their price target on shares of NextEra Energy from $91.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.16.

NextEra Energy Stock Performance

NextEra Energy stock opened at $92.87 on Tuesday. The company has a market cap of $193.49 billion, a PE ratio of 28.23 and a beta of 0.76. The company has a current ratio of 0.60, a quick ratio of 0.49 and a debt-to-equity ratio of 1.35. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $95.91. The company’s 50-day moving average is $88.65 and its two-hundred day moving average is $83.10.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Tuesday, January 27th. The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $7.07 billion. NextEra Energy had a net margin of 24.93% and a return on equity of 12.18%. NextEra Energy’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 EPS. Equities analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a dividend of $0.6232 per share. This represents a $2.49 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, February 27th. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.57. NextEra Energy’s dividend payout ratio is presently 75.68%.

Insider Buying and Selling

In other NextEra Energy news, EVP Terrell Kirk Crews II sold 19,672 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $90.27, for a total value of $1,775,791.44. Following the transaction, the executive vice president owned 73,857 shares of the company’s stock, valued at approximately $6,667,071.39. This represents a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ronald R. Reagan sold 18,620 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $90.00, for a total value of $1,675,800.00. Following the transaction, the executive vice president owned 9,643 shares in the company, valued at approximately $867,870. This trade represents a 65.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 190,816 shares of company stock worth $17,075,619 over the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

About NextEra Energy

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.