Pinnacle Associates Ltd. Cuts Stake in NextEra Energy, Inc. (NYSE:NEE)

Pinnacle Associates Ltd. cut its holdings in NextEra Energy, Inc. (NYSE:NEE) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,919 shares of the utilities provider’s stock after selling 21,228 shares during the period. Pinnacle Associates Ltd.’s holdings in NextEra Energy were worth $20,365,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Taylor & Morgan Wealth Management LLC grew its stake in NextEra Energy by 1.7% during the third quarter. Taylor & Morgan Wealth Management LLC now owns 7,744 shares of the utilities provider’s stock valued at $655,000 after acquiring an additional 126 shares in the last quarter. Insight Folios Inc increased its holdings in shares of NextEra Energy by 1.5% in the third quarter. Insight Folios Inc now owns 8,439 shares of the utilities provider’s stock worth $713,000 after purchasing an additional 126 shares during the last quarter. Osborne Partners Capital Management LLC lifted its position in shares of NextEra Energy by 1.2% in the third quarter. Osborne Partners Capital Management LLC now owns 10,724 shares of the utilities provider’s stock worth $906,000 after buying an additional 128 shares in the last quarter. Boston Trust Walden Corp grew its holdings in NextEra Energy by 0.4% during the 3rd quarter. Boston Trust Walden Corp now owns 30,720 shares of the utilities provider’s stock valued at $2,597,000 after buying an additional 130 shares in the last quarter. Finally, Sycomore Asset Management increased its stake in NextEra Energy by 0.3% in the 2nd quarter. Sycomore Asset Management now owns 47,341 shares of the utilities provider’s stock worth $3,473,000 after acquiring an additional 131 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 a number of recent research reports. JPMorgan Chase & Co. raised their target price on shares of NextEra Energy from $91.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Barclays boosted their target price on shares of NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Morgan Stanley increased their price target on shares of NextEra Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Jefferies Financial Group started coverage on NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 price objective for the company. Finally, BMO Capital Markets increased their price target on NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, NextEra Energy presently has an average rating of “Hold” and an average target price of $86.54.

NextEra Energy Stock Down 0.5 %

Shares of NextEra Energy stock traded down $0.36 on Wednesday, reaching $79.20. The stock had a trading volume of 3,240,608 shares, compared to its average volume of 10,728,516. NextEra Energy, Inc. has a 1 year low of $53.81 and a 1 year high of $86.10. The company has a 50 day moving average price of $82.44 and a 200 day moving average price of $76.53. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $162.72 billion, a P/E ratio of 21.68, a P/E/G ratio of 3.03 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. The firm had revenue of $7.57 billion during the quarter, compared to analyst estimates of $8.11 billion. During the same quarter in the prior year, the business posted $0.94 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities research analysts forecast that NextEra Energy, Inc. will post 3.4 EPS for the current year.

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

Insider Buying and Selling

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $76.97, for a total transaction of $50,646.26. Following the sale, the executive vice president now directly owns 100 shares of the company’s stock, valued at approximately $7,697. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by corporate 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.