Pitcairn Co. Sells 6,640 Shares of NextEra Energy, Inc. $NEE

Pitcairn Co. reduced its stake in NextEra Energy, Inc. (NYSE:NEE) by 21.8% during the 3rd quarter, Holdings Channel reports. The fund owned 23,808 shares of the utilities provider’s stock after selling 6,640 shares during the period. Pitcairn Co.’s holdings in NextEra Energy were worth $1,797,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. BTIG Research reiterated a “buy” rating and set a $103.00 price objective on shares of NextEra Energy in a research report on Wednesday, January 28th. HSBC boosted their target price on shares of NextEra Energy from $96.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Erste Group Bank upgraded shares of NextEra Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 18th. Jefferies Financial Group set a $87.00 price objective on shares of NextEra Energy in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company increased their target price on shares of NextEra Energy from $97.00 to $98.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.16.

Insider Buying and Selling at NextEra Energy

In other news, EVP Ronald R. Reagan sold 18,620 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $90.00, for a total transaction of $1,675,800.00. Following the completion of the transaction, the executive vice president owned 9,643 shares of the company’s stock, valued at approximately $867,870. The trade was a 65.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John W. Ketchum sold 99,603 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $89.34, for a total value of $8,898,532.02. Following the sale, the chief executive officer owned 305,933 shares of the company’s stock, valued at approximately $27,332,054.22. This represents a 24.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 159,049 shares of company stock valued at $14,194,542. 0.20% of the stock is currently owned by corporate insiders.

NextEra Energy Trading Down 0.1%

Shares of NextEra Energy stock opened at $91.03 on Friday. The company has a market capitalization of $189.66 billion, a price-to-earnings ratio of 27.67 and a beta of 0.76. The company has a quick ratio of 0.49, a current ratio of 0.60 and a debt-to-equity ratio of 1.35. NextEra Energy, Inc. has a 12-month low of $61.72 and a 12-month high of $95.91. The firm’s 50-day moving average price is $87.27 and its two-hundred day moving average price is $82.28.

NextEra Energy (NYSE:NEE) last released its earnings results on Tuesday, January 27th. The utilities provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $6.50 billion for the quarter, compared to analyst estimates of $7.07 billion. NextEra Energy had a net margin of 24.93% and a return on equity of 12.18%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. On average, analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a $0.6232 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.49 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.57. NextEra Energy’s dividend payout ratio (DPR) is 75.68%.

NextEra Energy Company Profile

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.