Abbrea Capital LLC Decreases Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Abbrea Capital LLC cut its holdings in NextEra Energy, Inc. (NYSE:NEE) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,496 shares of the utilities provider’s stock after selling 3,726 shares during the period. Abbrea Capital LLC’s holdings in NextEra Energy were worth $3,128,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Fund Management LLC raised its stake in NextEra Energy by 272.3% in the 3rd quarter. Royal Fund Management LLC now owns 11,373 shares of the utilities provider’s stock valued at $652,000 after purchasing an additional 8,318 shares during the last quarter. Strategic Blueprint LLC raised its stake in NextEra Energy by 11.7% in the 3rd quarter. Strategic Blueprint LLC now owns 12,504 shares of the utilities provider’s stock valued at $716,000 after purchasing an additional 1,308 shares during the last quarter. Richelieu Gestion SA raised its stake in NextEra Energy by 6.7% in the 3rd quarter. Richelieu Gestion SA now owns 45,397 shares of the utilities provider’s stock valued at $2,601,000 after purchasing an additional 2,847 shares during the last quarter. Caprock Group LLC raised its stake in NextEra Energy by 17.3% in the 3rd quarter. Caprock Group LLC now owns 18,447 shares of the utilities provider’s stock valued at $1,057,000 after purchasing an additional 2,714 shares during the last quarter. Finally, Marion Wealth Management increased its stake in shares of NextEra Energy by 5.8% during the 3rd quarter. Marion Wealth Management now owns 15,721 shares of the utilities provider’s stock valued at $901,000 after acquiring an additional 865 shares during the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of NextEra Energy from $84.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $74.00 target price on shares of NextEra Energy in a report on Tuesday, January 30th. BMO Capital Markets boosted their target price on NextEra Energy from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday. Mizuho boosted their target price on NextEra Energy from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays started coverage on NextEra Energy in a report on Wednesday, April 10th. They set an “equal weight” rating and a $66.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.50.

NextEra Energy Stock Performance

Shares of NEE stock traded down $0.91 on Friday, hitting $65.99. 9,663,095 shares of the stock traded hands, compared to its average volume of 11,908,358. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.51 and a quick ratio of 0.47. The company has a market capitalization of $135.58 billion, a PE ratio of 18.23, a PEG ratio of 2.45 and a beta of 0.51. NextEra Energy, Inc. has a 1-year low of $47.15 and a 1-year high of $78.53. The company’s fifty day moving average is $60.67 and its 200 day moving average is $58.94.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.28 billion. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. The business’s revenue was down 14.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. On average, equities research analysts predict that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.12%. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, February 26th. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

NextEra Energy Company 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.