Cornerstone Wealth Group LLC Has $1.77 Million Stake in NextEra Energy, Inc. $NEE

Cornerstone Wealth Group LLC cut its position in NextEra Energy, Inc. (NYSE:NEE) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,520 shares of the utilities provider’s stock after selling 404 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in NextEra Energy were worth $1,772,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Community Bank N.A. raised its position in shares of NextEra Energy by 2.7% in the 2nd quarter. Community Bank N.A. now owns 58,465 shares of the utilities provider’s stock valued at $4,059,000 after buying an additional 1,533 shares in the last quarter. Heartland Bank & Trust Co acquired a new position in shares of NextEra Energy in the 2nd quarter valued at approximately $352,000. NorthRock Partners LLC raised its position in shares of NextEra Energy by 0.8% in the 2nd quarter. NorthRock Partners LLC now owns 27,782 shares of the utilities provider’s stock valued at $1,929,000 after buying an additional 234 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of NextEra Energy by 1.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 272,659 shares of the utilities provider’s stock valued at $18,928,000 after buying an additional 5,059 shares in the last quarter. Finally, Delaney Dennis R raised its position in shares of NextEra Energy by 34.3% in the 2nd quarter. Delaney Dennis R now owns 5,090 shares of the utilities provider’s stock valued at $353,000 after buying an additional 1,300 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other NextEra Energy news, EVP Charles E. Sieving sold 11,336 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total transaction of $906,880.00. Following the sale, the executive vice president directly owned 167,481 shares of the company’s stock, valued at $13,398,480. The trade was a 6.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert Coffey sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $71.84, for a total transaction of $538,800.00. Following the sale, the executive vice president directly owned 26,539 shares in the company, valued at $1,906,561.76. The trade was a 22.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,705 shares of company stock worth $2,446,490. Company insiders own 0.18% of the company’s stock.

NextEra Energy Trading Up 1.1%

Shares of NextEra Energy stock opened at $84.25 on Tuesday. The firm has a market capitalization of $173.49 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 2.82 and a beta of 0.66. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. The firm’s 50 day moving average is $74.47 and its 200 day moving average is $71.85. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $86.00.

NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period in the previous year, the firm posted $0.96 EPS. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities research analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 28th were issued a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 28th. NextEra Energy’s payout ratio is presently 79.37%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NEE. New Street Research set a $84.00 target price on shares of NextEra Energy in a research report on Monday. Morgan Stanley reaffirmed an “overweight” rating and set a $95.00 price target (down from $96.00) on shares of NextEra Energy in a report on Thursday, September 25th. Melius Research raised shares of NextEra Energy to a “strong-buy” rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. lifted their price target on shares of NextEra Energy from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, August 22nd. Finally, Melius assumed coverage on shares of NextEra Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $77.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

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.