Montecito Bank & Trust Invests $1.17 Million in NextEra Energy, Inc. $NEE

Montecito Bank & Trust acquired a new stake in NextEra Energy, Inc. (NYSE:NEE) in the third quarter, Holdings Channel reports. The firm acquired 15,482 shares of the utilities provider’s stock, valued at approximately $1,169,000.

Other large investors have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. lifted its holdings in NextEra Energy by 6.4% during the 3rd quarter. New Covenant Trust Company N.A. now owns 5,157 shares of the utilities provider’s stock worth $389,000 after buying an additional 308 shares in the last quarter. Lynch & Associates IN increased its position in shares of NextEra Energy by 0.8% during the third quarter. Lynch & Associates IN now owns 60,056 shares of the utilities provider’s stock worth $4,534,000 after acquiring an additional 460 shares during the period. StrongBox Wealth LLC raised its stake in shares of NextEra Energy by 6.1% in the third quarter. StrongBox Wealth LLC now owns 75,409 shares of the utilities provider’s stock valued at $5,693,000 after acquiring an additional 4,354 shares in the last quarter. Spring Capital Management LLC boosted its holdings in NextEra Energy by 2.9% in the third quarter. Spring Capital Management LLC now owns 84,668 shares of the utilities provider’s stock valued at $6,392,000 after purchasing an additional 2,374 shares during the period. Finally, Ransom Advisory Ltd boosted its holdings in NextEra Energy by 7.6% in the third quarter. Ransom Advisory Ltd now owns 28,320 shares of the utilities provider’s stock valued at $2,138,000 after purchasing an additional 2,000 shares during the period. 78.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NEE has been the topic of a number of analyst reports. Cowen initiated coverage on NextEra Energy in a research report on Wednesday, October 15th. They issued a “buy” rating on the stock. New Street Research set a $84.00 target price on shares of NextEra Energy in a research note on Monday, October 13th. BTIG Research reiterated a “buy” rating and issued a $100.00 price target on shares of NextEra Energy in a research note on Tuesday, December 9th. Evercore ISI reiterated an “outperform” rating and set a $93.00 price target on shares of NextEra Energy in a report on Tuesday, October 28th. Finally, Wells Fargo & Company upgraded shares of NextEra Energy to a “strong-buy” rating in a report on Tuesday, October 28th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.56.

Insider Buying and Selling at NextEra Energy

In related news, CEO Armando Pimentel, Jr. sold 145,140 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $83.91, for a total value of $12,178,697.40. Following the completion of the sale, the chief executive officer directly owned 162,693 shares of the company’s stock, valued at $13,651,569.63. This represents a 47.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles E. Sieving sold 11,336 shares of NextEra Energy stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $80.00, for a total value of $906,880.00. Following the transaction, the executive vice president directly owned 167,481 shares in the company, valued at approximately $13,398,480. This trade represents a 6.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 157,322 shares of company stock worth $13,148,943 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

NextEra Energy Stock Performance

Shares of NextEra Energy stock opened at $80.85 on Friday. The firm has a market capitalization of $168.37 billion, a P/E ratio of 25.75, a P/E/G ratio of 2.70 and a beta of 0.74. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $87.53. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.30. The firm’s 50 day moving average is $83.50 and its two-hundred day moving average is $76.89.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.09. NextEra Energy had a net margin of 24.72% and a return on equity of 12.42%. The business had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. Research analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 21st were given a $0.5665 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $2.27 dividend on an annualized basis and a yield of 2.8%. NextEra Energy’s payout ratio is 72.29%.

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.