Mechanics Financial Corp Has $1.58 Million Holdings in NextEra Energy, Inc. (NYSE:NEE)

Mechanics Financial Corp decreased its position in NextEra Energy, Inc. (NYSE:NEE) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,638 shares of the utilities provider’s stock after selling 295 shares during the quarter. Mechanics Financial Corp’s holdings in NextEra Energy were worth $1,575,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NEE. Atlanta Consulting Group Advisors LLC grew its holdings in shares of NextEra Energy by 6.8% during the third quarter. Atlanta Consulting Group Advisors LLC now owns 6,976 shares of the utilities provider’s stock worth $590,000 after buying an additional 443 shares in the last quarter. River Street Advisors LLC raised its holdings in shares of NextEra Energy by 4.3% in the third quarter. River Street Advisors LLC now owns 13,797 shares of the utilities provider’s stock valued at $1,166,000 after purchasing an additional 563 shares during the last quarter. Turtle Creek Wealth Advisors LLC lifted its position in shares of NextEra Energy by 10.7% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 8,147 shares of the utilities provider’s stock worth $689,000 after purchasing an additional 788 shares in the last quarter. Heritage Investment Group Inc. grew its position in NextEra Energy by 3.1% in the third quarter. Heritage Investment Group Inc. now owns 5,560 shares of the utilities provider’s stock valued at $470,000 after purchasing an additional 168 shares in the last quarter. Finally, KPP Advisory Services LLC increased its stake in NextEra Energy by 10.6% in the 3rd quarter. KPP Advisory Services LLC now owns 11,513 shares of the utilities provider’s stock valued at $973,000 after buying an additional 1,105 shares during the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

Wall Street Analyst Weigh In

NEE has been the subject of several recent research reports. Royal Bank of Canada cut NextEra Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Scotiabank increased their price objective on NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Barclays upped their price target on shares of NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Bank of America boosted their price objective on shares of NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, BMO Capital Markets raised their target price on shares of NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, NextEra Energy has an average rating of “Hold” and an average target price of $86.54.

Insider Buying and Selling

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,007 shares of NextEra Energy stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $75.57, for a total value of $302,808.99. Following the completion of the transaction, the executive vice president now directly owns 15,792 shares of the company’s stock, valued at $1,193,401.44. The trade was a 20.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

NextEra Energy Trading Up 1.4 %

Shares of NYSE:NEE opened at $76.35 on Friday. NextEra Energy, Inc. has a 12-month low of $53.95 and a 12-month high of $86.10. The business has a 50 day moving average of $81.53 and a 200-day moving average of $77.48. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.11. The stock has a market cap of $157.01 billion, a PE ratio of 22.59, a P/E/G ratio of 2.76 and a beta of 0.57.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. The business had revenue of $7.57 billion during the quarter, compared to the consensus estimate of $8.11 billion. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 EPS. As a group, equities research analysts forecast that NextEra Energy, Inc. will post 3.41 earnings per share for the current year.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be paid a $0.515 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.06 annualized dividend and a dividend yield of 2.70%. NextEra Energy’s dividend payout ratio (DPR) is presently 60.95%.

About NextEra Energy

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.