Magellan Asset Management Ltd Cuts Stake in NextEra Energy, Inc. (NYSE:NEE)

Magellan Asset Management Ltd cut its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 16.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 372,467 shares of the utilities provider’s stock after selling 71,364 shares during the quarter. Magellan Asset Management Ltd’s holdings in NextEra Energy were worth $26,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in NEE. Burkett Financial Services LLC lifted its position in shares of NextEra Energy by 1,229.6% in the 4th quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 332 shares during the period. Sugar Maple Asset Management LLC bought a new stake in NextEra Energy in the 4th quarter worth approximately $28,000. Quarry LP purchased a new stake in NextEra Energy during the third quarter valued at $33,000. WealthTrak Capital Management LLC purchased a new position in shares of NextEra Energy in the fourth quarter worth approximately $33,000. Finally, Luken Investment Analytics LLC bought a new position in NextEra Energy in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Trading Down 0.6 %

NYSE:NEE opened at $70.46 on Thursday. NextEra Energy, Inc. has a 1 year low of $61.31 and a 1 year high of $86.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.38 and a current ratio of 0.47. The business has a fifty day moving average of $70.71 and a 200-day moving average of $74.87. The stock has a market cap of $144.94 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 2.45 and a beta of 0.58.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. Equities analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $0.5665 dividend. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Friday, February 28th. NextEra Energy’s dividend payout ratio (DPR) is currently 67.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NEE shares. Guggenheim reiterated a “buy” rating and issued a $89.00 price target on shares of NextEra Energy in a research note on Thursday, March 20th. JPMorgan Chase & Co. increased their target price on shares of NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. BMO Capital Markets lifted their target price on NextEra Energy from $82.00 to $84.00 in a research report on Monday, January 27th. Scotiabank increased their price objective on NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Finally, Jefferies Financial Group lowered their price target on shares of NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $85.92.

Insider Buying and Selling

In related news, CAO James Michael May sold 2,383 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total transaction of $162,258.47. Following the completion of the transaction, the chief accounting officer now directly owns 27,427 shares of the company’s stock, valued at approximately $1,867,504.43. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

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.