Adell Harriman & Carpenter Inc. Trims Position in NextEra Energy, Inc. (NYSE:NEE)

Adell Harriman & Carpenter Inc. decreased its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 30.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,006 shares of the utilities provider’s stock after selling 27,506 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in NextEra Energy were worth $3,888,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of NextEra Energy by 1.0% during the third quarter. Vanguard Group Inc. now owns 198,430,172 shares of the utilities provider’s stock worth $11,368,065,000 after purchasing an additional 1,956,153 shares in the last quarter. Northern Trust Corp grew its holdings in shares of NextEra Energy by 2.0% during the third quarter. Northern Trust Corp now owns 22,982,250 shares of the utilities provider’s stock worth $1,316,653,000 after purchasing an additional 455,271 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of NextEra Energy by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,352,695 shares of the utilities provider’s stock worth $593,106,000 after purchasing an additional 148,674 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of NextEra Energy by 2.4% during the third quarter. California Public Employees Retirement System now owns 9,026,464 shares of the utilities provider’s stock worth $517,126,000 after purchasing an additional 209,584 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of NextEra Energy by 59.1% during the third quarter. Nordea Investment Management AB now owns 5,784,080 shares of the utilities provider’s stock worth $337,096,000 after purchasing an additional 2,148,205 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

NEE stock traded up $1.43 during trading on Monday, reaching $67.42. The stock had a trading volume of 9,715,756 shares, compared to its average volume of 11,885,517. NextEra Energy, Inc. has a 52 week low of $47.15 and a 52 week high of $78.53. The stock’s 50 day moving average is $60.85 and its two-hundred day moving average is $59.15. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.12. The firm has a market cap of $138.52 billion, a PE ratio of 17.98, a PEG ratio of 2.43 and a beta of 0.51.

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

NextEra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were paid a $0.515 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $2.06 annualized dividend and a dividend yield of 3.06%. This is an increase from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NEE shares. StockNews.com upgraded NextEra Energy from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd. Bank of America boosted their target price on NextEra Energy from $61.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 23rd. Scotiabank boosted their target price on NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Monday, April 22nd. 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 research report on Thursday. Finally, Guggenheim boosted their target price on NextEra Energy from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, NextEra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.50.

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.