Shikiar Asset Management Inc. Sells 8,340 Shares of NextEra Energy, Inc. $NEE

Shikiar Asset Management Inc. trimmed its stake in NextEra Energy, Inc. (NYSE:NEE) by 7.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,718 shares of the utilities provider’s stock after selling 8,340 shares during the period. NextEra Energy comprises about 1.9% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 19th largest position. Shikiar Asset Management Inc.’s holdings in NextEra Energy were worth $7,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Activest Wealth Management increased its position in shares of NextEra Energy by 79.7% during the 2nd quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 157 shares in the last quarter. Harbor Asset Planning Inc. bought a new stake in NextEra Energy during the second quarter worth about $25,000. Goodman Advisory Group LLC bought a new stake in NextEra Energy during the second quarter worth about $25,000. 1 North Wealth Services LLC acquired a new stake in shares of NextEra Energy during the first quarter worth approximately $26,000. Finally, Quaker Wealth Management LLC raised its stake in shares of NextEra Energy by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 386 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 772 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NEE has been the topic of a number of research analyst reports. TD Cowen began coverage on NextEra Energy in a research report on Thursday, October 16th. They set a “buy” rating and a $98.00 price target on the stock. JPMorgan Chase & Co. increased their target price on NextEra Energy from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, December 11th. HSBC lifted their price target on NextEra Energy from $94.00 to $95.00 in a report on Monday, November 10th. New Street Research set a $84.00 price target on shares of NextEra Energy in a research report on Monday, October 13th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $93.00 target price on shares of NextEra Energy in a research note on Tuesday, October 28th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, NextEra Energy has an average rating of “Moderate Buy” and an average price target of $91.56.

Insider Transactions at NextEra Energy

In related news, EVP Mark Lemasney sold 846 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the transaction, the executive vice president owned 9,267 shares in the company, valued at approximately $694,098.30. The trade was a 8.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Armando Pimentel, Jr. sold 145,140 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $83.91, for a total transaction 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. The trade was a 47.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 157,322 shares of company stock worth $13,148,943. 0.18% of the stock is currently owned by company insiders.

NextEra Energy Trading Up 0.7%

Shares of NYSE NEE opened at $80.08 on Tuesday. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $87.53. The firm has a market capitalization of $166.77 billion, a P/E ratio of 25.50, a P/E/G ratio of 2.67 and a beta of 0.74. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.55 and a quick ratio of 0.45. The company’s 50 day simple moving average is $83.35 and its 200 day simple moving average is $77.11.

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

NextEra Energy Dividend Announcement

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

About NextEra Energy

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.