Cannell & Spears LLC Sells 7,385 Shares of NextEra Energy, Inc. $NEE

Cannell & Spears LLC decreased its stake in NextEra Energy, Inc. (NYSE:NEE) by 25.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,357 shares of the utilities provider’s stock after selling 7,385 shares during the period. Cannell & Spears LLC’s holdings in NextEra Energy were worth $1,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NEE. Wedbush Securities Inc. grew its holdings in NextEra Energy by 24.8% during the 3rd quarter. Wedbush Securities Inc. now owns 64,158 shares of the utilities provider’s stock worth $4,843,000 after acquiring an additional 12,738 shares during the period. Varma Mutual Pension Insurance Co raised its position in shares of NextEra Energy by 5.0% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 326,193 shares of the utilities provider’s stock worth $24,624,000 after acquiring an additional 15,600 shares in the last quarter. National Pension Service lifted its stake in shares of NextEra Energy by 1.3% in the 3rd quarter. National Pension Service now owns 4,845,447 shares of the utilities provider’s stock valued at $365,783,000 after purchasing an additional 60,324 shares during the period. Synergy Asset Management LLC boosted its position in shares of NextEra Energy by 286.0% during the 3rd quarter. Synergy Asset Management LLC now owns 22,028 shares of the utilities provider’s stock valued at $1,594,000 after purchasing an additional 16,322 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of NextEra Energy by 61.8% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 60,985 shares of the utilities provider’s stock valued at $4,604,000 after purchasing an additional 23,288 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NEE has been the subject of a number of research analyst reports. Barclays lifted their target price on NextEra Energy from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 15th. The Goldman Sachs Group increased their price target on NextEra Energy from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. HSBC raised their price objective on shares of NextEra Energy from $96.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Jefferies Financial Group set a $87.00 target price on shares of NextEra Energy in a research report on Wednesday, January 14th. Finally, Mizuho set a $90.00 target price on shares of NextEra Energy and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.16.

NextEra Energy Stock Up 1.2%

NEE stock opened at $92.81 on Monday. The stock’s 50 day simple moving average is $88.42 and its 200 day simple moving average is $82.95. The company has a market cap of $193.38 billion, a P/E ratio of 28.21 and a beta of 0.75. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.49 and a current ratio of 0.60. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $95.91.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Tuesday, January 27th. The utilities provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $7.07 billion. NextEra Energy had a return on equity of 12.18% and a net margin of 24.93%.The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. On average, research analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a $0.6232 dividend. This represents a $2.49 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, February 27th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.57. NextEra Energy’s payout ratio is 75.68%.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, EVP Charles E. Sieving sold 30,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $90.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the executive vice president owned 167,481 shares in the company, valued at approximately $15,073,290. The trade was a 15.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John W. Ketchum sold 99,603 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $89.34, for a total transaction of $8,898,532.02. Following the completion of the transaction, the chief executive officer directly owned 305,933 shares in the company, valued at $27,332,054.22. This trade represents a 24.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 185,882 shares of company stock worth $16,616,757 in the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

NextEra Energy Profile

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.