Channel Wealth LLC Lowers Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Channel Wealth LLC trimmed its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 62.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,244 shares of the utilities provider’s stock after selling 7,032 shares during the period. Channel Wealth LLC’s holdings in NextEra Energy were worth $304,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of NextEra Energy by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 42,418,748 shares of the utilities provider’s stock worth $3,571,650,000 after purchasing an additional 820,704 shares in the last quarter. Legal & General Group Plc increased its holdings in NextEra Energy by 0.7% in the second quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock valued at $1,508,155,000 after buying an additional 143,748 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of NextEra Energy by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,284,785 shares of the utilities provider’s stock valued at $1,122,963,000 after acquiring an additional 86,758 shares during the period. Nordea Investment Management AB boosted its stake in shares of NextEra Energy by 20.9% during the 4th quarter. Nordea Investment Management AB now owns 8,833,725 shares of the utilities provider’s stock worth $634,703,000 after acquiring an additional 1,525,436 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in NextEra Energy by 5.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,630,775 shares of the utilities provider’s stock valued at $729,559,000 after purchasing an additional 452,590 shares in the last quarter. 78.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays boosted their target price on NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. BMO Capital Markets lifted their price target on NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Jefferies Financial Group initiated coverage on shares of NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 price objective on the stock. Royal Bank of Canada cut shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Dbs Bank lowered shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy has an average rating of “Hold” and a consensus target price of $87.15.

Insider Transactions at NextEra Energy

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,007 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $75.57, for a total transaction of $302,808.99. Following the completion of the sale, the executive vice president now owns 15,792 shares of the company’s stock, valued at approximately $1,193,401.44. The trade was a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

NextEra Energy Trading Up 3.0 %

Shares of NextEra Energy stock opened at $71.39 on Friday. NextEra Energy, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $86.10. The business’s fifty day moving average is $73.68 and its two-hundred day moving average is $77.20. 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 firm has a market cap of $146.81 billion, a PE ratio of 21.12, a P/E/G ratio of 2.26 and a beta of 0.58.

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

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.