Quadcap Wealth Management LLC Lowers Position in NextEra Energy, Inc. (NYSE:NEE)

Quadcap Wealth Management LLC lessened its stake in NextEra Energy, Inc. (NYSE:NEE) by 20.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,268 shares of the utilities provider’s stock after selling 4,769 shares during the period. Quadcap Wealth Management LLC’s holdings in NextEra Energy were worth $1,310,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NEE. Norges Bank purchased a new stake in NextEra Energy in the 4th quarter worth approximately $3,484,197,000. Boston Partners purchased a new position in shares of NextEra Energy during the 4th quarter valued at approximately $244,169,000. Amundi lifted its position in shares of NextEra Energy by 49.8% during the 4th quarter. Amundi now owns 9,543,552 shares of the utilities provider’s stock valued at $676,008,000 after buying an additional 3,172,405 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of NextEra Energy by 46.7% during the 4th quarter. California Public Employees Retirement System now owns 7,910,346 shares of the utilities provider’s stock valued at $567,093,000 after buying an additional 2,517,369 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of NextEra Energy by 44.9% during the 4th quarter. Schroder Investment Management Group now owns 8,064,781 shares of the utilities provider’s stock valued at $578,164,000 after buying an additional 2,499,011 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NEE. Barclays decreased their target price on NextEra Energy from $73.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 29th. Guggenheim reissued a “buy” rating and issued a $89.00 price objective on shares of NextEra Energy in a research note on Thursday, March 20th. Evercore ISI reduced their price objective on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a research note on Monday, January 27th. Jefferies Financial Group reduced their price objective on NextEra Energy from $81.00 to $77.00 in a research note on Monday, January 27th. Finally, Erste Group Bank downgraded NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $83.46.

Insider Activity

In related news, EVP Charles E. Sieving sold 23,684 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the completion of the sale, the executive vice president now owns 196,817 shares in the company, valued at $13,777,190. The trade was a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO James Michael May sold 2,383 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total value of $162,258.47. Following the sale, the chief accounting officer now owns 27,427 shares of the company’s stock, valued at approximately $1,867,504.43. The trade was a 7.99% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

NextEra Energy Stock Up 0.2%

Shares of NYSE:NEE opened at $72.23 on Thursday. The business has a 50-day moving average price of $68.74 and a 200 day moving average price of $71.40. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $148.69 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 2.45 and a beta of 0.69. NextEra Energy, Inc. has a 12-month low of $61.72 and a 12-month high of $86.10.

NextEra Energy (NYSE:NEE) last announced its earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 EPS for the quarter, meeting analysts’ consensus estimates of $0.99. The company had revenue of $6.25 billion during the quarter, compared to analysts’ expectations of $6.58 billion. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. NextEra Energy’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the business posted $0.91 EPS. Sell-side analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. NextEra Energy’s dividend payout ratio (DPR) is presently 84.64%.

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.