Wendell David Associates Inc. Decreases Stock Position in NextEra Energy, Inc. $NEE

Wendell David Associates Inc. cut its holdings in NextEra Energy, Inc. (NYSE:NEE) by 2.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 248,261 shares of the utilities provider’s stock after selling 5,210 shares during the quarter. NextEra Energy makes up about 1.7% of Wendell David Associates Inc.’s holdings, making the stock its 16th largest holding. Wendell David Associates Inc.’s holdings in NextEra Energy were worth $17,234,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of NextEra Energy by 7.0% in the fourth quarter. Brighton Jones LLC now owns 28,282 shares of the utilities provider’s stock worth $2,028,000 after purchasing an additional 1,840 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of NextEra Energy by 6.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,854 shares of the utilities provider’s stock worth $348,000 after purchasing an additional 298 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of NextEra Energy by 20.7% in the first quarter. GAMMA Investing LLC now owns 34,681 shares of the utilities provider’s stock worth $2,459,000 after purchasing an additional 5,949 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of NextEra Energy by 5.5% in the first quarter. Exchange Traded Concepts LLC now owns 4,390 shares of the utilities provider’s stock worth $311,000 after purchasing an additional 228 shares during the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of NextEra Energy by 1.6% in the first quarter. Boston Trust Walden Corp now owns 32,004 shares of the utilities provider’s stock worth $2,269,000 after purchasing an additional 500 shares during the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Stock Down 0.7%

Shares of NEE opened at $84.48 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.74. The stock’s 50 day moving average is $75.54 and its two-hundred day moving average is $72.24. The firm has a market cap of $173.97 billion, a P/E ratio of 29.54, a PEG ratio of 2.85 and a beta of 0.66.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period last year, the company earned $0.96 earnings per share. NextEra Energy’s quarterly revenue was up 10.4% compared to the same quarter last year. Analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 28th were issued a $0.5665 dividend. This represents a $2.27 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 28th. NextEra Energy’s dividend payout ratio (DPR) is presently 79.37%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NEE. JPMorgan Chase & Co. raised their price objective on NextEra Energy from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, August 22nd. Melius Research upgraded NextEra Energy to a “strong-buy” rating in a research note on Wednesday, August 20th. HSBC dropped their target price on NextEra Energy from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Friday, July 11th. Evercore ISI set a $92.00 target price on NextEra Energy and gave the stock an “outperform” rating in a report on Monday, October 6th. Finally, Melius started coverage on NextEra Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $77.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.40.

Insider Buying and Selling

In other NextEra Energy news, EVP Mark Lemasney sold 846 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total value of $63,365.40. Following the sale, the executive vice president directly owned 9,267 shares of the company’s stock, valued at approximately $694,098.30. This trade represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles E. Sieving sold 11,336 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total value of $906,880.00. Following the completion of the sale, the executive vice president directly owned 167,481 shares in the company, valued at approximately $13,398,480. The trade was a 6.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,705 shares of company stock valued at $2,446,490 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

NextEra Energy 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.