Clark Capital Management Group Inc. Lowers Holdings in NextEra Energy, Inc. $NEE

Clark Capital Management Group Inc. trimmed its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 66.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,868 shares of the utilities provider’s stock after selling 29,140 shares during the period. Clark Capital Management Group Inc.’s holdings in NextEra Energy were worth $1,122,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Goodman Advisory Group LLC purchased a new stake in NextEra Energy in the 2nd quarter worth approximately $25,000. Tripletail Wealth Management LLC purchased a new position in shares of NextEra Energy during the 3rd quarter valued at approximately $25,000. Howard Hughes Medical Institute purchased a new position in shares of NextEra Energy during the 2nd quarter valued at approximately $31,000. Rexford Capital Inc. acquired a new position in shares of NextEra Energy in the 2nd quarter valued at $34,000. Finally, Abound Wealth Management lifted its stake in shares of NextEra Energy by 108.2% in the 3rd quarter. Abound Wealth Management now owns 456 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 237 shares during the period. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Stock Performance

NYSE:NEE opened at $92.87 on Tuesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.49 and a current ratio of 0.60. The stock has a market capitalization of $193.49 billion, a PE ratio of 28.23 and a beta of 0.76. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $95.91. The company has a fifty day moving average of $88.65 and a two-hundred day moving average of $83.10.

NextEra Energy (NYSE:NEE) last announced its earnings results on Tuesday, January 27th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $6.50 billion for the quarter, compared to analyst estimates of $7.07 billion. NextEra Energy had a net margin of 24.93% and a return on equity of 12.18%. 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 business earned $0.53 earnings per share. As a group, research analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were issued a $0.6232 dividend. This represents a $2.49 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, February 27th. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.57. NextEra Energy’s payout ratio is presently 75.68%.

Wall Street Analyst Weigh In

NEE has been the topic of several analyst reports. Wall Street Zen upgraded shares of NextEra Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. UBS Group upped their price objective on shares of NextEra Energy from $91.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Morgan Stanley reissued an “overweight” rating and set a $106.00 target price on shares of NextEra Energy in a research note on Friday, February 20th. Seaport Research Partners dropped their target price on NextEra Energy from $56.00 to $55.00 and set a “sell” rating on the stock in a research report on Monday, February 2nd. Finally, Barclays lifted their price target on NextEra Energy from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.16.

Insider Activity at NextEra Energy

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,934 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $93.00, for a total transaction of $458,862.00. Following the completion of the sale, the executive vice president directly owned 16,905 shares in the company, valued at approximately $1,572,165. The trade was a 22.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Treasurer James Michael May sold 7,161 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $90.27, for a total value of $646,423.47. Following the transaction, the treasurer directly owned 26,719 shares of the company’s stock, valued at $2,411,924.13. The trade was a 21.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 190,816 shares of company stock worth $17,075,619 in the last quarter. Corporate insiders own 0.20% of the company’s stock.

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.