Corbyn Investment Management Inc. MD Lowers Position in NextEra Energy, Inc. (NYSE:NEE)

Corbyn Investment Management Inc. MD trimmed its holdings in NextEra Energy, Inc. (NYSE:NEE) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,203 shares of the utilities provider’s stock after selling 978 shares during the period. NextEra Energy comprises about 1.7% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 22nd biggest position. Corbyn Investment Management Inc. MD’s holdings in NextEra Energy were worth $3,657,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NEE. BOK Financial Private Wealth Inc. bought a new stake in NextEra Energy during the fourth quarter worth approximately $29,000. Rakuten Securities Inc. acquired a new position in shares of NextEra Energy in the 4th quarter valued at $34,000. Alaska Permanent Fund Corp grew its position in NextEra Energy by 59.8% during the 3rd quarter. Alaska Permanent Fund Corp now owns 556 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 208 shares during the period. Valued Wealth Advisors LLC purchased a new stake in shares of NextEra Energy during the 4th quarter worth about $34,000. Finally, HBC Financial Services PLLC purchased a new position in NextEra Energy in the 4th quarter valued at about $36,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Trading Down 1.3 %

Shares of NYSE:NEE traded down $0.84 during mid-day trading on Friday, reaching $66.06. The stock had a trading volume of 4,021,985 shares, compared to its average volume of 11,835,740. The firm has a market cap of $135.72 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 2.45 and a beta of 0.51. The firm has a 50 day simple moving average of $60.67 and a two-hundred day simple moving average of $58.94. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. NextEra Energy, Inc. has a twelve month low of $47.15 and a twelve month high of $78.53.

NextEra Energy (NYSE:NEE) last released its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The business had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same period last year, the business earned $0.84 earnings per share. The firm’s revenue was down 14.7% on a year-over-year basis. On average, research analysts predict that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 3.12%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, February 26th. NextEra Energy’s payout ratio is 56.13%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Scotiabank raised their target price on shares of NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Monday. Barclays started coverage on shares of NextEra Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $66.00 target price for the company. Morgan Stanley increased their price target on shares of NextEra Energy from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday. Guggenheim increased their target price on shares of NextEra Energy from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Finally, StockNews.com upgraded shares of NextEra Energy from a “sell” rating to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.50.

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.