Truist Financial Corp Cuts Stake in NextEra Energy, Inc. (NYSE:NEE)

Truist Financial Corp reduced its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 26.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,857,670 shares of the utilities provider’s stock after selling 668,521 shares during the quarter. Truist Financial Corp owned about 0.09% of NextEra Energy worth $112,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Avitas Wealth Management LLC grew its holdings in shares of NextEra Energy by 2.9% in the fourth quarter. Avitas Wealth Management LLC now owns 37,843 shares of the utilities provider’s stock valued at $2,299,000 after purchasing an additional 1,057 shares in the last quarter. Stiles Financial Services Inc grew its holdings in shares of NextEra Energy by 9.0% in the fourth quarter. Stiles Financial Services Inc now owns 35,180 shares of the utilities provider’s stock valued at $2,137,000 after purchasing an additional 2,899 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in NextEra Energy by 1.7% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 383,932 shares of the utilities provider’s stock worth $21,995,000 after buying an additional 6,325 shares during the last quarter. Asio Capital LLC bought a new stake in NextEra Energy in the fourth quarter worth $2,701,000. Finally, Robertson Stephens Wealth Management LLC lifted its position in NextEra Energy by 7.3% in the third quarter. Robertson Stephens Wealth Management LLC now owns 17,714 shares of the utilities provider’s stock worth $1,015,000 after buying an additional 1,211 shares during the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Mizuho raised their price target on NextEra Energy from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company raised their price target on NextEra Energy from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Morgan Stanley raised their price target on NextEra Energy from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. BMO Capital Markets raised their price target on NextEra Energy from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Scotiabank lifted their target price on NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.50.

NextEra Energy Stock Down 1.4 %

Shares of NEE stock traded down $0.91 during trading hours on Friday, reaching $65.99. 9,982,762 shares of the company’s stock were exchanged, compared to its average volume of 10,921,297. NextEra Energy, Inc. has a 1 year low of $47.15 and a 1 year high of $78.53. The stock has a market cap of $135.58 billion, a PE ratio of 17.99, a PEG ratio of 2.46 and a beta of 0.51. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. The stock’s fifty day moving average price is $60.85 and its two-hundred day moving average price is $59.06.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The company’s revenue was down 14.7% on a year-over-year basis. Research analysts predict that NextEra Energy, Inc. will post 3.4 EPS for the current year.

NextEra Energy Increases Dividend

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

About NextEra Energy

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.