Penobscot Investment Management Company Inc. Sells 4,976 Shares of NextEra Energy, Inc. (NYSE:NEE)

Penobscot Investment Management Company Inc. lowered its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 199,399 shares of the utilities provider’s stock after selling 4,976 shares during the period. NextEra Energy makes up about 1.4% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 17th biggest position. Penobscot Investment Management Company Inc.’s holdings in NextEra Energy were worth $12,111,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NEE. Field & Main Bank raised its stake in NextEra Energy by 5.7% during the 4th quarter. Field & Main Bank now owns 22,870 shares of the utilities provider’s stock worth $1,389,000 after buying an additional 1,240 shares during the period. Amica Mutual Insurance Co. increased its stake in NextEra Energy by 14.3% during the 4th quarter. Amica Mutual Insurance Co. now owns 116,011 shares of the utilities provider’s stock valued at $7,047,000 after purchasing an additional 14,549 shares in the last quarter. Ledyard National Bank lifted its stake in shares of NextEra Energy by 4.1% in the fourth quarter. Ledyard National Bank now owns 49,289 shares of the utilities provider’s stock valued at $2,994,000 after buying an additional 1,941 shares in the last quarter. Steele Capital Management Inc. acquired a new position in shares of NextEra Energy during the fourth quarter valued at about $506,000. Finally, Investment House LLC increased its position in shares of NextEra Energy by 6.6% during the fourth quarter. Investment House LLC now owns 21,250 shares of the utilities provider’s stock worth $1,291,000 after acquiring an additional 1,325 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Trading Down 0.2 %

Shares of NextEra Energy stock traded down $0.13 during midday trading on Tuesday, reaching $67.29. 3,023,217 shares of the company’s stock traded hands, compared to its average volume of 11,777,705. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.43 and a current ratio of 0.51. The stock has a 50 day moving average of $61.05 and a 200-day moving average of $59.25. The company has a market cap of $138.25 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.43 and a beta of 0.51. NextEra Energy, Inc. has a 12 month low of $47.15 and a 12 month high of $78.53.

NextEra Energy (NYSE:NEE) last announced its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The firm 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 posted $0.84 EPS. The company’s revenue for the quarter was down 14.7% compared to the same quarter last year. As a group, equities analysts expect that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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 annualized dividend and a dividend yield of 3.06%. 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%.

Analysts Set New Price Targets

NEE has been the topic of a number of recent research reports. Guggenheim raised their target price on NextEra Energy from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Royal Bank of Canada restated an “outperform” rating and set a $74.00 price target on shares of NextEra Energy in a research report on Tuesday, January 30th. Wells Fargo & Company increased their target price on shares of NextEra Energy from $84.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Mizuho increased their price objective on NextEra Energy from $67.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, StockNews.com raised shares of NextEra Energy from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.