Studio Investment Management LLC Trims Holdings in NextEra Energy, Inc. (NYSE:NEE)

Studio Investment Management LLC trimmed its position in NextEra Energy, Inc. (NYSE:NEE) by 2.3% in the 4th quarter, HoldingsChannel reports. The fund owned 90,910 shares of the utilities provider’s stock after selling 2,159 shares during the quarter. NextEra Energy makes up about 1.4% of Studio Investment Management LLC’s holdings, making the stock its 15th largest holding. Studio Investment Management LLC’s holdings in NextEra Energy were worth $6,517,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NEE. Sugar Maple Asset Management LLC purchased a new position in shares of NextEra Energy in the fourth quarter valued at $28,000. Bellwether Advisors LLC purchased a new position in shares of NextEra Energy in the fourth quarter valued at $30,000. WealthTrak Capital Management LLC purchased a new position in shares of NextEra Energy in the fourth quarter valued at $33,000. Luken Investment Analytics LLC purchased a new position in shares of NextEra Energy in the fourth quarter valued at $36,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of NextEra Energy in the fourth quarter valued at $44,000. 78.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO James Michael May sold 2,383 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total value of $162,258.47. Following the completion of the sale, the chief accounting officer now directly owns 27,427 shares in the company, valued at $1,867,504.43. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles E. Sieving sold 23,684 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the completion of the sale, the executive vice president now owns 196,817 shares of the company’s stock, valued at $13,777,190. This trade represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Erste Group Bank downgraded NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Wells Fargo & Company lowered their price target on NextEra Energy from $102.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Guggenheim restated a “buy” rating and issued a $89.00 price target on shares of NextEra Energy in a research report on Thursday, March 20th. Evercore ISI lowered their price target on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their price target on NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, NextEra Energy currently has an average rating of “Hold” and an average price target of $83.46.

NextEra Energy Stock Up 0.6%

NEE stock opened at $74.97 on Friday. The firm’s fifty day simple moving average is $68.72 and its 200-day simple moving average is $71.31. The company has a market capitalization of $154.34 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 2.45 and a beta of 0.69. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.47 and a quick ratio of 0.38. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.10.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.99. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. The firm had revenue of $6.25 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, equities research analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

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.