Glen Eagle Advisors LLC Decreases Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Glen Eagle Advisors LLC trimmed its holdings in NextEra Energy, Inc. (NYSE:NEE) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,960 shares of the utilities provider’s stock after selling 479 shares during the period. NextEra Energy accounts for about 0.9% of Glen Eagle Advisors LLC’s investment portfolio, making the stock its 28th largest position. Glen Eagle Advisors LLC’s holdings in NextEra Energy were worth $5,159,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sugar Maple Asset Management LLC purchased a new position in shares of NextEra Energy during the 4th quarter worth approximately $28,000. Bellwether Advisors LLC acquired a new stake in NextEra Energy during the 4th quarter valued at $30,000. WealthTrak Capital Management LLC purchased a new position in NextEra Energy during the fourth quarter worth $33,000. Luken Investment Analytics LLC acquired a new position in shares of NextEra Energy in the fourth quarter worth $36,000. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of NextEra Energy in the fourth quarter valued at $44,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Price Performance

NEE opened at $74.37 on Wednesday. The company has a market capitalization of $153.10 billion, a P/E ratio of 22.07, a PEG ratio of 2.45 and a beta of 0.69. The company has a 50-day moving average of $68.77 and a 200-day moving average of $71.20. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.38 and a current ratio of 0.47. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.10.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Evercore ISI cut their target price on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a research note on Monday, January 27th. Guggenheim reissued a “buy” rating and set a $89.00 price target on shares of NextEra Energy in a research report on Thursday, March 20th. Wells Fargo & Company cut their price objective on NextEra Energy from $102.00 to $97.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. BMO Capital Markets decreased their target price on NextEra Energy from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Finally, Jefferies Financial Group dropped their target price on shares of NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $83.46.

Insiders Place Their Bets

In other NextEra Energy news, EVP Charles E. Sieving sold 23,684 shares of the firm’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $70.00, for a total value of $1,657,880.00. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

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.