Pinney & Scofield Inc. Invests $187,000 in NextEra Energy, Inc. (NYSE:NEE)

Pinney & Scofield Inc. acquired a new position in shares of NextEra Energy, Inc. (NYSE:NEE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,610 shares of the utilities provider’s stock, valued at approximately $187,000.

Other institutional investors have also added to or reduced their stakes in the company. Bellwether Advisors LLC acquired a new position in NextEra Energy during the 4th quarter worth approximately $30,000. WealthTrak Capital Management LLC acquired a new position in NextEra Energy during the 4th quarter worth approximately $33,000. Luken Investment Analytics LLC acquired a new position in NextEra Energy during the 4th quarter worth approximately $36,000. Midwest Capital Advisors LLC acquired a new position in NextEra Energy during the 4th quarter worth approximately $44,000. Finally, Promus Capital LLC acquired a new position in NextEra Energy during the 4th quarter worth approximately $45,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Jefferies Financial Group decreased their price target on shares of NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. BMO Capital Markets decreased their price target on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Erste Group Bank cut shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Morgan Stanley restated an “overweight” rating on shares of NextEra Energy in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their price target on shares of NextEra Energy from $102.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.50.

Insider Activity

In related news, EVP Charles E. Sieving sold 23,684 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 196,817 shares of the company’s stock, valued at $13,777,190. This represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

NextEra Energy Trading Up 1.3%

NYSE:NEE opened at $67.82 on Friday. The firm’s fifty day moving average is $68.57 and its 200-day moving average is $71.04. 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 52 week low of $61.72 and a 52 week high of $86.10. The firm has a market cap of $139.62 billion, a P/E ratio of 20.12, a P/E/G ratio of 2.45 and a beta of 0.69.

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

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Monday, June 2nd. NextEra Energy’s dividend payout ratio is currently 84.64%.

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.