Citizens & Northern Corp Reduces Holdings in NextEra Energy, Inc. (NYSE:NEE)

Citizens & Northern Corp lowered its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,636 shares of the utilities provider’s stock after selling 581 shares during the period. Citizens & Northern Corp’s holdings in NextEra Energy were worth $1,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Somerset Trust Co raised its position in NextEra Energy by 5.2% in the first quarter. Somerset Trust Co now owns 89,709 shares of the utilities provider’s stock valued at $6,359,000 after purchasing an additional 4,445 shares during the period. Viking Fund Management LLC lifted its position in shares of NextEra Energy by 67.8% during the first quarter. Viking Fund Management LLC now owns 495,000 shares of the utilities provider’s stock worth $35,091,000 after purchasing an additional 200,000 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of NextEra Energy in the fourth quarter valued at approximately $203,000. HFR Wealth Management LLC grew its holdings in shares of NextEra Energy by 1.4% in the fourth quarter. HFR Wealth Management LLC now owns 127,640 shares of the utilities provider’s stock valued at $9,151,000 after purchasing an additional 1,799 shares in the last quarter. Finally, Blackstone Inc. grew its holdings in shares of NextEra Energy by 75.3% in the fourth quarter. Blackstone Inc. now owns 3,313,252 shares of the utilities provider’s stock valued at $237,527,000 after purchasing an additional 1,423,730 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley dropped their price target on shares of NextEra Energy from $95.00 to $94.00 and set an “overweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Wells Fargo & Company reduced their price target on NextEra Energy from $102.00 to $97.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Erste Group Bank downgraded NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, Barclays reduced their target price on shares of NextEra Energy from $73.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.50.

Insider Activity at NextEra Energy

In related news, EVP Charles E. Sieving sold 23,684 shares of the business’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 completion of the transaction, the executive vice president now owns 196,817 shares of the company’s stock, valued at approximately $13,777,190. The trade was a 10.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

NextEra Energy Stock Performance

NYSE NEE opened at $71.54 on Friday. The firm has a market cap of $147.28 billion, a P/E ratio of 26.79, a P/E/G ratio of 2.52 and a beta of 0.68. NextEra Energy, Inc. has a 52-week low of $61.72 and a 52-week high of $86.10. The business’s 50-day moving average price is $69.45 and its 200 day moving average price is $70.35. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.32.

NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.99. NextEra Energy had a return on equity of 12.06% and a net margin of 21.81%. The company had revenue of $6.25 billion for the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.5665 dividend. The ex-dividend date was Monday, June 2nd. This represents a $2.27 annualized dividend and a dividend yield of 3.17%. NextEra Energy’s dividend payout ratio is currently 85.02%.

NextEra Energy 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.