1858 Wealth Management LLC Sells 2,651 Shares of NextEra Energy, Inc. (NYSE:NEE)

1858 Wealth Management LLC cut its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 32.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,456 shares of the utilities provider’s stock after selling 2,651 shares during the period. 1858 Wealth Management LLC’s holdings in NextEra Energy were worth $387,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bellwether Advisors LLC bought a new stake in NextEra Energy in the 4th quarter worth about $30,000. WealthTrak Capital Management LLC bought a new stake in NextEra Energy in the 4th quarter worth about $33,000. Copia Wealth Management bought a new stake in NextEra Energy in the 4th quarter worth about $36,000. Midwest Capital Advisors LLC bought a new stake in NextEra Energy in the 4th quarter worth about $44,000. Finally, Promus Capital LLC bought a new stake in NextEra Energy in the 4th quarter worth about $45,000. 78.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NEE. BMO Capital Markets dropped their target price on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. boosted their target price on shares of NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Barclays dropped 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 research note on Tuesday, April 29th. Erste Group Bank cut shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, UBS Group dropped their target price on shares of NextEra Energy from $94.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, NextEra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $84.50.

Insiders Place Their Bets

In other 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 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 represents a 10.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

NextEra Energy Stock Performance

NYSE:NEE opened at $71.61 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.45 and a current ratio of 0.55. 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 $147.41 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 2.52 and a beta of 0.68. The business’s fifty day moving average is $69.57 and its 200 day moving average is $70.28.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $6.58 billion. During the same period in the previous year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.5665 dividend. This represents a $2.27 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Monday, June 2nd. NextEra Energy’s dividend payout ratio is presently 85.02%.

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.