Tributary Capital Management LLC Lowers Stake in NextEra Energy, Inc. (NYSE:NEE)

Tributary Capital Management LLC trimmed its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 5.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,620 shares of the utilities provider’s stock after selling 326 shares during the period. Tributary Capital Management LLC’s holdings in NextEra Energy were worth $398,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions 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 bought a new position in NextEra Energy during the 4th quarter worth approximately $33,000. Copia Wealth Management bought a new position in NextEra Energy during the 4th quarter valued at approximately $36,000. Hughes Financial Services LLC purchased a new position in shares of NextEra Energy in the first quarter valued at about $40,000. Finally, Graney & King LLC bought a new position in shares of NextEra Energy during the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley lowered their price objective on NextEra Energy from $95.00 to $94.00 and set an “overweight” rating on the stock in a report on Wednesday, June 18th. HSBC cut their target price on shares of NextEra Energy from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Friday, July 11th. JPMorgan Chase & Co. reduced their price target on shares of NextEra Energy from $86.00 to $82.00 in a research report on Thursday, July 3rd. Barclays raised their price target on shares of NextEra Energy from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Finally, BMO Capital Markets decreased their price objective on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, NextEra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $84.08.

NextEra Energy Stock Performance

NYSE NEE opened at $75.22 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. The firm’s fifty day moving average price is $71.98 and its two-hundred day moving average price is $70.31. The stock has a market cap of $154.86 billion, a PE ratio of 28.17, a PEG ratio of 2.63 and a beta of 0.67. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.10.

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

NextEra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Monday, June 2nd. NextEra Energy’s dividend payout ratio is presently 85.02%.

Insider Transactions at NextEra Energy

In other NextEra Energy 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 transaction of $1,657,880.00. Following the sale, the executive vice president directly owned 196,817 shares in the company, valued at $13,777,190. This represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company 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.