Cullen Investment Group LTD. Trims Stake in NextEra Energy, Inc. $NEE

Cullen Investment Group LTD. lowered its position in NextEra Energy, Inc. (NYSE:NEE) by 14.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,908 shares of the utilities provider’s stock after selling 503 shares during the quarter. Cullen Investment Group LTD.’s holdings in NextEra Energy were worth $202,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Somerset Trust Co grew its holdings in shares of NextEra Energy by 5.2% in the first quarter. Somerset Trust Co now owns 89,709 shares of the utilities provider’s stock worth $6,359,000 after purchasing an additional 4,445 shares during the last quarter. Elyxium Wealth LLC bought a new position in shares of NextEra Energy in the first quarter worth about $783,000. Viking Fund Management LLC grew its holdings in shares of NextEra Energy by 67.8% in 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 during the last quarter. Trust Co. of Vermont grew its holdings in shares of NextEra Energy by 2.2% in the first quarter. Trust Co. of Vermont now owns 385,592 shares of the utilities provider’s stock worth $27,335,000 after purchasing an additional 8,472 shares during the last quarter. Finally, Tema Etfs LLC grew its holdings in shares of NextEra Energy by 835.9% in the first quarter. Tema Etfs LLC now owns 50,839 shares of the utilities provider’s stock worth $3,604,000 after purchasing an additional 45,407 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Morgan Stanley restated an “overweight” rating on shares of NextEra Energy in a report on Thursday, August 21st. Barclays increased their target price on shares of NextEra Energy from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Mizuho set a $78.00 target price on shares of NextEra Energy in a report on Thursday, August 21st. Melius Research upgraded shares of NextEra Energy to a “strong-buy” rating in a report on Wednesday, August 20th. Finally, BMO Capital Markets increased their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

NextEra Energy Stock Up 0.5%

NYSE:NEE opened at $71.66 on Friday. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.10. The stock has a market capitalization of $147.57 billion, a P/E ratio of 25.06, a P/E/G ratio of 2.46 and a beta of 0.65. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54. The company’s 50-day simple moving average is $73.10 and its 200-day simple moving average is $71.06.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same period last year, the business earned $0.96 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. On average, equities analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 28th will be paid a $0.5665 dividend. The ex-dividend date is Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a yield of 3.2%. NextEra Energy’s dividend payout ratio (DPR) is 79.37%.

Insider Buying and Selling

In related news, EVP Robert Coffey sold 7,500 shares of NextEra Energy stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $71.84, for a total value of $538,800.00. Following the completion of the sale, the executive vice president directly owned 26,539 shares in the company, valued at $1,906,561.76. This trade represents a 22.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Treasurer James Michael May sold 2,177 shares of NextEra Energy stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total transaction of $168,717.50. Following the completion of the sale, the treasurer owned 27,662 shares of the company’s stock, valued at $2,143,805. This trade represents a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,677 shares of company stock worth $1,415,418 in the last three months. Corporate insiders own 0.20% of the company’s stock.

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.