WealthPLAN Partners LLC Cuts Position in NextEra Energy, Inc. $NEE

WealthPLAN Partners LLC lessened its holdings in NextEra Energy, Inc. (NYSE:NEE) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,202 shares of the utilities provider’s stock after selling 209 shares during the period. WealthPLAN Partners LLC’s holdings in NextEra Energy were worth $639,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 1 North Wealth Services LLC purchased a new position in shares of NextEra Energy in the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. purchased a new position in shares of NextEra Energy in the 1st quarter worth approximately $32,000. IMA Advisory Services Inc. purchased a new position in shares of NextEra Energy in the 1st quarter worth approximately $35,000. Semmax Financial Advisors Inc. boosted its stake in shares of NextEra Energy by 335.0% in the 1st quarter. Semmax Financial Advisors Inc. now owns 509 shares of the utilities provider’s stock worth $36,000 after buying an additional 392 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its holdings in shares of NextEra Energy by 237.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 366 shares during the period. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NEE shares. Evercore ISI set a $92.00 price target on shares of NextEra Energy and gave the stock an “outperform” rating in a report on Monday, October 6th. New Street Research set a $84.00 price target on shares of NextEra Energy in a report on Monday. JPMorgan Chase & Co. lifted their price target on shares of NextEra Energy from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, August 22nd. Mizuho set a $78.00 price target on shares of NextEra Energy in a report on Thursday, August 21st. Finally, Cowen started coverage on shares of NextEra Energy in a report on Wednesday. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.57.

NextEra Energy Trading Up 1.3%

Shares of NEE stock opened at $85.73 on Thursday. The company’s fifty day simple moving average is $75.05 and its two-hundred day simple moving average is $72.03. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.54 and a quick ratio of 0.45. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $86.49. The stock has a market capitalization of $176.53 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 2.86 and a beta of 0.66.

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

NextEra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 28th were given a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Thursday, August 28th. NextEra Energy’s payout ratio is 79.37%.

Insider Activity

In other news, EVP Mark Lemasney sold 846 shares of the business’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the transaction, the executive vice president directly owned 9,267 shares in the company, valued at $694,098.30. The trade was a 8.37% 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 the business’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total transaction of $168,717.50. Following the transaction, 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. Over the last three months, insiders sold 32,705 shares of company stock worth $2,446,490. Company insiders own 0.20% of the company’s stock.

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.