NextEra Energy, Inc. $NEE Stock: Kestra Investment Management LLC Trims Holdings

Kestra Investment Management LLC lessened its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 60.5% in the 3rd quarter, Holdings Channel reports. The firm owned 4,408 shares of the utilities provider’s stock after selling 6,763 shares during the period. Kestra Investment Management LLC’s holdings in NextEra Energy were worth $334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEE. Kilter Group LLC purchased a new stake in NextEra Energy during the 2nd quarter worth approximately $25,000. Manning & Napier Advisors LLC acquired a new position in shares of NextEra Energy during the second quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of NextEra Energy during the second quarter valued at approximately $26,000. Financial Network Wealth Advisors LLC lifted its position in shares of NextEra Energy by 83.0% in the second quarter. Financial Network Wealth Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 156 shares in the last quarter. Finally, Axiom Investment Management LLC purchased a new position in shares of NextEra Energy in the first quarter valued at approximately $32,000. 78.72% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Trading Down 0.8%

NEE opened at $85.30 on Friday. The firm has a market capitalization of $178.91 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 2.66 and a beta of 0.60. The company’s 50 day simple moving average is $80.79 and its two-hundred day simple moving average is $87.30. NextEra Energy, Inc. has a 1-year low of $74.41 and a 1-year high of $98.75. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.53 and a quick ratio of 0.45.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, October 21st. The utilities provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $8.09 billion during the quarter, compared to analyst estimates of $8.47 billion. NextEra Energy had a return on equity of 12.27% and a net margin of 40.37%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 earnings per share. Analysts expect that NextEra Energy, Inc. will post 4.01 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 27th will be paid a dividend of $0.6232 per share. The ex-dividend date of this dividend is Friday, November 27th. This represents a $2.49 dividend on an annualized basis and a yield of 2.9%. NextEra Energy’s payout ratio is 44.86%.

Latest NextEra Energy News

Here’s some of the latest news about NEE:

• Positive Sentiment: The State Street Utilities SPDR (XLU) reportedly increased its NextEra holdings by $76 million, a sign of added institutional demand. Article: State Street Utilities SPDR Buys More NextEra
• Positive Sentiment: CIBC included NEE among its stock picks following the Democratic election sweep, ranking it eighth on its list. Article: CIBC Stock Picks
• Negative Sentiment: Reports highlight a potential $4.83 billion merger-fee issue and pressure in Virginia. The scale of the fee and regulatory uncertainty could raise the cost of a failed or delayed transaction and keep deal risk in focus. Article: Merger Fee Test Article: Virginia Merger Pressure

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NEE. BTIG Research set a $106.00 price target on NextEra Energy in a research note on Thursday, October 22nd. Piper Sandler set a $88.00 price target on NextEra Energy in a research report on Tuesday, October 20th. HC Wainwright reissued a “buy” rating on shares of NextEra Energy in a research note on Monday, July 27th. Scotiabank decreased their price objective on NextEra Energy from $110.00 to $99.00 and set an “outperform” rating on the stock in a report on Wednesday, September 30th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $108.00 target price on shares of NextEra Energy in a research note on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.80.

NextEra Energy Profile

NextEra Energy, Inc. is an energy company whose businesses include Florida Power & Light Company (FPL), a regulated electric utility, and NextEra Energy Resources, a developer and operator of energy infrastructure. FPL generates, transmits and distributes electricity to customers across Florida. NextEra Energy Resources develops and operates projects in North America, including wind and solar generation, battery storage, and natural gas and nuclear facilities. The company also invests in transmission infrastructure and provides energy-related services.