Shikiar Asset Management Inc. Sells 8,340 Shares of NextEra Energy, Inc. $NEE

Shikiar Asset Management Inc. cut its holdings in NextEra Energy, Inc. (NYSE:NEE) by 7.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 98,718 shares of the utilities provider’s stock after selling 8,340 shares during the quarter. NextEra Energy makes up about 1.9% of Shikiar Asset Management Inc.’s holdings, making the stock its 19th largest holding. Shikiar Asset Management Inc.’s holdings in NextEra Energy were worth $7,452,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of NextEra Energy by 2.7% in the second quarter. Vanguard Group Inc. now owns 212,877,021 shares of the utilities provider’s stock valued at $14,777,923,000 after buying an additional 5,554,603 shares during the period. Geode Capital Management LLC lifted its position in NextEra Energy by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 45,724,229 shares of the utilities provider’s stock valued at $3,161,774,000 after acquiring an additional 526,996 shares in the last quarter. Norges Bank bought a new stake in NextEra Energy in the 2nd quarter valued at $2,375,545,000. Charles Schwab Investment Management Inc. boosted its stake in NextEra Energy by 2.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 16,786,728 shares of the utilities provider’s stock worth $1,165,896,000 after purchasing an additional 340,315 shares during the period. Finally, Legal & General Group Plc increased its holdings in NextEra Energy by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 16,414,103 shares of the utilities provider’s stock worth $1,139,467,000 after purchasing an additional 408,198 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Price Performance

Shares of NEE opened at $80.08 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.30. The company’s fifty day simple moving average is $83.35 and its 200 day simple moving average is $77.11. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $87.53. The company has a market cap of $166.77 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 2.67 and a beta of 0.74.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. The company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $8.13 billion. NextEra Energy had a net margin of 24.72% and a return on equity of 12.42%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. On average, research analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 21st were paid a $0.5665 dividend. The ex-dividend date was Friday, November 21st. This represents a $2.27 annualized dividend and a yield of 2.8%. NextEra Energy’s dividend payout ratio is currently 72.29%.

Analysts Set New Price Targets

A number of analysts have recently commented on NEE shares. HSBC boosted their price target on NextEra Energy from $94.00 to $95.00 in a report on Monday, November 10th. BMO Capital Markets restated an “outperform” rating and issued a $89.00 target price (down previously from $90.00) on shares of NextEra Energy in a research note on Wednesday, December 10th. Wells Fargo & Company raised shares of NextEra Energy to a “strong-buy” rating in a research note on Tuesday, October 28th. UBS Group set a $91.00 price objective on shares of NextEra Energy and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Finally, Cowen began coverage on shares of NextEra Energy in a report on Wednesday, October 15th. They set a “buy” rating for the company. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, NextEra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $91.56.

Insider Buying and Selling at NextEra Energy

In related news, EVP Mark Lemasney sold 846 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total value of $63,365.40. Following the sale, the executive vice president owned 9,267 shares in the company, valued at approximately $694,098.30. This represents a 8.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles E. Sieving sold 11,336 shares of the firm’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total value of $906,880.00. Following the sale, the executive vice president directly owned 167,481 shares of the company’s stock, valued at $13,398,480. This represents a 6.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 157,322 shares of company stock worth $13,148,943 over the last 90 days. Company insiders own 0.18% of the company’s stock.

About NextEra Energy

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.