Intech Investment Management LLC Has $4.49 Million Position in NextEra Energy, Inc. (NYSE:NEE)

Intech Investment Management LLC cut its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 17.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 73,926 shares of the utilities provider’s stock after selling 15,323 shares during the period. Intech Investment Management LLC’s holdings in NextEra Energy were worth $4,490,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NEE. Avitas Wealth Management LLC grew its stake in NextEra Energy by 2.9% in the fourth quarter. Avitas Wealth Management LLC now owns 37,843 shares of the utilities provider’s stock valued at $2,299,000 after purchasing an additional 1,057 shares in the last quarter. Stiles Financial Services Inc grew its stake in NextEra Energy by 9.0% in the fourth quarter. Stiles Financial Services Inc now owns 35,180 shares of the utilities provider’s stock valued at $2,137,000 after purchasing an additional 2,899 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in NextEra Energy by 1.7% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 383,932 shares of the utilities provider’s stock valued at $21,995,000 after purchasing an additional 6,325 shares in the last quarter. Janney Capital Management LLC grew its stake in NextEra Energy by 9.5% in the fourth quarter. Janney Capital Management LLC now owns 46,673 shares of the utilities provider’s stock valued at $2,835,000 after purchasing an additional 4,047 shares in the last quarter. Finally, Asio Capital LLC bought a new position in NextEra Energy in the fourth quarter valued at approximately $2,701,000. 78.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NEE. Mizuho raised their price objective on NextEra Energy from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Bank of America raised their price objective on NextEra Energy from $61.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, April 23rd. Morgan Stanley raised their price objective on NextEra Energy from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Scotiabank raised their price objective on NextEra Energy from $69.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, April 22nd. Finally, Wells Fargo & Company raised their price objective on NextEra Energy from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.64.

NextEra Energy Price Performance

NYSE NEE traded up $1.29 during midday trading on Monday, hitting $76.61. The company had a trading volume of 7,601,100 shares, compared to its average volume of 11,642,652. The company has a market capitalization of $157.40 billion, a PE ratio of 20.87, a P/E/G ratio of 2.81 and a beta of 0.50. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.12. The firm has a 50-day moving average price of $67.50 and a 200-day moving average price of $61.60. NextEra Energy, Inc. has a twelve month low of $47.15 and a twelve month high of $77.41.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. The firm had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the previous year, the firm earned $0.84 EPS. The company’s quarterly revenue was down 14.7% compared to the same quarter last year. As a group, analysts anticipate that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.515 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.06 dividend on an annualized basis and a yield of 2.69%. NextEra Energy’s dividend payout ratio is currently 56.13%.

NextEra Energy Company 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.