Pitcairn Co. Sells 6,640 Shares of NextEra Energy, Inc. $NEE

Pitcairn Co. lowered its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 21.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,808 shares of the utilities provider’s stock after selling 6,640 shares during the quarter. Pitcairn Co.’s holdings in NextEra Energy were worth $1,797,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NEE. Goodman Advisory Group LLC acquired a new position in shares of NextEra Energy in the second quarter valued at approximately $25,000. Tripletail Wealth Management LLC acquired a new stake in shares of NextEra Energy during the third quarter worth $25,000. Howard Hughes Medical Institute bought a new stake in NextEra Energy in the 2nd quarter valued at $31,000. Rexford Capital Inc. acquired a new position in NextEra Energy in the 2nd quarter worth $34,000. Finally, Abound Wealth Management boosted its stake in NextEra Energy by 108.2% in the 3rd quarter. Abound Wealth Management now owns 456 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 237 shares during the period. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NextEra Energy news, CEO John W. Ketchum sold 99,603 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $89.34, for a total transaction of $8,898,532.02. Following the transaction, the chief executive officer owned 305,933 shares of the company’s stock, valued at $27,332,054.22. The trade was a 24.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles E. Sieving sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $90.00, for a total value of $2,700,000.00. Following the completion of the sale, the executive vice president directly owned 167,481 shares of the company’s stock, valued at approximately $15,073,290. The trade was a 15.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 159,049 shares of company stock worth $14,194,542. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

NEE has been the subject of several recent research reports. Seaport Research Partners reduced their price objective on NextEra Energy from $56.00 to $55.00 and set a “sell” rating for the company in a research report on Monday, February 2nd. Barclays boosted their target price on NextEra Energy from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 15th. BTIG Research reaffirmed a “buy” rating and set a $103.00 price target on shares of NextEra Energy in a research report on Wednesday, January 28th. The Goldman Sachs Group raised their price target on shares of NextEra Energy from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, Jefferies Financial Group set a $87.00 price objective on shares of NextEra Energy in a report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.16.

NextEra Energy Stock Down 0.1%

NYSE:NEE opened at $91.03 on Friday. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month high of $95.91. The firm has a market capitalization of $189.66 billion, a price-to-earnings ratio of 27.67 and a beta of 0.76. The company has a quick ratio of 0.49, a current ratio of 0.60 and a debt-to-equity ratio of 1.35. The stock’s 50 day moving average price is $87.27 and its two-hundred day moving average price is $82.28.

NextEra Energy (NYSE:NEE) last issued its earnings results on Tuesday, January 27th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. NextEra Energy had a net margin of 24.93% and a return on equity of 12.18%. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the previous year, the company earned $0.53 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities research analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a dividend of $0.6232 per share. The ex-dividend date is Friday, February 27th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.57. This represents a $2.49 dividend on an annualized basis and a yield of 2.7%. NextEra Energy’s dividend payout ratio is 75.68%.

NextEra Energy Company Profile

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.