Pinnacle Associates Ltd. cut its holdings in shares of NextEra Energy Inc (NYSE:NEE) by 2.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,587 shares of the utilities provider’s stock after selling 1,595 shares during the period. Pinnacle Associates Ltd.’s holdings in NextEra Energy were worth $13,375,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NEE. Norges Bank bought a new stake in NextEra Energy during the fourth quarter worth $1,651,472,000. Bessemer Group Inc. lifted its stake in NextEra Energy by 10,443.2% during the first quarter. Bessemer Group Inc. now owns 644,191 shares of the utilities provider’s stock worth $155,005,000 after purchasing an additional 638,081 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in NextEra Energy by 94.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 992,773 shares of the utilities provider’s stock worth $240,410,000 after purchasing an additional 481,589 shares during the last quarter. Cullen Capital Management LLC lifted its stake in NextEra Energy by 140.1% during the first quarter. Cullen Capital Management LLC now owns 751,239 shares of the utilities provider’s stock worth $180,763,000 after purchasing an additional 438,369 shares during the last quarter. Finally, Swiss National Bank lifted its stake in NextEra Energy by 23.3% during the first quarter. Swiss National Bank now owns 2,295,283 shares of the utilities provider’s stock worth $552,291,000 after purchasing an additional 434,000 shares during the last quarter. Hedge funds and other institutional investors own 77.08% of the company’s stock.

NextEra Energy stock traded up $2.89 during midday trading on Wednesday, reaching $259.49. 1,058,451 shares of the company traded hands, compared to its average volume of 2,361,737. The firm has a market capitalization of $126.21 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 3.65 and a beta of 0.23. The business has a 50 day moving average of $236.51 and a two-hundred day moving average of $242.96. NextEra Energy Inc has a 12 month low of $174.80 and a 12 month high of $283.35. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.71 and a quick ratio of 0.61.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Wednesday, April 22nd. The utilities provider reported $2.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.26 by $0.12. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.88 billion. NextEra Energy had a net margin of 17.77% and a return on equity of 10.38%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 earnings per share. As a group, equities analysts forecast that NextEra Energy Inc will post 9.06 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Tuesday, June 2nd will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $5.60 dividend on an annualized basis and a yield of 2.16%. NextEra Energy’s dividend payout ratio (DPR) is 66.91%.

NEE has been the subject of several recent analyst reports. BMO Capital Markets assumed coverage on NextEra Energy in a research note on Wednesday, February 19th. They set an “outperform” rating and a $290.00 target price for the company. Credit Suisse Group decreased their price target on NextEra Energy from $256.00 to $252.00 and set a “neutral” rating for the company in a report on Friday, April 17th. Morgan Stanley reduced their target price on NextEra Energy from $246.00 to $237.00 and set an “equal weight” rating for the company in a research note on Friday, May 15th. Barclays reduced their target price on NextEra Energy from $269.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, March 26th. Finally, UBS Group dropped their price target on shares of NextEra Energy from $310.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. NextEra Energy has a consensus rating of “Buy” and a consensus price target of $251.07.

In other news, EVP Miguel Arechabala sold 3,741 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $225.00, for a total value of $841,725.00. Following the completion of the sale, the executive vice president now directly owns 5,953 shares of the company’s stock, valued at $1,339,425. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James L. Robo sold 70,968 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $227.05, for a total transaction of $16,113,284.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,698 shares of company stock worth $19,052,094. 0.40% of the stock is owned by insiders.

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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.

Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers

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Institutional Ownership by Quarter for NextEra Energy (NYSE:NEE)

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