GM Advisory Group LLC Reduces Stock Position in NextEra Energy, Inc. (NYSE:NEE)

GM Advisory Group LLC reduced its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 16.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,741 shares of the utilities provider’s stock after selling 3,120 shares during the quarter. GM Advisory Group LLC’s holdings in NextEra Energy were worth $1,331,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Border to Coast Pensions Partnership Ltd increased its holdings in NextEra Energy by 2.2% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 1,216,077 shares of the utilities provider’s stock worth $102,495,000 after acquiring an additional 26,270 shares during the period. Swiss National Bank increased its holdings in NextEra Energy by 0.4% during the 3rd quarter. Swiss National Bank now owns 6,098,200 shares of the utilities provider’s stock worth $515,481,000 after acquiring an additional 21,400 shares during the period. Ancora Advisors LLC increased its holdings in NextEra Energy by 10.6% during the 1st quarter. Ancora Advisors LLC now owns 79,994 shares of the utilities provider’s stock worth $5,112,000 after acquiring an additional 7,677 shares during the period. Magnolia Capital Advisors LLC increased its holdings in NextEra Energy by 1,224.3% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 72,453 shares of the utilities provider’s stock worth $5,130,000 after acquiring an additional 66,982 shares during the period. Finally, Raymond James & Associates increased its holdings in NextEra Energy by 57.0% during the 2nd quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock worth $421,831,000 after acquiring an additional 2,163,437 shares during the period. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NEE. Morgan Stanley upped their target price on shares of NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Bank of America increased their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Guggenheim increased their price target on shares of NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. BMO Capital Markets increased their price target on shares of NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Dbs Bank lowered shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $86.54.

NextEra Energy Price Performance

NEE stock opened at $77.37 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.33 and a current ratio of 0.41. NextEra Energy, Inc. has a 52 week low of $53.95 and a 52 week high of $86.10. The firm’s fifty day moving average is $81.08 and its 200 day moving average is $77.64. The firm has a market cap of $159.10 billion, a P/E ratio of 22.89, a P/E/G ratio of 2.78 and a beta of 0.57.

NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. The company had revenue of $7.57 billion for the quarter, compared to analyst estimates of $8.11 billion. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 EPS. Research analysts predict that NextEra Energy, Inc. will post 3.41 earnings per share for the current year.

NextEra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.515 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.06 annualized dividend and a yield of 2.66%. NextEra Energy’s payout ratio is currently 60.95%.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,007 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total transaction of $302,808.99. Following the completion of the sale, the executive vice president now owns 15,792 shares of the company’s stock, valued at $1,193,401.44. This represents a 20.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by corporate 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,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.