L & S Advisors Inc Decreases Position in NextEra Energy, Inc. (NYSE:NEE)

L & S Advisors Inc decreased its position in NextEra Energy, Inc. (NYSE:NEE) by 21.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 45,831 shares of the utilities provider’s stock after selling 12,659 shares during the period. L & S Advisors Inc’s holdings in NextEra Energy were worth $3,286,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Second Line Capital LLC grew its stake in NextEra Energy by 4.7% in the 3rd quarter. Second Line Capital LLC now owns 3,097 shares of the utilities provider’s stock valued at $262,000 after acquiring an additional 139 shares during the last quarter. Accel Wealth Management grew its position in shares of NextEra Energy by 1.7% in the fourth quarter. Accel Wealth Management now owns 8,615 shares of the utilities provider’s stock valued at $618,000 after purchasing an additional 145 shares during the last quarter. L.M. Kohn & Company increased its stake in shares of NextEra Energy by 1.0% during the 4th quarter. L.M. Kohn & Company now owns 15,353 shares of the utilities provider’s stock worth $1,101,000 after purchasing an additional 145 shares in the last quarter. 1ST Source Bank raised its position in shares of NextEra Energy by 0.4% during the 3rd quarter. 1ST Source Bank now owns 34,178 shares of the utilities provider’s stock worth $2,889,000 after purchasing an additional 147 shares during the last quarter. Finally, Tortoise Investment Management LLC lifted its stake in NextEra Energy by 8.3% in the 4th quarter. Tortoise Investment Management LLC now owns 1,943 shares of the utilities provider’s stock valued at $139,000 after buying an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Up 0.6 %

Shares of NEE opened at $70.44 on Friday. The firm has a market cap of $144.90 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.45 and a beta of 0.58. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20. The company’s fifty day moving average is $70.67 and its two-hundred day moving average is $75.14. NextEra Energy, Inc. has a fifty-two week low of $61.31 and a fifty-two week high of $86.10.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. Analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a yield of 3.22%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, February 28th. NextEra Energy’s payout ratio is 67.06%.

Insiders Place Their Bets

In related news, CAO James Michael May sold 2,383 shares of NextEra Energy stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total transaction of $162,258.47. Following the transaction, the chief accounting officer now owns 27,427 shares in the company, valued at approximately $1,867,504.43. The trade was a 7.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on NEE shares. Jefferies Financial Group dropped their price target on NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. Evercore ISI dropped their price objective on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a research report on Monday, January 27th. Scotiabank upped their target price on shares of NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Guggenheim reiterated a “buy” rating and set a $89.00 price target on shares of NextEra Energy in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NextEra Energy currently has an average rating of “Hold” and a consensus target price of $85.92.

About NextEra Energy

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.