Journey Advisory Group LLC Reduces Stake in NextEra Energy, Inc. (NYSE:NEE)

Journey Advisory Group LLC reduced its holdings in NextEra Energy, Inc. (NYSE:NEE) by 0.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 76,939 shares of the utilities provider’s stock after selling 279 shares during the quarter. Journey Advisory Group LLC’s holdings in NextEra Energy were worth $6,504,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NEE. Alpha DNA Investment Management LLC increased its position in shares of NextEra Energy by 89.1% during the third quarter. Alpha DNA Investment Management LLC now owns 51,965 shares of the utilities provider’s stock valued at $4,393,000 after buying an additional 24,478 shares during the period. Larson Financial Group LLC boosted its position in NextEra Energy by 55.7% during the 3rd quarter. Larson Financial Group LLC now owns 11,389 shares of the utilities provider’s stock valued at $963,000 after acquiring an additional 4,076 shares in the last quarter. Swedbank AB grew its holdings in shares of NextEra Energy by 33.2% during the 3rd quarter. Swedbank AB now owns 661,623 shares of the utilities provider’s stock worth $55,927,000 after acquiring an additional 164,737 shares during the period. Palisade Asset Management LLC raised its position in shares of NextEra Energy by 0.8% in the 3rd quarter. Palisade Asset Management LLC now owns 22,142 shares of the utilities provider’s stock worth $1,872,000 after acquiring an additional 177 shares in the last quarter. Finally, One Charles Private Wealth Services LLC bought a new position in shares of NextEra Energy in the 3rd quarter worth approximately $214,000. 78.72% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Stock Performance

NEE stock opened at $76.00 on Friday. The stock’s 50 day simple moving average is $80.90 and its 200 day simple moving average is $77.71. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11. NextEra Energy, Inc. has a 12-month low of $53.95 and a 12-month high of $86.10. The stock has a market capitalization of $156.29 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 2.79 and a beta of 0.57.

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

NextEra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be paid a $0.515 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.71%. NextEra Energy’s dividend payout ratio is presently 60.95%.

Insider Activity

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,007 shares of NextEra Energy stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total value 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 approximately $1,193,401.44. The trade was a 20.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NEE shares. Royal Bank of Canada cut NextEra Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on shares of NextEra Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $87.00 target price on the stock. Barclays lifted their price target on shares of NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. BMO Capital Markets upped their price objective 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, Scotiabank lifted their target price on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $86.85.

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.