Cullen Capital Management LLC Cuts Stock Position in NextEra Energy, Inc. $NEE

Cullen Capital Management LLC cut its position in NextEra Energy, Inc. (NYSE:NEE) by 2.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,476,861 shares of the utilities provider’s stock after selling 49,878 shares during the quarter. NextEra Energy makes up approximately 2.0% of Cullen Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding. Cullen Capital Management LLC owned about 0.12% of NextEra Energy worth $171,944,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dakota Community Bank & Trust NA raised its stake in shares of NextEra Energy by 49.2% during the 2nd quarter. Dakota Community Bank & Trust NA now owns 2,385 shares of the utilities provider’s stock worth $166,000 after acquiring an additional 786 shares in the last quarter. Caldwell Trust Co purchased a new position in NextEra Energy in the second quarter worth $12,762,000. Valeo Financial Advisors LLC grew its holdings in NextEra Energy by 14.2% in the second quarter. Valeo Financial Advisors LLC now owns 38,206 shares of the utilities provider’s stock worth $2,652,000 after purchasing an additional 4,744 shares during the last quarter. Milestones Private Investment Advisors LLC acquired a new position in shares of NextEra Energy during the second quarter worth $467,000. Finally, NWF Advisory Services Inc. lifted its holdings in shares of NextEra Energy by 74.6% during the 2nd quarter. NWF Advisory Services Inc. now owns 28,823 shares of the utilities provider’s stock valued at $2,001,000 after purchasing an additional 12,318 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Charles E. Sieving sold 11,336 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total transaction of $906,880.00. Following the completion of the transaction, the executive vice president directly owned 167,481 shares in the company, valued at $13,398,480. The trade was a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Lemasney sold 846 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the sale, the executive vice president directly owned 9,267 shares in the company, valued at approximately $694,098.30. The trade was a 8.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 157,322 shares of company stock valued at $13,148,943 over the last 90 days. Insiders own 0.18% of the company’s stock.

NextEra Energy Trading Up 0.5%

NextEra Energy stock opened at $81.65 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.30. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $87.53. The company has a market capitalization of $170.05 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 2.75 and a beta of 0.74. The stock has a 50-day moving average price of $83.68 and a 200 day moving average price of $76.67.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.09. NextEra Energy had a net margin of 24.72% and a return on equity of 12.42%. The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the prior year, the company earned $1.03 EPS. NextEra Energy’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be issued a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. NextEra Energy’s dividend payout ratio (DPR) is 72.29%.

Analyst Ratings Changes

Several brokerages recently weighed in on NEE. Melius Research upgraded NextEra Energy to a “strong-buy” rating in a research note on Wednesday, August 20th. Evercore ISI restated an “outperform” rating and set a $93.00 price target on shares of NextEra Energy in a research note on Tuesday, October 28th. Morgan Stanley cut their price objective on shares of NextEra Energy from $98.00 to $97.00 and set an “overweight” rating on the stock in a report on Thursday, November 20th. Cowen began coverage on shares of NextEra Energy in a research note on Wednesday, October 15th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company raised shares of NextEra Energy to a “strong-buy” rating in a research report on Tuesday, October 28th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.72.

NextEra Energy 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.