Carnegie Investment Counsel Lowers Stock Position in NextEra Energy, Inc. $NEE

Carnegie Investment Counsel cut its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 418,891 shares of the utilities provider’s stock after selling 14,468 shares during the quarter. Carnegie Investment Counsel’s holdings in NextEra Energy were worth $31,622,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management increased its stake in shares of NextEra Energy by 79.7% in the second quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 157 shares in the last quarter. Harbor Asset Planning Inc. bought a new position in NextEra Energy in the 2nd quarter worth $25,000. Goodman Advisory Group LLC purchased a new stake in NextEra Energy in the 2nd quarter worth $25,000. 1 North Wealth Services LLC bought a new stake in NextEra Energy during the first quarter valued at about $26,000. Finally, Quaker Wealth Management LLC raised its holdings in NextEra Energy by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 386 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 772 shares during the period. Institutional investors own 78.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Evercore ISI reaffirmed an “outperform” rating and issued a $93.00 price objective on shares of NextEra Energy in a research note on Tuesday, October 28th. Wells Fargo & Company upgraded NextEra Energy to a “strong-buy” rating in a research note on Tuesday, October 28th. BTIG Research reaffirmed a “buy” rating and set a $100.00 price objective on shares of NextEra Energy in a report on Tuesday, December 9th. Citigroup reissued a “buy” rating and issued a $96.00 target price (up previously from $84.00) on shares of NextEra Energy in a report on Wednesday, October 29th. Finally, Morgan Stanley dropped their target price on shares of NextEra Energy from $98.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, November 20th. Three investment 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. According to data from MarketBeat.com, NextEra Energy currently has an average rating of “Moderate Buy” and a consensus price target of $91.56.

NextEra Energy Trading Up 0.0%

Shares of NEE opened at $80.48 on Friday. The stock has a market capitalization of $167.62 billion, a PE ratio of 25.63, a P/E/G ratio of 2.70 and a beta of 0.74. The company’s fifty day moving average is $82.96 and its 200 day moving average is $77.27. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.45 and a current ratio of 0.55. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $87.53.

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

NextEra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 21st were given 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 was Friday, November 21st. NextEra Energy’s dividend payout ratio (DPR) is 71.97%.

Insiders Place Their Bets

In other news, CEO Armando Pimentel, Jr. sold 145,140 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $83.91, for a total value of $12,178,697.40. Following the transaction, the chief executive officer directly owned 162,693 shares in the company, valued at approximately $13,651,569.63. This represents a 47.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Charles E. Sieving sold 11,336 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was 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. This represents a 6.34% decrease in their position. The SEC filing for this sale provides additional information. 0.20% of the stock is currently owned by insiders.

NextEra Energy Profile

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.