Wesbanco Bank Inc. Lowers Stock Position in NextEra Energy, Inc. $NEE

Wesbanco Bank Inc. decreased its position in NextEra Energy, Inc. (NYSE:NEE) by 35.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 214,178 shares of the utilities provider’s stock after selling 116,681 shares during the period. Wesbanco Bank Inc.’s holdings in NextEra Energy were worth $16,168,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its position in shares of NextEra Energy by 7.0% in the fourth quarter. Brighton Jones LLC now owns 28,282 shares of the utilities provider’s stock valued at $2,028,000 after buying an additional 1,840 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in NextEra Energy by 6.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,854 shares of the utilities provider’s stock valued at $348,000 after purchasing an additional 298 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of NextEra Energy by 38.4% in the first quarter. Acadian Asset Management LLC now owns 12,542 shares of the utilities provider’s stock valued at $887,000 after purchasing an additional 3,479 shares during the period. Sivia Capital Partners LLC grew its position in shares of NextEra Energy by 18.1% in the second quarter. Sivia Capital Partners LLC now owns 5,563 shares of the utilities provider’s stock valued at $386,000 after purchasing an additional 852 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of NextEra Energy by 5.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,343,301 shares of the utilities provider’s stock worth $171,202,000 after purchasing an additional 114,296 shares in the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NEE. New Street Research set a $84.00 price objective on NextEra Energy in a report on Monday, October 13th. BTIG Research restated a “buy” rating and issued a $103.00 target price on shares of NextEra Energy in a research report on Wednesday, January 28th. UBS Group set a $91.00 price target on NextEra Energy and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Wells Fargo & Company increased their price objective on NextEra Energy from $97.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Finally, Argus set a $92.00 target price on shares of NextEra Energy and gave the company a “buy” rating in a research report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.95.

Insider Activity at NextEra Energy

In other NextEra Energy news, EVP Charles E. Sieving sold 30,000 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $90.00, for a total transaction of $2,700,000.00. Following the sale, the executive vice president directly owned 167,481 shares in the company, valued at $15,073,290. This represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ronald R. Reagan sold 18,620 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $90.00, for a total transaction of $1,675,800.00. Following the sale, the executive vice president directly owned 9,643 shares in the company, valued at $867,870. This represents a 65.88% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 204,586 shares of company stock worth $17,474,707. 0.18% of the stock is currently owned by company insiders.

NextEra Energy Price Performance

Shares of NEE opened at $89.49 on Tuesday. The firm has a 50-day simple moving average of $82.97 and a two-hundred day simple moving average of $79.67. The stock has a market cap of $186.37 billion, a PE ratio of 27.20, a P/E/G ratio of 2.77 and a beta of 0.75. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $90.99. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.60 and a quick ratio of 0.49.

NextEra Energy (NYSE:NEE) last posted its earnings results on Tuesday, January 27th. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. NextEra Energy had a net margin of 24.93% and a return on equity of 12.18%. The firm had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter last year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current year.

About NextEra Energy

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.