Alliancebernstein L.P. Reduces Stock Holdings in NextEra Energy, Inc. $NEE

Alliancebernstein L.P. cut its holdings in NextEra Energy, Inc. (NYSE:NEE) by 5.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,587,588 shares of the utilities provider’s stock after selling 340,316 shares during the quarter. Alliancebernstein L.P. owned about 0.27% of NextEra Energy worth $421,807,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Tripletail Wealth Management LLC acquired a new stake in shares of NextEra Energy during the third quarter worth $25,000. Goodman Advisory Group LLC acquired a new position in shares of NextEra Energy in the 2nd quarter valued at $25,000. Howard Hughes Medical Institute acquired a new position in shares of NextEra Energy in the 2nd quarter valued at $31,000. Abound Wealth Management raised its stake in NextEra Energy by 108.2% in the 3rd quarter. Abound Wealth Management now owns 456 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 237 shares during the last quarter. Finally, Rexford Capital Inc. purchased a new position in NextEra Energy in the 2nd quarter worth $34,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Price Performance

Shares of NEE opened at $92.81 on Monday. The business’s 50-day moving average is $88.42 and its two-hundred day moving average is $82.95. The company has a market capitalization of $193.38 billion, a P/E ratio of 28.21 and a beta of 0.75. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $95.91. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.49 and a current ratio of 0.60.

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

NextEra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a $0.6232 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is a boost from NextEra Energy’s previous quarterly dividend of $0.57. This represents a $2.49 dividend on an annualized basis and a yield of 2.7%. NextEra Energy’s dividend payout ratio is presently 75.68%.

Insiders Place Their Bets

In related news, Treasurer James Michael May sold 7,161 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $90.27, for a total value of $646,423.47. Following the completion of the transaction, the treasurer directly owned 26,719 shares in the company, valued at $2,411,924.13. The trade was a 21.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ronald R. Reagan sold 18,620 shares of the stock in a transaction on 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 trade represents a 65.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 185,882 shares of company stock worth $16,616,757. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Jefferies Financial Group set a $87.00 price target on NextEra Energy in a research note on Wednesday, January 14th. Erste Group Bank upgraded NextEra Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 18th. Wells Fargo & Company lifted their target price on NextEra Energy from $97.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. BMO Capital Markets set a $95.00 target price on NextEra Energy in a research report on Thursday, January 29th. Finally, BTIG Research reiterated a “buy” rating and issued a $103.00 price target on shares of NextEra Energy in a report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, NextEra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.16.

NextEra Energy Company 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.