Ingalls & Snyder LLC Sells 3,095 Shares of NextEra Energy, Inc. $NEE

Ingalls & Snyder LLC cut its stake in NextEra Energy, Inc. (NYSE:NEE) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,971 shares of the utilities provider’s stock after selling 3,095 shares during the period. Ingalls & Snyder LLC’s holdings in NextEra Energy were worth $4,371,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NEE. Activest Wealth Management raised its stake in NextEra Energy by 79.7% during the second quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock worth $25,000 after buying an additional 157 shares during the last quarter. Harbor Asset Planning Inc. acquired a new stake in NextEra Energy during the 2nd quarter worth about $25,000. 1 North Wealth Services LLC acquired a new stake in NextEra Energy during the 1st quarter worth about $26,000. Nova Wealth Management Inc. bought a new stake in NextEra Energy during the 1st quarter valued at $32,000. Finally, IMA Advisory Services Inc. acquired a new position in NextEra Energy during the first quarter worth $35,000. Institutional investors own 78.72% of the company’s stock.

Analysts Set New Price Targets

NEE has been the subject of a number of analyst reports. HSBC reduced their price objective on shares of NextEra Energy from $88.00 to $86.00 and set a “buy” rating for the company in a report on Friday, July 11th. Evercore ISI set a $92.00 price target on NextEra Energy and gave the company an “outperform” rating in a research note on Monday, October 6th. Cowen assumed coverage on NextEra Energy in a research note on Wednesday, October 15th. They issued a “buy” rating for the company. Jefferies Financial Group restated a “hold” rating and issued a $85.00 target price (up previously from $77.00) on shares of NextEra Energy in a report on Tuesday, October 14th. Finally, Barclays set a $87.00 price target on NextEra Energy and gave the stock an “equal weight” rating in a report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, NextEra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $88.38.

NextEra Energy Stock Performance

Shares of NextEra Energy stock opened at $84.42 on Friday. The business’s fifty day simple moving average is $76.64 and its 200 day simple moving average is $72.84. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.74. The firm has a market capitalization of $173.85 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 2.85 and a beta of 0.66.

NextEra Energy (NYSE:NEE) last announced its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.04. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.52 billion. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The business’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $0.96 EPS. As a group, analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 21st will be given a $0.5665 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.27 annualized dividend and a yield of 2.7%. NextEra Energy’s payout ratio is currently 79.37%.

Insider Activity at NextEra Energy

In other NextEra Energy news, EVP Mark Lemasney sold 846 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $74.90, for a total value of $63,365.40. Following the transaction, the executive vice president directly owned 9,267 shares in the company, valued at $694,098.30. The trade was a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Coffey sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $71.84, for a total transaction of $538,800.00. Following the sale, the executive vice president owned 26,539 shares of the company’s stock, valued at approximately $1,906,561.76. The trade was a 22.03% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,528 shares of company stock worth $2,277,773. Insiders own 0.20% of the company’s stock.

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.