Cramer Rosenthal Mcglynn LLC Has $4.04 Million Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Cramer Rosenthal Mcglynn LLC reduced its stake in NextEra Energy, Inc. (NYSE:NEE) by 66.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 56,413 shares of the utilities provider’s stock after selling 113,556 shares during the period. Cramer Rosenthal Mcglynn LLC’s holdings in NextEra Energy were worth $4,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of NEE. Tobias Financial Advisors Inc. acquired a new stake in shares of NextEra Energy in the 4th quarter valued at $251,000. Canada Pension Plan Investment Board raised its holdings in NextEra Energy by 5.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,476,650 shares of the utilities provider’s stock worth $249,241,000 after purchasing an additional 192,178 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in NextEra Energy in the fourth quarter valued at $140,000. MSH Capital Advisors LLC acquired a new stake in NextEra Energy during the fourth quarter worth approximately $452,000. Finally, NewEdge Advisors LLC increased its stake in shares of NextEra Energy by 11.4% in the 4th quarter. NewEdge Advisors LLC now owns 335,734 shares of the utilities provider’s stock valued at $24,069,000 after acquiring an additional 34,474 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on NEE. Evercore ISI lowered their target price on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a report on Monday, January 27th. Erste Group Bank upgraded shares of NextEra Energy to a “strong-buy” rating in a research note on Wednesday. BMO Capital Markets lowered their price objective on NextEra Energy from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Monday. Guggenheim restated a “buy” rating and issued a $89.00 target price on shares of NextEra Energy in a research note on Thursday, March 20th. Finally, Jefferies Financial Group reduced their target price on NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.15.

NextEra Energy Price Performance

NYSE NEE opened at $66.29 on Friday. The business’s fifty day moving average is $69.71 and its 200 day moving average is $73.44. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.38 and a current ratio of 0.47. The company has a market capitalization of $136.47 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 2.45 and a beta of 0.58.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. Sell-side analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $0.5665 dividend. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Friday, February 28th. NextEra Energy’s dividend payout ratio is presently 67.06%.

Insider Transactions at NextEra Energy

In related news, CAO James Michael May sold 2,383 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total value of $162,258.47. Following the completion of the transaction, the chief accounting officer now owns 27,427 shares of the company’s stock, valued at approximately $1,867,504.43. This represents a 7.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.18% 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.