Cullen Capital Management LLC Has $182.48 Million Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Cullen Capital Management LLC lessened its holdings in NextEra Energy, Inc. (NYSE:NEE) by 3.9% during the fourth quarter, HoldingsChannel reports. The fund owned 2,545,339 shares of the utilities provider’s stock after selling 104,313 shares during the quarter. NextEra Energy accounts for about 2.1% of Cullen Capital Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Cullen Capital Management LLC’s holdings in NextEra Energy were worth $182,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Burkett Financial Services LLC raised its stake in shares of NextEra Energy by 1,229.6% in the fourth quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 332 shares during the last quarter. Sugar Maple Asset Management LLC purchased a new position in shares of NextEra Energy during the fourth quarter valued at approximately $28,000. Quarry LP bought a new stake in NextEra Energy during the third quarter worth $33,000. WealthTrak Capital Management LLC bought a new position in shares of NextEra Energy during the 4th quarter worth approximately $33,000. Finally, Luken Investment Analytics LLC purchased a new position in shares of NextEra Energy in the 4th quarter worth approximately $36,000. Institutional investors own 78.72% of the company’s stock.

Analyst Upgrades and Downgrades

NEE has been the subject of a number of research analyst reports. Scotiabank increased their price target on NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Jefferies Financial Group decreased their target price on NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. BMO Capital Markets raised their price objective on shares of NextEra Energy from $82.00 to $84.00 in a report on Monday, January 27th. Finally, Morgan Stanley lifted their price objective on shares of NextEra Energy from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $85.92.

NextEra Energy Stock Down 7.2 %

NEE opened at $66.97 on Friday. The company has a 50 day moving average of $70.65 and a 200 day moving average of $74.73. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20. NextEra Energy, Inc. has a 12 month low of $61.31 and a 12 month high of $86.10. The company has a market cap of $137.75 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 2.45 and a beta of 0.58.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. On average, sell-side analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.5665 per share. The ex-dividend date was Friday, February 28th. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 annualized dividend and a dividend yield of 3.38%. NextEra Energy’s dividend payout ratio is currently 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 that occurred on Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total transaction of $162,258.47. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

About NextEra Energy

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.