Lake Street Private Wealth LLC Trims Stake in NextEra Energy, Inc. (NYSE:NEE)

Lake Street Private Wealth LLC cut its position in NextEra Energy, Inc. (NYSE:NEE) by 45.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,632 shares of the utilities provider’s stock after selling 3,843 shares during the quarter. Lake Street Private Wealth LLC’s holdings in NextEra Energy were worth $392,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NEE. Legal & General Group Plc grew its position in shares of NextEra Energy by 0.7% during the second quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock worth $1,508,155,000 after acquiring an additional 143,748 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in NextEra Energy by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,178,185 shares of the utilities provider’s stock worth $579,097,000 after purchasing an additional 691,341 shares during the period. Nordea Investment Management AB grew its position in NextEra Energy by 22.3% during the 1st quarter. Nordea Investment Management AB now owns 6,961,556 shares of the utilities provider’s stock worth $443,834,000 after purchasing an additional 1,268,900 shares during the last quarter. Raymond James & Associates increased its stake in NextEra Energy by 14.3% in the third quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock valued at $575,573,000 after purchasing an additional 851,873 shares during the period. Finally, Principal Financial Group Inc. increased its stake in NextEra Energy by 7.2% in the second quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider’s stock valued at $431,966,000 after purchasing an additional 409,708 shares during the period. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Wall Street Analysts Forecast Growth

NEE has been the topic of a number of research reports. Scotiabank raised their price target on NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Bank of America lifted their target price on NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley upped their price target on NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price objective on shares of NextEra Energy from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Barclays boosted their price objective on shares of NextEra Energy from $76.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, NextEra Energy currently has a consensus rating of “Hold” and a consensus target price of $85.46.

Insider Buying and Selling

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.97, for a total value of $50,646.26. Following the sale, the executive vice president now owns 100 shares of the company’s stock, valued at approximately $7,697. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

NextEra Energy Stock Performance

Shares of NEE opened at $84.96 on Thursday. The company has a market capitalization of $174.55 billion, a PE ratio of 23.15, a P/E/G ratio of 2.92 and a beta of 0.56. NextEra Energy, Inc. has a 52-week low of $53.11 and a 52-week high of $86.10. The company has a 50-day simple moving average of $82.19 and a 200-day simple moving average of $75.96. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 1.15.

NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The company had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $7.29 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. During the same period last year, the company posted $0.88 earnings per share. Equities research analysts predict that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 2.42%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s payout ratio is currently 56.13%.

NextEra Energy Company 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.