Logan Capital Management Inc. Sells 3,275 Shares of NextEra Energy, Inc. $NEE

Logan Capital Management Inc. trimmed its stake in NextEra Energy, Inc. (NYSE:NEE) by 4.9% during the first quarter, Holdings Channel reports. The fund owned 64,180 shares of the utilities provider’s stock after selling 3,275 shares during the quarter. Logan Capital Management Inc.’s holdings in NextEra Energy were worth $4,550,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Tradition Wealth Management LLC raised its stake in shares of NextEra Energy by 2.2% in the 1st quarter. Tradition Wealth Management LLC now owns 6,625 shares of the utilities provider’s stock valued at $470,000 after acquiring an additional 143 shares in the last quarter. Cim LLC increased its position in NextEra Energy by 0.5% in the 4th quarter. Cim LLC now owns 33,434 shares of the utilities provider’s stock worth $2,397,000 after buying an additional 158 shares during the period. Conning Inc. increased its position in NextEra Energy by 1.1% in the 1st quarter. Conning Inc. now owns 14,089 shares of the utilities provider’s stock worth $999,000 after buying an additional 160 shares during the period. Premier Path Wealth Partners LLC increased its position in NextEra Energy by 0.7% in the 1st quarter. Premier Path Wealth Partners LLC now owns 22,445 shares of the utilities provider’s stock worth $1,591,000 after buying an additional 166 shares during the period. Finally, Opal Wealth Advisors LLC increased its position in NextEra Energy by 2.9% in the 1st quarter. Opal Wealth Advisors LLC now owns 6,020 shares of the utilities provider’s stock worth $427,000 after buying an additional 168 shares during the period. 78.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on NEE. UBS Group dropped their price target on NextEra Energy from $94.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, May 23rd. Mizuho set a $78.00 price objective on NextEra Energy in a report on Thursday, August 21st. BMO Capital Markets lifted their price objective on NextEra Energy from $77.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Morgan Stanley reissued an “overweight” rating on shares of NextEra Energy in a report on Thursday, August 21st. Finally, HSBC decreased their price target on NextEra Energy from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $84.00.

Insiders Place Their Bets

In other news, Treasurer James Michael May sold 2,177 shares of the business’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total transaction of $168,717.50. Following the completion of the sale, the treasurer owned 27,662 shares in the company, valued at $2,143,805. The trade was a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert Coffey sold 7,500 shares of the business’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $71.84, for a total value 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. Insiders own 0.20% of the company’s stock.

NextEra Energy Trading Down 1.5%

Shares of NEE opened at $69.81 on Tuesday. The stock has a fifty day moving average price of $73.28 and a two-hundred day moving average price of $71.06. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54. NextEra Energy, Inc. has a 52-week low of $61.72 and a 52-week high of $86.10. The company has a market cap of $143.76 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.44 and a beta of 0.65.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data 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. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. Analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, August 28th will be given a dividend of $0.5665 per share. The ex-dividend date is Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.2%. NextEra Energy’s payout ratio is presently 79.02%.

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.