Sit Investment Associates Inc. Cuts Stock Holdings in NextEra Energy, Inc. (NYSE:NEE)

Sit Investment Associates Inc. trimmed its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 34.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,763 shares of the utilities provider’s stock after selling 52,426 shares during the quarter. Sit Investment Associates Inc.’s holdings in NextEra Energy were worth $7,224,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Aviva PLC grew its position in shares of NextEra Energy by 0.4% during the fourth quarter. Aviva PLC now owns 1,636,664 shares of the utilities provider’s stock worth $117,332,000 after buying an additional 6,831 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of NextEra Energy in the 4th quarter valued at $1,373,000. Oarsman Capital Inc. lifted its position in shares of NextEra Energy by 12.0% during the 4th quarter. Oarsman Capital Inc. now owns 1,873 shares of the utilities provider’s stock worth $134,000 after purchasing an additional 201 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of NextEra Energy during the fourth quarter worth $43,776,000. Finally, Notis McConarty Edward increased its holdings in NextEra Energy by 3.4% in the fourth quarter. Notis McConarty Edward now owns 10,278 shares of the utilities provider’s stock valued at $737,000 after buying an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

Shares of NEE stock opened at $66.97 on Friday. The stock’s 50-day moving average price is $70.65 and its 200 day moving average price is $74.65. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20. The stock has a market capitalization 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, Inc. has a 52-week low of $61.31 and a 52-week high of $86.10.

NextEra Energy (NYSE:NEE) last released its earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) 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%. As a group, equities research analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $0.5665 dividend. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.27 annualized dividend and a dividend yield of 3.38%. NextEra Energy’s payout ratio is presently 67.06%.

Insider Transactions at NextEra Energy

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of NextEra Energy stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total value 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. The trade was a 7.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Evercore ISI decreased their price target on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a report on Monday, January 27th. Scotiabank upped their price target on NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Morgan Stanley increased their price target on shares of NextEra Energy from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. upped their target price on shares of NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Finally, Jefferies Financial Group cut their price target on shares of NextEra Energy from $81.00 to $77.00 in a research note on Monday, January 27th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $85.92.

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.