Truist Financial Corp Trims Stake in NextEra Energy, Inc. (NYSE:NEE)

Truist Financial Corp decreased its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,238,007 shares of the utilities provider’s stock after selling 14,424 shares during the quarter. Truist Financial Corp’s holdings in NextEra Energy were worth $88,753,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NEE. Reston Wealth Management LLC acquired a new stake in NextEra Energy during the third quarter worth approximately $27,000. Burkett Financial Services LLC lifted its stake in shares of NextEra Energy by 1,229.6% during the 4th 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 period. Sugar Maple Asset Management LLC acquired a new stake in shares of NextEra Energy during the fourth quarter worth $28,000. Quarry LP purchased a new stake in shares of NextEra Energy in the third quarter valued at $33,000. Finally, Maryland Capital Advisors Inc. acquired a new position in NextEra Energy in the third quarter valued at $39,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

NYSE:NEE opened at $68.06 on Tuesday. The firm has a 50-day moving average of $70.97 and a two-hundred day moving average of $76.84. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.47 and a quick ratio of 0.38. The stock has a market cap of $139.97 billion, a P/E ratio of 20.20, a PEG ratio of 2.42 and a beta of 0.58. NextEra Energy, Inc. has a 1-year low of $53.95 and a 1-year high of $86.10.

NextEra Energy (NYSE:NEE) last issued 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%. On average, research analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $0.5665 dividend. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 annualized dividend and a yield of 3.33%. NextEra Energy’s dividend payout ratio is currently 61.13%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NEE. Guggenheim upped their price objective on shares of NextEra Energy from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. dropped their price target on shares of NextEra Energy from $99.00 to $90.00 in a research report on Monday, January 27th. Scotiabank boosted their price objective on shares of NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Barclays upped their price objective on NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Evercore ISI reduced their target price on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a report on Monday, January 27th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $85.85.

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.