WealthPLAN Partners LLC Cuts Position in NextEra Energy, Inc. $NEE

WealthPLAN Partners LLC cut its stake in NextEra Energy, Inc. (NYSE:NEE) by 2.2% in the 2nd quarter, Holdings Channel reports. The fund owned 9,202 shares of the utilities provider’s stock after selling 209 shares during the quarter. WealthPLAN Partners LLC’s holdings in NextEra Energy were worth $639,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1 North Wealth Services LLC purchased a new position in NextEra Energy in the first quarter worth $26,000. Nova Wealth Management Inc. purchased a new position in NextEra Energy in the first quarter worth $32,000. IMA Advisory Services Inc. purchased a new position in NextEra Energy in the first quarter worth $35,000. Semmax Financial Advisors Inc. grew its position in NextEra Energy by 335.0% in the first quarter. Semmax Financial Advisors Inc. now owns 509 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 392 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its position in NextEra Energy by 237.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 366 shares in the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Robert Coffey sold 7,500 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $71.84, for a total value of $538,800.00. Following the completion of the transaction, the executive vice president directly owned 26,539 shares of the company’s stock, valued at $1,906,561.76. This represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Lemasney sold 846 shares of the stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the transaction, the executive vice president directly owned 9,267 shares of the company’s stock, valued at approximately $694,098.30. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,705 shares of company stock valued at $2,446,490. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NEE has been the subject of several analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of NextEra Energy in a research report on Tuesday. New Street Research set a $84.00 price target on shares of NextEra Energy in a research report on Monday. BMO Capital Markets upped their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Jefferies Financial Group restated a “hold” rating and set a $85.00 price target (up from $77.00) on shares of NextEra Energy in a research report on Tuesday. Finally, Mizuho set a $78.00 price target on shares of NextEra Energy in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.57.

NextEra Energy Stock Performance

Shares of NYSE:NEE opened at $85.73 on Thursday. The company has a market cap of $176.53 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 2.86 and a beta of 0.66. The company has a 50-day moving average price of $75.05 and a 200-day moving average price of $72.03. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.49.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 earnings per share. As a group, equities analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 28th were paid a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, August 28th. NextEra Energy’s dividend payout ratio is 79.37%.

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.