First City Capital Management Inc. Cuts Stock Holdings in NextEra Energy, Inc. (NYSE:NEE)

First City Capital Management Inc. trimmed its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 52.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,742 shares of the utilities provider’s stock after selling 4,050 shares during the quarter. First City Capital Management Inc.’s holdings in NextEra Energy were worth $265,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC increased its holdings in shares of NextEra Energy by 14.7% during the 4th quarter. Empowered Funds LLC now owns 45,566 shares of the utilities provider’s stock valued at $3,267,000 after purchasing an additional 5,831 shares in the last quarter. Empower Advisory Group LLC increased its holdings in shares of NextEra Energy by 2.3% during the 4th quarter. Empower Advisory Group LLC now owns 1,823,327 shares of the utilities provider’s stock valued at $130,714,000 after purchasing an additional 41,328 shares in the last quarter. Somerset Trust Co increased its holdings in shares of NextEra Energy by 5.2% during the 1st quarter. Somerset Trust Co now owns 89,709 shares of the utilities provider’s stock valued at $6,359,000 after purchasing an additional 4,445 shares in the last quarter. Fortress Financial Solutions LLC purchased a new position in shares of NextEra Energy during the 4th quarter valued at approximately $315,000. Finally, Asset Planning Inc purchased a new position in shares of NextEra Energy during the 4th quarter valued at approximately $560,000. 78.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NEE has been the topic of a number of research analyst reports. BMO Capital Markets dropped their price target on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. UBS Group dropped their price target on shares of NextEra Energy from $94.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. JPMorgan Chase & Co. lifted their price target on shares of NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Morgan Stanley reissued an “overweight” rating on shares of NextEra Energy in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their price target on shares of NextEra Energy from $102.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.

NextEra Energy Stock Up 0.9%

Shares of NEE opened at $72.16 on Friday. The firm has a market cap of $148.55 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 2.45 and a beta of 0.68. NextEra Energy, Inc. has a 12-month low of $61.72 and a 12-month high of $86.10. The company’s 50-day moving average price is $68.45 and its 200 day moving average price is $70.64. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. The firm had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.58 billion. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. NextEra Energy’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. On average, sell-side analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.5665 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.27 annualized dividend and a yield of 3.14%. NextEra Energy’s dividend payout ratio (DPR) is currently 84.64%.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, EVP Charles E. Sieving sold 23,684 shares of NextEra Energy stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $70.00, for a total value of $1,657,880.00. Following the completion of the transaction, the executive vice president now directly owns 196,817 shares of the company’s stock, valued at $13,777,190. The trade was a 10.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

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.