Kennebec Savings Bank Raises Position in NextEra Energy, Inc. (NYSE:NEE)

Kennebec Savings Bank lifted its stake in NextEra Energy, Inc. (NYSE:NEE) by 74.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,742 shares of the utilities provider’s stock after acquiring an additional 3,299 shares during the quarter. Kennebec Savings Bank’s holdings in NextEra Energy were worth $549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Empowered Funds LLC boosted its position in shares of NextEra Energy by 14.7% in the fourth quarter. Empowered Funds LLC now owns 45,566 shares of the utilities provider’s stock worth $3,267,000 after buying an additional 5,831 shares during the period. Empower Advisory Group LLC boosted its holdings in NextEra Energy by 2.3% in the fourth 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 during the last quarter. Somerset Trust Co boosted its holdings in NextEra Energy by 5.2% in the first 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 during the last quarter. Fortress Financial Solutions LLC purchased a new position in NextEra Energy in the fourth quarter valued at about $315,000. Finally, Asset Planning Inc purchased a new position in NextEra Energy in the fourth quarter valued at about $560,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Trading Up 0.9%

Shares of NYSE NEE opened at $72.16 on Friday. The stock’s 50 day moving average price is $68.45 and its two-hundred day moving average price is $70.60. NextEra Energy, Inc. has a 52-week low of $61.72 and a 52-week high of $86.10. The stock has a market capitalization of $148.55 billion, a P/E ratio of 21.41, a PEG ratio of 2.45 and a beta of 0.68. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20.

NextEra Energy (NYSE:NEE) last announced 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. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. The firm had revenue of $6.25 billion for the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. NextEra Energy’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Monday, June 2nd. NextEra Energy’s payout ratio is 84.64%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NEE shares. BMO Capital Markets reduced their price target on NextEra Energy from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Barclays reduced their price target on NextEra Energy from $73.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company reduced their price target on NextEra Energy from $102.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Erste Group Bank downgraded NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Finally, UBS Group reduced their price target on NextEra Energy from $94.00 to $84.00 and set a “buy” rating for the company in a report on Friday, May 23rd. Eight equities 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, NextEra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.50.

Insider Transactions at NextEra Energy

In other news, EVP Charles E. Sieving sold 23,684 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the sale, the executive vice president now directly owns 196,817 shares in the company, valued at approximately $13,777,190. This represents a 10.74% 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. Insiders own 0.20% of the company’s stock.

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.