Grimes & Company Inc. Decreases Stake in NextEra Energy, Inc. (NYSE:NEE)

Grimes & Company Inc. lessened its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 5.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,070 shares of the utilities provider’s stock after selling 884 shares during the quarter. Grimes & Company Inc.’s holdings in NextEra Energy were worth $997,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NEE. Norges Bank bought a new position in shares of NextEra Energy during the 4th quarter valued at approximately $3,484,197,000. Boston Partners purchased a new stake in NextEra Energy during the fourth quarter valued at $244,169,000. Two Sigma Advisers LP bought a new position in NextEra Energy during the fourth quarter valued at $240,269,000. Amundi lifted its position in NextEra Energy by 49.8% during the fourth quarter. Amundi now owns 9,543,552 shares of the utilities provider’s stock valued at $676,008,000 after purchasing an additional 3,172,405 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of NextEra Energy by 46.7% in the 4th quarter. California Public Employees Retirement System now owns 7,910,346 shares of the utilities provider’s stock worth $567,093,000 after buying an additional 2,517,369 shares in the last quarter. Institutional investors own 78.72% of the company’s stock.

Insider Buying and Selling

In related news, EVP Charles E. Sieving sold 23,684 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the completion of the sale, the executive vice president now owns 196,817 shares of the company’s stock, valued at $13,777,190. This represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by insiders.

NextEra Energy Price Performance

NEE opened at $71.92 on Wednesday. The stock has a market cap of $148.05 billion, a P/E ratio of 26.93, a PEG ratio of 2.60 and a beta of 0.68. NextEra Energy, Inc. has a 52-week low of $61.72 and a 52-week high of $86.10. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.32. The business has a fifty day moving average of $69.28 and a 200 day moving average of $70.38.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.99. NextEra Energy had a return on equity of 12.06% and a net margin of 21.81%. The firm had revenue of $6.25 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. NextEra Energy’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.5665 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.27 annualized dividend and a dividend yield of 3.15%. NextEra Energy’s dividend payout ratio is currently 85.02%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NEE shares. Barclays lowered their price target on shares of 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 lowered their price objective on NextEra Energy from $102.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. UBS Group dropped their target price on NextEra Energy from $94.00 to $84.00 and set a “buy” rating for the company in a report on Friday, May 23rd. BMO Capital Markets decreased their price target on NextEra Energy from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. raised their price target on NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $84.50.

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.