City State Bank Sells 246 Shares of NextEra Energy, Inc. $NEE

City State Bank lessened its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 2.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 10,401 shares of the utilities provider’s stock after selling 246 shares during the period. City State Bank’s holdings in NextEra Energy were worth $722,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Activest Wealth Management grew its holdings in NextEra Energy by 79.7% during the second quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 157 shares during the period. Harbor Asset Planning Inc. bought a new position in shares of NextEra Energy in the second quarter worth about $25,000. 1 North Wealth Services LLC bought a new position in shares of NextEra Energy in the first quarter worth about $26,000. Nova Wealth Management Inc. bought a new position in shares of NextEra Energy in the first quarter worth about $32,000. Finally, IMA Advisory Services Inc. bought a new position in shares of NextEra Energy in the first quarter worth about $35,000. Institutional investors own 78.72% of the company’s stock.

Insider Buying and Selling

In other NextEra Energy news, EVP Mark Lemasney sold 846 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total transaction of $63,365.40. Following the sale, the executive vice president directly owned 9,267 shares in the company, valued at $694,098.30. This represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Charles E. Sieving sold 11,336 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total value of $906,880.00. Following the sale, the executive vice president owned 167,481 shares in the company, valued at approximately $13,398,480. This trade represents a 6.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,528 shares of company stock valued at $2,277,773. 0.20% of the stock is currently owned by company insiders.

NextEra Energy Price Performance

Shares of NextEra Energy stock opened at $84.42 on Friday. The stock has a 50 day moving average of $76.64 and a 200 day moving average of $72.78. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.74. The firm has a market cap of $173.85 billion, a PE ratio of 29.52, a PEG ratio of 2.81 and a beta of 0.66. 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 (NYSE:NEE) last announced its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same period in the prior year, the company earned $0.96 earnings per share. The firm’s revenue was up 10.4% on a year-over-year basis. On average, research analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 21st will be given a dividend of $0.5665 per share. The ex-dividend date is Friday, November 21st. This represents a $2.27 dividend on an annualized basis and a yield of 2.7%. NextEra Energy’s dividend payout ratio is 79.37%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NEE. New Street Research set a $84.00 price objective on NextEra Energy in a research note on Monday, October 13th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $85.00 price objective (up previously from $77.00) on shares of NextEra Energy in a research note on Tuesday, October 14th. TD Cowen began coverage on NextEra Energy in a research note on Thursday, October 16th. They issued a “buy” rating and a $98.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on NextEra Energy from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, August 22nd. Finally, Evercore ISI set a $92.00 price target on NextEra Energy and gave the company an “outperform” rating in a research note on Monday, October 6th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.38.

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.