Penobscot Investment Management Company Inc. Decreases Stock Holdings in NextEra Energy, Inc. (NYSE:NEE)

Penobscot Investment Management Company Inc. reduced its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 2.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 229,972 shares of the utilities provider’s stock after selling 5,043 shares during the period. NextEra Energy comprises about 1.5% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 13th largest position. Penobscot Investment Management Company Inc.’s holdings in NextEra Energy were worth $16,303,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NEE. Norges Bank purchased a new stake in shares of NextEra Energy during the 4th quarter worth $3,484,197,000. Boston Partners purchased a new stake in NextEra Energy in the fourth quarter valued at $244,169,000. Two Sigma Advisers LP purchased a new stake in NextEra Energy in the fourth quarter valued at $240,269,000. Amundi lifted its position in NextEra Energy by 49.8% in the fourth quarter. Amundi now owns 9,543,552 shares of the utilities provider’s stock valued at $676,008,000 after acquiring an additional 3,172,405 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in NextEra Energy by 46.7% in the fourth quarter. California Public Employees Retirement System now owns 7,910,346 shares of the utilities provider’s stock valued at $567,093,000 after acquiring an additional 2,517,369 shares during the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NextEra Energy

In other news, EVP Charles E. Sieving sold 23,684 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 196,817 shares in the company, valued at $13,777,190. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.20% of the company’s stock.

NextEra Energy Trading Down 1.4%

NYSE NEE opened at $70.39 on Thursday. NextEra Energy, Inc. has a one year low of $61.72 and a one year high of $86.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.45 and a current ratio of 0.55. The firm’s fifty day moving average is $69.80 and its two-hundred day moving average is $70.22. The firm has a market cap of $144.91 billion, a PE ratio of 26.36, a P/E/G ratio of 2.52 and a beta of 0.68.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.99. NextEra Energy had a net margin of 21.81% and a return on equity of 12.06%. The business had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same period in the previous year, the business posted $0.91 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. Analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.5665 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.22%. NextEra Energy’s dividend payout ratio (DPR) is 84.64%.

Analyst Ratings Changes

NEE has been the subject of a number of research reports. Barclays reduced 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 research report on Tuesday, April 29th. JPMorgan Chase & Co. boosted their price target on shares of NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Morgan Stanley reduced their price target on shares of NextEra Energy from $95.00 to $94.00 and set an “overweight” rating for the company in a research report on Wednesday, June 18th. Erste Group Bank cut shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, BMO Capital Markets reduced their price target on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, NextEra Energy currently has an average rating of “Moderate Buy” and an average price target of $84.50.

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.