Coastline Trust Co Cuts Position in NextEra Energy, Inc. (NYSE:NEE)

Coastline Trust Co lowered its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 47.3% during the third quarter, Holdings Channel reports. The institutional investor owned 7,229 shares of the utilities provider’s stock after selling 6,499 shares during the period. Coastline Trust Co’s holdings in NextEra Energy were worth $611,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proffitt & Goodson Inc. grew its holdings in shares of NextEra Energy by 64.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 144 shares during the period. Semmax Financial Advisors Inc. grew its holdings in NextEra Energy by 197.4% in the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 225 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of NextEra Energy in the third quarter valued at $27,000. Valley Wealth Managers Inc. acquired a new position in shares of NextEra Energy during the 2nd quarter worth $33,000. Finally, Maryland Capital Advisors Inc. acquired a new position in shares of NextEra Energy during the 3rd quarter worth $39,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Nicole J. Daggs sold 4,007 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total value of $302,808.99. Following the transaction, the executive vice president now owns 15,792 shares in the company, valued at approximately $1,193,401.44. This trade represents a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

NextEra Energy Price Performance

NextEra Energy stock opened at $76.33 on Friday. NextEra Energy, Inc. has a 1 year low of $53.95 and a 1 year high of $86.10. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.33 and a current ratio of 0.41. The firm has a 50 day moving average price of $81.53 and a 200 day moving average price of $77.41. The company has a market cap of $156.97 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 2.68 and a beta of 0.57.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. The company had revenue of $7.57 billion during the quarter, compared to analysts’ expectations of $8.11 billion. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. Sell-side analysts predict that NextEra Energy, Inc. will post 3.41 earnings per share for the current year.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be issued a $0.515 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.70%. NextEra Energy’s dividend payout ratio (DPR) is 60.95%.

Analysts Set New Price Targets

Several research firms have weighed in on NEE. Bank of America raised their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. BMO Capital Markets raised their price objective on shares of NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Jefferies Financial Group started coverage on NextEra Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $87.00 price objective for the company. Guggenheim raised their price target on NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Dbs Bank cut NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $86.54.

NextEra Energy 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.