GM Advisory Group LLC Reduces Holdings in NextEra Energy, Inc. (NYSE:NEE)

GM Advisory Group LLC trimmed its stake in NextEra Energy, Inc. (NYSE:NEE) by 16.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,741 shares of the utilities provider’s stock after selling 3,120 shares during the period. GM Advisory Group LLC’s holdings in NextEra Energy were worth $1,331,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Legal & General Group Plc lifted its position in shares of NextEra Energy by 0.7% in the 2nd quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock worth $1,508,155,000 after purchasing an additional 143,748 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of NextEra Energy by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,284,785 shares of the utilities provider’s stock worth $1,122,963,000 after purchasing an additional 86,758 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of NextEra Energy by 5.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,630,775 shares of the utilities provider’s stock worth $729,559,000 after purchasing an additional 452,590 shares during the period. Raymond James & Associates lifted its position in NextEra Energy by 14.3% during the 3rd quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock valued at $575,573,000 after acquiring an additional 851,873 shares during the period. Finally, Principal Financial Group Inc. lifted its position in NextEra Energy by 7.2% during the 2nd quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider’s stock valued at $431,966,000 after acquiring an additional 409,708 shares during the period. 78.72% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Stock Performance

Shares of NEE stock opened at $77.37 on Friday. The company has a 50 day moving average price of $81.08 and a 200-day moving average price of $77.64. NextEra Energy, Inc. has a 52 week low of $53.95 and a 52 week high of $86.10. The firm has a market capitalization of $159.10 billion, a PE ratio of 22.89, a P/E/G ratio of 2.78 and a beta of 0.57. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.11.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The firm had revenue of $7.57 billion during the quarter, compared to analyst estimates of $8.11 billion. During the same period in the previous year, the business posted $0.94 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts expect that NextEra Energy, Inc. will post 3.41 earnings per share for the current year.

NextEra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.66%. NextEra Energy’s dividend payout ratio is presently 60.95%.

Analyst Ratings Changes

A number of research analysts recently issued reports on NEE shares. Scotiabank lifted their price target on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Dbs Bank cut shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Barclays lifted their price target on shares of NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Wells Fargo & Company lifted their price target on shares of NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Bank of America lifted their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $86.54.

Insider Transactions at NextEra Energy

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 of the company’s stock, 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 can be accessed through this link. Company insiders own 0.18% of the company’s stock.

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.