Convergence Financial LLC Sells 245 Shares of NextEra Energy, Inc. (NYSE:NEE)

Convergence Financial LLC reduced its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 4.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,019 shares of the utilities provider’s stock after selling 245 shares during the quarter. Convergence Financial LLC’s holdings in NextEra Energy were worth $360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NEE. Nordea Investment Management AB increased its stake in shares of NextEra Energy by 20.9% during the fourth quarter. Nordea Investment Management AB now owns 8,833,725 shares of the utilities provider’s stock valued at $634,703,000 after buying an additional 1,525,436 shares during the period. National Bank of Canada FI lifted its holdings in NextEra Energy by 167.7% in the third quarter. National Bank of Canada FI now owns 2,186,225 shares of the utilities provider’s stock worth $184,795,000 after buying an additional 1,369,689 shares during the period. Geode Capital Management LLC boosted its position in shares of NextEra Energy by 2.0% during the third quarter. Geode Capital Management LLC now owns 42,418,748 shares of the utilities provider’s stock valued at $3,571,650,000 after purchasing an additional 820,704 shares in the last quarter. Bank of New York Mellon Corp grew its stake in NextEra Energy by 4.2% in the fourth quarter. Bank of New York Mellon Corp now owns 14,523,786 shares of the utilities provider’s stock worth $1,041,210,000 after purchasing an additional 588,038 shares during the period. Finally, RWC Asset Management LLP raised its holdings in NextEra Energy by 313.0% in the fourth quarter. RWC Asset Management LLP now owns 673,317 shares of the utilities provider’s stock worth $48,270,000 after purchasing an additional 510,302 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Analysts Set New Price Targets

NEE has been the topic of a number of recent research reports. Scotiabank upped their target price on shares of NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Evercore ISI lowered their target price on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a report on Monday, January 27th. Morgan Stanley boosted their price target on NextEra Energy from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Jefferies Financial Group reduced their price target on NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. Finally, BMO Capital Markets upped their price objective on NextEra Energy from $82.00 to $84.00 in a research report on Monday, January 27th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $85.85.

NextEra Energy Trading Down 0.4 %

NextEra Energy stock opened at $70.97 on Thursday. NextEra Energy, Inc. has a 52-week low of $53.95 and a 52-week high of $86.10. The company has a market cap of $145.99 billion, a P/E ratio of 21.06, a P/E/G ratio of 2.45 and a beta of 0.58. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20. The business has a 50-day simple moving average of $70.47 and a two-hundred day simple moving average of $76.42.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. Analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $0.5665 per share. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Friday, February 28th. NextEra Energy’s payout ratio is presently 67.06%.

Insider Activity at NextEra Energy

In other news, CAO James Michael May sold 2,383 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total value of $162,258.47. Following the transaction, the chief accounting officer now directly owns 27,427 shares in the company, valued at $1,867,504.43. The trade was a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

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.