Axxcess Wealth Management LLC Sells 10,393 Shares of NextEra Energy, Inc. (NYSE:NEE)

Axxcess Wealth Management LLC reduced its holdings in NextEra Energy, Inc. (NYSE:NEE) by 8.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 107,989 shares of the utilities provider’s stock after selling 10,393 shares during the quarter. Axxcess Wealth Management LLC’s holdings in NextEra Energy were worth $9,128,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NEE. Intech Investment Management LLC increased its position in NextEra Energy by 35.7% during the 1st quarter. Intech Investment Management LLC now owns 100,308 shares of the utilities provider’s stock valued at $6,411,000 after purchasing an additional 26,382 shares during the period. Border to Coast Pensions Partnership Ltd raised its stake in NextEra Energy by 2.2% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 1,216,077 shares of the utilities provider’s stock worth $102,495,000 after buying an additional 26,270 shares in the last quarter. Ancora Advisors LLC lifted its holdings in NextEra Energy by 10.6% in the first quarter. Ancora Advisors LLC now owns 79,994 shares of the utilities provider’s stock worth $5,112,000 after buying an additional 7,677 shares during the period. Magnolia Capital Advisors LLC boosted its position in NextEra Energy by 1,224.3% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 72,453 shares of the utilities provider’s stock valued at $5,130,000 after acquiring an additional 66,982 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of NextEra Energy by 57.0% during the 2nd quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock worth $421,831,000 after acquiring an additional 2,163,437 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 opened at $76.97 on Friday. The company has a market cap of $158.28 billion, a price-to-earnings ratio of 22.77, a P/E/G ratio of 2.69 and a beta of 0.57. The business’s fifty day simple moving average is $82.05 and its two-hundred day simple moving average is $77.11. NextEra Energy, Inc. has a 12 month low of $53.81 and a 12 month high of $86.10. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11.

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

NextEra Energy Dividend Announcement

The business 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 dividend of $0.515 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.06 annualized dividend and a dividend yield of 2.68%. NextEra Energy’s payout ratio is 60.95%.

Analysts Set New Price Targets

A number of research firms have recently commented on NEE. Royal Bank of Canada cut NextEra Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Dbs Bank cut shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. BMO Capital Markets increased their price target 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. 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, JPMorgan Chase & Co. upped their price objective on shares of NextEra Energy from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NextEra Energy currently has an average rating of “Hold” and an average price target of $86.54.

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.