Chesapeake Wealth Management Reduces Position in NextEra Energy, Inc. (NYSE:NEE)

Chesapeake Wealth Management lowered its holdings in NextEra Energy, Inc. (NYSE:NEE) by 1.2% in the third quarter, HoldingsChannel reports. The firm owned 29,491 shares of the utilities provider’s stock after selling 364 shares during the period. Chesapeake Wealth Management’s holdings in NextEra Energy were worth $2,493,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Tandem Capital Management Corp ADV boosted its stake in shares of NextEra Energy by 1.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 9,935 shares of the utilities provider’s stock valued at $840,000 after buying an additional 125 shares during the last quarter. Taylor & Morgan Wealth Management LLC boosted its stake in NextEra Energy by 1.7% during the 3rd quarter. Taylor & Morgan Wealth Management LLC now owns 7,744 shares of the utilities provider’s stock valued at $655,000 after acquiring an additional 126 shares during the last quarter. Insight Folios Inc grew its holdings in NextEra Energy by 1.5% during the 3rd quarter. Insight Folios Inc now owns 8,439 shares of the utilities provider’s stock worth $713,000 after acquiring an additional 126 shares in the last quarter. Osborne Partners Capital Management LLC increased its position in shares of NextEra Energy by 1.2% in the 3rd quarter. Osborne Partners Capital Management LLC now owns 10,724 shares of the utilities provider’s stock worth $906,000 after purchasing an additional 128 shares during the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of NextEra Energy by 0.4% in the 3rd quarter. Boston Trust Walden Corp now owns 30,720 shares of the utilities provider’s stock valued at $2,597,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

Insiders Place Their Bets

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,007 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total value of $302,808.99. Following the completion of the sale, the executive vice president now directly owns 15,792 shares of the company’s stock, valued at approximately $1,193,401.44. This represents a 20.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on NEE. BMO Capital Markets boosted their price objective on NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Scotiabank raised their price objective on NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on shares of NextEra Energy from $91.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Bank of America raised their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley boosted their price objective on shares of NextEra Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Eight research 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.com, the stock has an average rating of “Hold” and an average target price of $86.54.

NextEra Energy Stock Up 0.1 %

Shares of NextEra Energy stock opened at $76.39 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33. NextEra Energy, Inc. has a 1-year low of $53.95 and a 1-year high of $86.10. The business’s fifty day moving average price is $81.43 and its two-hundred day moving average price is $77.60. The company has a market capitalization of $157.09 billion, a P/E ratio of 22.60, a PEG ratio of 2.76 and a beta of 0.57.

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

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 annualized dividend and a yield of 2.70%. NextEra Energy’s payout ratio is 60.95%.

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.