Cullen Capital Management LLC Sells 104,313 Shares of NextEra Energy, Inc. (NYSE:NEE)

Cullen Capital Management LLC lessened its holdings in NextEra Energy, Inc. (NYSE:NEE) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,545,339 shares of the utilities provider’s stock after selling 104,313 shares during the quarter. NextEra Energy accounts for approximately 2.1% of Cullen Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. Cullen Capital Management LLC owned about 0.12% of NextEra Energy worth $182,475,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Burkett Financial Services LLC grew its position in NextEra Energy by 1,229.6% in the fourth quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 332 shares during the last quarter. Sugar Maple Asset Management LLC bought a new stake in shares of NextEra Energy during the 4th quarter valued at approximately $28,000. Quarry LP acquired a new position in NextEra Energy during the 3rd quarter worth approximately $33,000. WealthTrak Capital Management LLC acquired a new position in NextEra Energy during the 4th quarter worth approximately $33,000. Finally, Luken Investment Analytics LLC bought a new position in NextEra Energy in the 4th quarter valued at approximately $36,000. Institutional investors own 78.72% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NEE. BMO Capital Markets upped their price target on shares of NextEra Energy from $82.00 to $84.00 in a report on Monday, January 27th. Scotiabank upped their target price on NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. Evercore ISI cut their price target on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a research note on Monday, January 27th. Morgan Stanley upped their price objective on NextEra Energy from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $85.92.

Insiders Place Their Bets

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of the stock in a transaction that occurred on 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 owns 27,427 shares in the company, valued at approximately $1,867,504.43. This represents 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 accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

NextEra Energy Price Performance

NEE stock opened at $66.97 on Friday. 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 firm has a market cap of $137.75 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 2.45 and a beta of 0.58. The company’s fifty day simple moving average is $70.65 and its 200 day simple moving average is $74.73. NextEra Energy, Inc. has a 12-month low of $61.31 and a 12-month high of $86.10.

NextEra Energy (NYSE:NEE) last announced 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 return on equity of 11.85% and a net margin of 28.06%. On average, analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $0.5665 per share. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 annualized dividend and a yield of 3.38%. NextEra Energy’s dividend payout ratio is currently 67.06%.

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.