Financial Enhancement Group LLC Trims Stake in NextEra Energy, Inc. (NYSE:NEE)

Financial Enhancement Group LLC cut its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 15.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,563 shares of the utilities provider’s stock after selling 8,986 shares during the period. Financial Enhancement Group LLC’s holdings in NextEra Energy were worth $3,885,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. BCK Partners Inc. grew its stake in shares of NextEra Energy by 3.8% during the second quarter. BCK Partners Inc. now owns 3,687 shares of the utilities provider’s stock valued at $261,000 after buying an additional 135 shares during the last quarter. Renasant Bank grew its position in NextEra Energy by 1.0% in the 1st quarter. Renasant Bank now owns 14,614 shares of the utilities provider’s stock valued at $934,000 after acquiring an additional 142 shares during the last quarter. Stonebridge Capital Advisors LLC grew its position in NextEra Energy by 1.8% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 8,029 shares of the utilities provider’s stock valued at $513,000 after acquiring an additional 143 shares during the last quarter. Proffitt & Goodson Inc. increased its stake in NextEra Energy by 64.0% in the second quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 144 shares during the period. Finally, NorthCrest Asset Manangement LLC lifted its position in shares of NextEra Energy by 1.0% during the second quarter. NorthCrest Asset Manangement LLC now owns 15,194 shares of the utilities provider’s stock worth $1,076,000 after purchasing an additional 146 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Nicole J. Daggs sold 658 shares of NextEra Energy stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.97, for a total value of $50,646.26. Following the sale, the executive vice president now directly owns 100 shares of the company’s stock, valued at $7,697. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

NextEra Energy Stock Performance

NYSE NEE traded up $1.04 on Wednesday, hitting $80.97. 1,323,801 shares of the company’s stock traded hands, compared to its average volume of 10,997,149. The firm has a market capitalization of $166.36 billion, a PE ratio of 21.78, a P/E/G ratio of 2.92 and a beta of 0.54. NextEra Energy, Inc. has a 1-year low of $47.15 and a 1-year high of $81.54. The firm’s 50-day moving average price is $75.66 and its two-hundred day moving average price is $69.99. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15.

NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The firm had revenue of $6.07 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same period in the previous year, the firm earned $0.88 EPS. As a group, analysts expect that NextEra Energy, Inc. will post 3.39 EPS for the current year.

NextEra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 2.54%. NextEra Energy’s dividend payout ratio is currently 56.13%.

Analyst Ratings Changes

NEE has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday. Evercore ISI upped their target price on shares of NextEra Energy from $70.00 to $75.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 12th. Citigroup lifted their price target on shares of NextEra Energy from $69.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Royal Bank of Canada raised their price target on NextEra Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. Finally, Bank of America lifted their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, NextEra Energy presently has an average rating of “Moderate Buy” and an average target price of $81.50.

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.