Mechanics Financial Corp Sells 295 Shares of NextEra Energy, Inc. (NYSE:NEE)

Mechanics Financial Corp cut its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 1.6% in the 3rd quarter, Holdings Channel reports. The firm owned 18,638 shares of the utilities provider’s stock after selling 295 shares during the period. Mechanics Financial Corp’s holdings in NextEra Energy were worth $1,575,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NEE. Reston Wealth Management LLC acquired a new position in NextEra Energy during the 3rd quarter worth approximately $27,000. Semmax Financial Advisors Inc. increased its holdings in shares of NextEra Energy by 197.4% during the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock worth $26,000 after buying an additional 225 shares in the last quarter. Proffitt & Goodson Inc. lifted its stake in shares of NextEra Energy by 64.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 144 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of NextEra Energy during the 2nd quarter valued at $33,000. Finally, Maryland Capital Advisors Inc. bought a new stake in NextEra Energy during the 3rd quarter worth $39,000. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Stock Performance

Shares of NextEra Energy stock opened at $76.35 on Friday. The business has a 50-day moving average price of $81.53 and a two-hundred day moving average price of $77.48. NextEra Energy, Inc. has a 1-year low of $53.95 and a 1-year 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. The company has a market cap of $157.01 billion, a P/E ratio of 22.59, a PEG ratio of 2.76 and a beta of 0.57.

NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, topping 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 business had revenue of $7.57 billion during the quarter, compared to analysts’ expectations of $8.11 billion. During the same quarter last year, the firm posted $0.94 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. As a group, analysts anticipate that NextEra Energy, Inc. will post 3.41 EPS for the current year.

NextEra Energy Dividend Announcement

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

Insider Buying and Selling

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,007 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $75.57, for a total value of $302,808.99. Following the transaction, the executive vice president now owns 15,792 shares in the company, valued at approximately $1,193,401.44. This represents a 20.24 % 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. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Dbs Bank downgraded NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. BMO Capital Markets lifted their target price on shares of NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Bank of America boosted their target price 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. Jefferies Financial Group started coverage on shares of NextEra Energy in a research note on Thursday, September 19th. They set a “hold” rating and a $87.00 price target for the company. Finally, Royal Bank of Canada cut shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $86.54.

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.