Logan Capital Management Inc. Cuts Position in NextEra Energy, Inc. (NYSE:NEE)

Logan Capital Management Inc. reduced its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 8.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 71,349 shares of the utilities provider’s stock after selling 6,257 shares during the quarter. Logan Capital Management Inc.’s holdings in NextEra Energy were worth $6,031,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NEE. International Assets Investment Management LLC grew its position in NextEra Energy by 8,641.5% in the 3rd quarter. International Assets Investment Management LLC now owns 3,861,208 shares of the utilities provider’s stock valued at $326,388,000 after acquiring an additional 3,817,037 shares during the last quarter. Assenagon Asset Management S.A. raised its position in NextEra Energy by 4,058.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,366,795 shares of the utilities provider’s stock worth $200,065,000 after buying an additional 2,309,876 shares during the last quarter. Raymond James & Associates lifted its position in NextEra Energy by 57.0% during the second quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock valued at $421,831,000 after purchasing an additional 2,163,437 shares during the period. LGT Group Foundation lifted its holdings in shares of NextEra Energy by 962.8% in the 2nd quarter. LGT Group Foundation now owns 1,514,482 shares of the utilities provider’s stock valued at $107,240,000 after buying an additional 1,371,982 shares during the period. Finally, National Bank of Canada FI boosted its position in NextEra Energy by 167.7% in the 3rd quarter. National Bank of Canada FI now owns 2,186,225 shares of the utilities provider’s stock worth $184,795,000 after purchasing an additional 1,369,689 shares in the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NEE. Jefferies Financial Group started coverage on shares of NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 price target on the stock. Morgan Stanley lowered their target price on NextEra Energy from $95.00 to $94.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. BMO Capital Markets boosted their target price on 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 objective on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Dbs Bank lowered shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $87.15.

NextEra Energy Stock Down 0.0 %

NYSE NEE traded down $0.03 on Friday, hitting $73.19. 504,238 shares of the stock traded hands, compared to its average volume of 10,765,941. 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 stock has a 50-day moving average of $78.61 and a 200 day moving average of $77.76. NextEra Energy, Inc. has a twelve month low of $53.95 and a twelve month high of $86.10. The company has a market capitalization of $150.51 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 2.67 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The company had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $8.11 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, analysts expect that NextEra Energy, Inc. will post 3.41 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s payout ratio is 60.95%.

Insider Transactions at NextEra Energy

In other news, EVP Nicole J. Daggs sold 4,007 shares of the company’s stock in a transaction that occurred on 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 SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

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.