Spinnaker Trust Sells 34,989 Shares of NextEra Energy, Inc. (NYSE:NEE)

Spinnaker Trust lowered its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 28.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 88,644 shares of the utilities provider’s stock after selling 34,989 shares during the quarter. Spinnaker Trust’s holdings in NextEra Energy were worth $6,355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEE. PUREfi Wealth LLC acquired a new stake in shares of NextEra Energy during the fourth quarter worth about $424,000. Adell Harriman & Carpenter Inc. raised its position in shares of NextEra Energy by 2.2% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 60,726 shares of the utilities provider’s stock worth $4,353,000 after purchasing an additional 1,318 shares during the period. Valeo Financial Advisors LLC raised its position in shares of NextEra Energy by 1.8% during the fourth quarter. Valeo Financial Advisors LLC now owns 28,241 shares of the utilities provider’s stock worth $2,025,000 after purchasing an additional 508 shares during the period. Blue Trust Inc. raised its position in shares of NextEra Energy by 1.5% during the fourth quarter. Blue Trust Inc. now owns 37,433 shares of the utilities provider’s stock worth $2,684,000 after purchasing an additional 559 shares during the period. Finally, Campbell Wealth Management raised its position in shares of NextEra Energy by 22.0% during the fourth quarter. Campbell Wealth Management now owns 13,775 shares of the utilities provider’s stock worth $988,000 after purchasing an additional 2,486 shares during the period. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Down 0.8 %

NYSE:NEE opened at $68.06 on Friday. The firm has a market capitalization of $139.97 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 2.42 and a beta of 0.58. NextEra Energy, Inc. has a twelve month low of $53.95 and a twelve month high of $86.10. The stock’s 50 day moving average price is $71.12 and its two-hundred day moving average price is $76.86. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. Equities research analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $0.5665 per share. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 annualized dividend and a dividend yield of 3.33%. NextEra Energy’s payout ratio is 61.13%.

Analysts Set New Price Targets

NEE has been the topic of a number of research analyst reports. Guggenheim raised their price target on NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Evercore ISI dropped their price target on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a research report on Monday, January 27th. Scotiabank raised their price target on NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Morgan Stanley lifted their target price on NextEra Energy from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. dropped their target price on NextEra Energy from $99.00 to $90.00 in a research report on Monday, January 27th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $85.85.

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.