Pictet Asset Management Holding SA Sells 472,874 Shares of NextEra Energy, Inc. (NYSE:NEE)

Pictet Asset Management Holding SA trimmed its position in NextEra Energy, Inc. (NYSE:NEE) by 4.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 9,795,686 shares of the utilities provider’s stock after selling 472,874 shares during the period. NextEra Energy comprises 0.8% of Pictet Asset Management Holding SA’s investment portfolio, making the stock its 23rd largest holding. Pictet Asset Management Holding SA’s holdings in NextEra Energy were worth $702,253,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Burkett Financial Services LLC lifted its holdings in shares of NextEra Energy by 1,229.6% during the 4th quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 332 shares during the period. Sugar Maple Asset Management LLC acquired a new position in NextEra Energy in the fourth quarter worth about $28,000. Quarry LP bought a new position in NextEra Energy during the third quarter worth about $33,000. Luken Investment Analytics LLC acquired a new stake in NextEra Energy during the fourth quarter valued at approximately $36,000. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of NextEra Energy by 2,482.6% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 594 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 571 shares during the period. 78.72% of the stock is owned by institutional investors.

NextEra Energy Price Performance

NextEra Energy stock opened at $70.08 on Friday. The business’s 50-day simple moving average is $70.68 and its 200 day simple moving average is $75.27. 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 stock has a market cap of $144.15 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 2.45 and a beta of 0.58. NextEra Energy, Inc. has a 12-month low of $61.31 and a 12-month high of $86.10.

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

NextEra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.5665 per share. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.27 annualized dividend and a dividend yield of 3.23%. NextEra Energy’s payout ratio is presently 67.06%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Jefferies Financial Group cut their target price on NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. Guggenheim restated a “buy” rating and issued a $89.00 target price on shares of NextEra Energy in a research note on Thursday, March 20th. Morgan Stanley upped their target price on shares of NextEra Energy from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Evercore ISI cut their price target on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a report on Monday, January 27th. Finally, BMO Capital Markets upped their price objective on shares of NextEra Energy from $82.00 to $84.00 in a research note on Monday, January 27th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $85.92.

Insider Activity

In related news, CAO James Michael May sold 2,383 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total value of $162,258.47. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

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.