Cullinan Associates Inc. Sells 124 Shares of NextEra Energy, Inc. (NYSE:NEE)

Cullinan Associates Inc. cut its holdings in NextEra Energy, Inc. (NYSE:NEE) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,604 shares of the utilities provider’s stock after selling 124 shares during the period. Cullinan Associates Inc.’s holdings in NextEra Energy were worth $2,404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEE. Proffitt & Goodson Inc. boosted its holdings in shares of NextEra Energy by 64.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock worth $26,000 after buying an additional 144 shares in the last quarter. Semmax Financial Advisors Inc. grew its holdings in NextEra Energy by 197.4% in the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 225 shares during the period. Valley Wealth Managers Inc. acquired a new position in shares of NextEra Energy during the second quarter valued at about $33,000. Maryland Capital Advisors Inc. bought a new position in shares of NextEra Energy during the 3rd quarter worth about $39,000. Finally, Family Firm Inc. bought a new stake in NextEra Energy in the 2nd quarter valued at about $40,000. 78.72% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Stock Performance

NEE stock traded down $0.16 during midday trading on Friday, hitting $82.65. The company’s stock had a trading volume of 664,605 shares, compared to its average volume of 10,704,921. The stock has a market cap of $169.81 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 2.92 and a beta of 0.56. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 1.15. The stock’s 50-day moving average price is $82.19 and its 200 day moving average price is $75.96. NextEra Energy, Inc. has a 1 year low of $53.81 and a 1 year high of $86.10.

NextEra Energy (NYSE:NEE) last issued its quarterly 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 24.45% and a return on equity of 11.75%. The company had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $8.11 billion. During the same period in the previous year, the firm earned $0.94 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts forecast that NextEra Energy, Inc. will post 3.4 EPS for the current year.

NextEra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be issued a $0.515 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.49%. NextEra Energy’s dividend payout ratio (DPR) is presently 56.13%.

Analysts Set New Price Targets

A number of brokerages have commented on NEE. Barclays raised their price objective on NextEra Energy from $76.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Morgan Stanley upped their price objective on shares of NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. BMO Capital Markets boosted 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. Scotiabank raised their price target on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Dbs Bank lowered NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, NextEra Energy currently has a consensus rating of “Hold” and an average price target of $86.38.

Insider Activity at NextEra Energy

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 100 shares of the company’s stock, valued at $7,697. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is owned by company insiders.

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.