Convergence Financial LLC Lowers Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Convergence Financial LLC lessened its holdings in NextEra Energy, Inc. (NYSE:NEE) by 6.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,264 shares of the utilities provider’s stock after selling 344 shares during the period. Convergence Financial LLC’s holdings in NextEra Energy were worth $445,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of NEE. Proffitt & Goodson Inc. lifted its position 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 worth $26,000 after purchasing an additional 144 shares during the period. Semmax Financial Advisors Inc. raised its stake in shares of NextEra Energy by 197.4% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 225 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in shares of NextEra Energy during the 2nd quarter worth approximately $33,000. Maryland Capital Advisors Inc. bought a new position in shares of NextEra Energy during the 3rd quarter worth approximately $39,000. Finally, Family Firm Inc. bought a new position in shares of NextEra Energy during the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Analyst Upgrades and Downgrades

NEE has been the topic of a number of recent analyst reports. Bank of America upped their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. BMO Capital Markets upped their price target on shares of NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Guggenheim increased their price objective on shares of NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley increased their price objective on shares of NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, Scotiabank increased their price objective on shares of NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. One research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.54.

NextEra Energy Stock Performance

NEE opened at $81.43 on Friday. The firm’s fifty day simple moving average is $82.36 and its two-hundred day simple moving average is $76.12. The company has a market cap of $167.30 billion, a price-to-earnings ratio of 22.19, 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. NextEra Energy, Inc. has a 52-week low of $53.81 and a 52-week high of $86.10.

NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The business had revenue of $7.57 billion during the quarter, compared to analysts’ expectations of $8.11 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. Equities analysts anticipate that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently disclosed 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. This represents a $2.06 annualized dividend and a yield of 2.53%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s payout ratio is currently 56.13%.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of NextEra Energy stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $76.97, for a total transaction of $50,646.26. Following the completion of the sale, the executive vice president now directly owns 100 shares in the company, valued at $7,697. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

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.