Spinnaker Trust Sells 4,859 Shares of NextEra Energy, Inc. (NYSE:NEE)

Spinnaker Trust lessened its stake in NextEra Energy, Inc. (NYSE:NEE) by 3.8% in the third quarter, Holdings Channel reports. The firm owned 123,633 shares of the utilities provider’s stock after selling 4,859 shares during the quarter. Spinnaker Trust’s holdings in NextEra Energy were worth $10,451,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NEE. M&G Plc bought a new stake in shares of NextEra Energy during the 1st quarter worth $303,065,000. International Assets Investment Management LLC raised its stake in NextEra Energy by 8,641.5% during the third quarter. International Assets Investment Management LLC now owns 3,861,208 shares of the utilities provider’s stock worth $326,388,000 after acquiring an additional 3,817,037 shares in the last quarter. Zimmer Partners LP lifted its holdings in shares of NextEra Energy by 8,447.5% in the first quarter. Zimmer Partners LP now owns 2,735,200 shares of the utilities provider’s stock worth $174,807,000 after acquiring an additional 2,703,200 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of NextEra Energy by 4,058.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,366,795 shares of the utilities provider’s stock valued at $200,065,000 after purchasing an additional 2,309,876 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of NextEra Energy by 57.0% during the 2nd 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 last quarter. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Trading Down 4.9 %

Shares of NYSE:NEE traded down $3.84 during trading on Wednesday, reaching $74.81. The stock had a trading volume of 6,983,990 shares, compared to its average volume of 10,776,012. The stock has a market cap of $153.84 billion, a price-to-earnings ratio of 23.27, a P/E/G ratio of 2.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.33 and a current ratio of 0.41. NextEra Energy, Inc. has a 52 week low of $53.81 and a 52 week high of $86.10. The firm’s fifty day moving average is $82.32 and its 200 day moving average is $77.07.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The firm had revenue of $7.57 billion during the quarter, compared to analyst estimates of $8.11 billion. During the same period last year, the company posted $0.94 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that NextEra Energy, Inc. will post 3.41 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s payout ratio is 60.95%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NEE. Jefferies Financial Group initiated coverage on shares of NextEra Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $87.00 target price on the stock. Dbs Bank lowered NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Bank of America upped their target price on NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Morgan Stanley lifted their price target on NextEra Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company upped their price objective on NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $86.54.

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.