Pinnacle Financial Partners Inc. reduced its stake in NextEra Energy Inc (NYSE:NEE) by 23.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,353 shares of the utilities provider’s stock after selling 1,048 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in NextEra Energy were worth $491,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new stake in NextEra Energy during the 2nd quarter worth approximately $1,289,000. Almanack Investment Partners LLC. lifted its holdings in NextEra Energy by 64.6% during the 2nd quarter. Almanack Investment Partners LLC. now owns 2,163 shares of the utilities provider’s stock worth $303,000 after buying an additional 849 shares in the last quarter. Colony Group LLC lifted its holdings in NextEra Energy by 806.4% during the 2nd quarter. Colony Group LLC now owns 15,517 shares of the utilities provider’s stock worth $2,174,000 after buying an additional 13,805 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in NextEra Energy by 12.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 9,001 shares of the utilities provider’s stock worth $1,154,000 after buying an additional 1,012 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. acquired a new stake in NextEra Energy during the 2nd quarter worth approximately $9,809,000. Hedge funds and other institutional investors own 75.63% of the company’s stock.
Shares of NextEra Energy Inc (NYSE NEE) traded down $0.60 during trading hours on Thursday, hitting $156.47. 3,603,000 shares of the company’s stock were exchanged, compared to its average volume of 1,691,005. NextEra Energy Inc has a 52 week low of $114.85 and a 52 week high of $159.40. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.49 and a current ratio of 0.61. The stock has a market cap of $73,899.47, a P/E ratio of 23.55, a PEG ratio of 3.13 and a beta of 0.31.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be given a $0.9825 dividend. This represents a $3.93 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, November 22nd. NextEra Energy’s dividend payout ratio (DPR) is 44.16%.
A number of research firms have issued reports on NEE. Morgan Stanley increased their target price on shares of NextEra Energy from $173.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday. Zacks Investment Research upgraded shares of NextEra Energy from a “hold” rating to a “buy” rating and set a $178.00 target price on the stock in a report on Tuesday. Credit Suisse Group began coverage on shares of NextEra Energy in a report on Thursday, December 7th. They set an “outperform” rating and a $173.00 target price on the stock. Argus reiterated a “buy” rating and set a $173.00 target price on shares of NextEra Energy in a report on Tuesday, December 5th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $156.00 target price on shares of NextEra Energy in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $159.00.
In related news, Director James L. Robo sold 30,000 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $151.52, for a total value of $4,545,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Armando Pimentel, Jr. sold 42,372 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $157.45, for a total transaction of $6,671,471.40. Following the completion of the transaction, the chief executive officer now directly owns 121,958 shares in the company, valued at $19,202,287.10. The disclosure for this sale can be found here. Insiders sold a total of 107,757 shares of company stock worth $16,419,953 over the last ninety days. Insiders own 0.53% of the company’s stock.
NextEra Energy Company Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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