Benin Management CORP Cuts Holdings in NextEra Energy, Inc. (NYSE:NEE)

Benin Management CORP decreased its position in NextEra Energy, Inc. (NYSE:NEE) by 5.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,458 shares of the utilities provider’s stock after selling 524 shares during the period. Benin Management CORP’s holdings in NextEra Energy were worth $715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEE. Sycomore Asset Management increased its stake in shares of NextEra Energy by 0.3% during the second quarter. Sycomore Asset Management now owns 47,341 shares of the utilities provider’s stock worth $3,473,000 after purchasing an additional 131 shares in the last quarter. BCK Partners Inc. boosted its holdings in NextEra Energy by 3.8% in the 2nd quarter. BCK Partners Inc. now owns 3,687 shares of the utilities provider’s stock valued at $261,000 after purchasing an additional 135 shares during the last quarter. Zhang Financial LLC lifted its holdings in shares of NextEra Energy by 3.0% in the 3rd quarter. Zhang Financial LLC now owns 4,562 shares of the utilities provider’s stock worth $386,000 after acquiring an additional 135 shares during the last quarter. Renasant Bank lifted its holdings in shares of NextEra Energy by 1.0% in the 1st quarter. Renasant Bank now owns 14,614 shares of the utilities provider’s stock worth $934,000 after acquiring an additional 142 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC increased its stake in NextEra Energy by 1.8% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 8,029 shares of the utilities provider’s stock worth $513,000 after buying an additional 143 shares during the period. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Price Performance

Shares of NEE traded down $0.06 during trading hours on Monday, reaching $84.32. The company had a trading volume of 1,099,610 shares, compared to its average volume of 10,740,942. The firm has a 50 day simple moving average of $81.81 and a 200-day simple moving average of $75.61. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $173.24 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.92 and a beta of 0.56. NextEra Energy, Inc. has a 12-month low of $50.95 and a 12-month high of $86.10.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $7.29 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. During the same quarter last year, the firm posted $0.88 EPS. Research analysts expect that NextEra Energy, Inc. will post 3.4 earnings per share for the current year.

NextEra Energy Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.44%. NextEra Energy’s dividend payout ratio (DPR) is currently 56.13%.

Insider Buying and Selling at NextEra Energy

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

Analyst Upgrades and Downgrades

NEE has been the topic of several recent research reports. Morgan Stanley upped their target price 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. Barclays increased their price target on shares of NextEra Energy from $76.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Scotiabank increased their price target 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. Wells Fargo & Company raised their target price on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Finally, Citigroup raised their target price on shares of NextEra Energy from $69.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $85.46.

NextEra Energy Company 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.