Pinnacle Associates Ltd. Has $20.37 Million Position in NextEra Energy, Inc. (NYSE:NEE)

Pinnacle Associates Ltd. reduced its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 8.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,919 shares of the utilities provider’s stock after selling 21,228 shares during the period. Pinnacle Associates Ltd.’s holdings in NextEra Energy were worth $20,365,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Semmax Financial Advisors Inc. lifted its stake in shares of NextEra Energy by 197.4% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 225 shares during the last quarter. Proffitt & Goodson Inc. raised its position in 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 purchasing an additional 144 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in NextEra Energy during the 2nd quarter valued at approximately $33,000. Maryland Capital Advisors Inc. acquired a new position in shares of NextEra Energy in the 3rd quarter worth approximately $39,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of NextEra Energy in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wells Fargo & Company increased their price target on NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Scotiabank lifted their price objective on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group began coverage on NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 target price for the company. BMO Capital Markets boosted their price objective on NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Bank of America boosted 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $86.54.

Insider Transactions at NextEra Energy

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.97, for a total transaction of $50,646.26. Following the transaction, the executive vice president now directly owns 100 shares of the company’s stock, valued at approximately $7,697. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by company insiders.

NextEra Energy Price Performance

NYSE NEE traded down $0.36 during trading hours on Wednesday, reaching $79.20. 3,240,608 shares of the stock traded hands, compared to its average volume of 10,728,516. The stock has a 50 day simple moving average of $82.44 and a two-hundred day simple moving average of $76.53. NextEra Energy, Inc. has a 1 year low of $53.81 and a 1 year high of $86.10. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.49 and a quick ratio of 0.41. The company has a market cap of $162.72 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 3.03 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $8.11 billion. During the same quarter in the prior year, the company earned $0.94 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. On average, analysts predict that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The company 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 $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s dividend payout ratio (DPR) is presently 56.13%.

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.