Proficio Capital Partners LLC Cuts Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Proficio Capital Partners LLC cut its holdings in NextEra Energy, Inc. (NYSE:NEE) by 44.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,022 shares of the utilities provider’s stock after selling 5,619 shares during the quarter. Proficio Capital Partners LLC’s holdings in NextEra Energy were worth $594,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NEE. Proffitt & Goodson Inc. increased its position in shares of NextEra Energy by 64.0% during the second quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 144 shares in the last quarter. 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 purchasing an additional 225 shares during the last quarter. Reston Wealth Management LLC acquired a new position in NextEra Energy during the 3rd quarter worth about $27,000. Valley Wealth Managers Inc. acquired a new position in NextEra Energy during the 2nd quarter worth about $33,000. Finally, Maryland Capital Advisors Inc. acquired a new position in NextEra Energy during the 3rd quarter worth about $39,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Trading Up 3.1 %

Shares of NEE stock opened at $76.97 on Friday. The business’s 50 day moving average is $82.05 and its two-hundred day moving average is $77.11. NextEra Energy, Inc. has a twelve month low of $53.81 and a twelve month high of $86.10. The company has a market capitalization of $158.28 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 2.69 and a beta of 0.57. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $8.11 billion. During the same period in the previous year, the business earned $0.94 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts forecast that NextEra Energy, Inc. will post 3.41 EPS for the current year.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.68%. NextEra Energy’s dividend payout ratio (DPR) is presently 60.95%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NEE. BMO Capital Markets upped their price target on NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Guggenheim raised their target price on NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Jefferies Financial Group assumed coverage on NextEra Energy in a research report on Thursday, September 19th. They set 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. Finally, Scotiabank lifted their price target on NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $86.54.

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.