Taurus Asset Management LLC Cuts Position in NextEra Energy, Inc. (NYSE:NEE)

Taurus Asset Management LLC decreased its holdings in NextEra Energy, Inc. (NYSE:NEE) by 0.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 275,840 shares of the utilities provider’s stock after selling 2,300 shares during the quarter. NextEra Energy accounts for about 2.0% of Taurus Asset Management LLC’s holdings, making the stock its 20th largest holding. Taurus Asset Management LLC’s holdings in NextEra Energy were worth $19,532,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NEE. Proffitt & Goodson Inc. grew its position in shares of NextEra Energy by 64.0% in the second quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 144 shares during the period. Clear Investment Research LLC boosted its holdings in NextEra Energy by 387.2% in the 4th quarter. Clear Investment Research LLC now owns 458 shares of the utilities provider’s stock worth $28,000 after buying an additional 364 shares during the last quarter. American Capital Advisory LLC increased its stake in NextEra Energy by 74.5% during the 1st quarter. American Capital Advisory LLC now owns 480 shares of the utilities provider’s stock worth $31,000 after buying an additional 205 shares in the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of NextEra Energy during the second quarter valued at approximately $33,000. Finally, Neo Ivy Capital Management purchased a new position in shares of NextEra Energy in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

NYSE NEE opened at $84.65 on Friday. The stock has a market cap of $173.99 billion, a PE ratio of 23.07, a P/E/G ratio of 3.03 and a beta of 0.56. NextEra Energy, Inc. has a twelve month low of $47.15 and a twelve month high of $84.73. The stock has a fifty day simple moving average of $77.31 and a 200-day simple moving average of $71.33. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share 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 analysts’ expectations of $7.29 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. During the same period last year, the business earned $0.88 earnings per share. Equities analysts anticipate that NextEra Energy, Inc. will post 3.39 earnings per share for the current year.

NextEra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, August 30th. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

Analysts Set New Price Targets

Several analysts recently commented on NEE shares. JPMorgan Chase & Co. boosted their price target on NextEra Energy from $91.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. BMO Capital Markets increased their target price on shares of NextEra Energy from $79.00 to $83.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Citigroup boosted their price target on shares of NextEra Energy from $69.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Wells Fargo & Company increased their price objective on shares of NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada raised their target price on shares of NextEra Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, NextEra Energy presently has an average rating of “Moderate Buy” and an average target price of $81.50.

Insider Transactions at NextEra Energy

In related news, EVP Nicole J. Daggs sold 658 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.97, for a total value of $50,646.26. Following the sale, the executive vice president now owns 100 shares in the company, valued at approximately $7,697. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.18% of the company’s stock.

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.