Los Angeles Capital Management LLC Decreases Holdings in NextEra Energy, Inc. (NYSE:NEE)

Los Angeles Capital Management LLC cut its stake in NextEra Energy, Inc. (NYSE:NEE) by 84.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,256 shares of the utilities provider’s stock after selling 176,596 shares during the quarter. Los Angeles Capital Management LLC’s holdings in NextEra Energy were worth $2,727,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Proffitt & Goodson Inc. raised its holdings in shares of NextEra Energy by 64.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after buying an additional 144 shares during the period. Semmax Financial Advisors Inc. lifted its position in shares of NextEra Energy by 197.4% during the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 225 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of NextEra Energy in the third quarter valued at $27,000. Valley Wealth Managers Inc. acquired a new stake in NextEra Energy during the 2nd quarter valued at $33,000. Finally, Maryland Capital Advisors Inc. purchased a new stake in NextEra Energy during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Price Performance

Shares of NYSE:NEE opened at $74.26 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.11. The firm has a 50-day simple moving average of $81.95 and a 200 day simple moving average of $77.33. NextEra Energy, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $86.10. The company has a market cap of $152.71 billion, a PE ratio of 21.97, a P/E/G ratio of 2.78 and a beta of 0.57.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.05. The business had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $8.11 billion. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. On average, sell-side analysts anticipate that NextEra Energy, Inc. will post 3.41 EPS for the current year.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be issued a $0.515 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.77%. NextEra Energy’s dividend payout ratio (DPR) is presently 60.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Bank of America raised their price objective on NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Guggenheim upped their target price on NextEra Energy from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Jefferies Financial Group assumed coverage on shares of NextEra Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $87.00 price target for the company. Finally, 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 research note on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $86.54.

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.