City State Bank Lowers Stake in NextEra Energy, Inc. (NYSE:NEE)

City State Bank lowered its stake in shares of NextEra Energy, Inc. (NYSE:NEE – Get Rating) by 2.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,334 shares of the utilities provider’s stock after selling 250 shares during the period. City State Bank’s holdings in NextEra Energy were worth $864,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hoey Investments Inc. purchased a new stake in NextEra Energy during the second quarter worth $26,000. SRS Capital Advisors Inc. increased its position in shares of NextEra Energy by 70.8% during the second quarter. SRS Capital Advisors Inc. now owns 386 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 160 shares in the last quarter. Align Wealth Management LLC acquired a new position in shares of NextEra Energy during the fourth quarter worth $34,000. Ten Capital Wealth Advisors LLC increased its position in shares of NextEra Energy by 142.4% during the third quarter. Ten Capital Wealth Advisors LLC now owns 463 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 272 shares in the last quarter. Finally, Bellwether Advisors LLC acquired a new position in shares of NextEra Energy during the third quarter worth $38,000. Hedge funds and other institutional investors own 76.17% of the company’s stock.

NextEra Energy Stock Performance

NEE traded down $0.56 during midday trading on Friday, hitting $75.67. 14,137,395 shares of the company were exchanged, compared to its average volume of 9,084,818. The company’s 50 day simple moving average is $76.77 and its 200 day simple moving average is $80.28. The firm has a market capitalization of $150.39 billion, a price-to-earnings ratio of 36.21, a price-to-earnings-growth ratio of 2.71 and a beta of 0.44. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.14. NextEra Energy, Inc. has a 1-year low of $67.22 and a 1-year high of $91.35.

NextEra Energy (NYSE:NEE – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The utilities provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.58 billion. NextEra Energy had a return on equity of 12.51% and a net margin of 19.79%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. As a group, sell-side analysts predict that NextEra Energy, Inc. will post 3.12 earnings per share for the current year.

NextEra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th were given a dividend of $0.4675 per share. This is an increase from NextEra Energy’s previous quarterly dividend of $0.43. This represents a $1.87 annualized dividend and a yield of 2.47%. The ex-dividend date was Monday, February 27th. NextEra Energy’s dividend payout ratio (DPR) is currently 89.47%.

Insiders Place Their Bets

In related news, Director Amy B. Lane purchased 1,000 shares of the business’s stock in a transaction on Monday, February 6th. The shares were bought at an average cost of $74.86 per share, with a total value of $74,860.00. Following the transaction, the director now owns 41,277 shares of the company’s stock, valued at $3,089,996.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Amy B. Lane bought 1,000 shares of the stock in a transaction dated Monday, February 6th. The shares were acquired at an average cost of $74.86 per share, with a total value of $74,860.00. Following the purchase, the director now directly owns 41,277 shares in the company, valued at approximately $3,089,996.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Armando Pimentel, Jr. bought 13,200 shares of the stock in a transaction dated Tuesday, February 21st. The shares were purchased at an average cost of $75.44 per share, for a total transaction of $995,808.00. Following the completion of the purchase, the chief executive officer now owns 129,230 shares in the company, valued at $9,749,111.20. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 18,872 shares of company stock valued at $1,417,721. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Guggenheim reduced their price target on NextEra Energy from $102.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, January 26th. Bank of America downgraded NextEra Energy from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $94.00 to $80.00 in a research report on Thursday, January 26th. Morgan Stanley reduced their price target on NextEra Energy from $100.00 to $97.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 22nd. StockNews.com raised NextEra Energy from a “sell” rating to a “hold” rating in a research report on Friday, March 10th. Finally, Royal Bank of Canada cut their target price on NextEra Energy from $101.00 to $98.00 and set an “outperform” rating on the stock in a research report on Monday, January 30th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.83.

NextEra Energy Profile

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NextEra Energy, Inc engages in the provision of renewable energy. It operates through the following segments: FPL and NEER. The FPL segment involves the generation, transmission, distribution, and sale of electric energy in Florida. The NEER segment produces electricity from clean and renewable sources, including wind and solar.