ING Groep NV Sells 86,175 Shares of NextEra Energy, Inc. (NYSE:NEE)

ING Groep NV cut its stake in NextEra Energy, Inc. (NYSE:NEEFree Report) by 23.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 280,885 shares of the utilities provider’s stock after selling 86,175 shares during the period. ING Groep NV’s holdings in NextEra Energy were worth $17,061,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. BOK Financial Private Wealth Inc. acquired a new stake in NextEra Energy in the fourth quarter worth $29,000. Stuart Chaussee & Associates Inc. increased its position in shares of NextEra Energy by 315.4% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock valued at $33,000 after buying an additional 410 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in NextEra Energy during the 4th quarter worth $34,000. Rakuten Securities Inc. bought a new position in NextEra Energy during the fourth quarter worth about $34,000. Finally, HBC Financial Services PLLC acquired a new position in NextEra Energy in the fourth quarter valued at about $36,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NEE has been the topic of several recent analyst reports. BMO Capital Markets lifted their price objective on NextEra Energy from $72.00 to $78.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Bank of America lifted their price target on shares of NextEra Energy from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. Barclays started coverage on shares of NextEra Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $66.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $74.00 price objective on shares of NextEra Energy in a research report on Tuesday, January 30th. Finally, Mizuho increased their target price on NextEra Energy from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.64.

Check Out Our Latest Report on NEE

NextEra Energy Stock Performance

NYSE:NEE traded down $0.32 during mid-day trading on Friday, reaching $76.09. 9,490,319 shares of the company’s stock were exchanged, compared to its average volume of 11,925,826. NextEra Energy, Inc. has a one year low of $47.15 and a one year high of $77.41. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.43 and a current ratio of 0.51. The business’s fifty day simple moving average is $65.76 and its two-hundred day simple moving average is $60.98. The firm has a market capitalization of $156.33 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 2.81 and a beta of 0.50.

NextEra Energy (NYSE:NEEGet Free Report) last announced its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. The company had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $6.28 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The business’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period last year, the firm earned $0.84 earnings per share. Analysts anticipate that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NextEra Energy (NYSE:NEE)

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