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

Cassia Capital Partners LLC cut its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 8.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,939 shares of the utilities provider’s stock after selling 842 shares during the period. Cassia Capital Partners LLC’s holdings in NextEra Energy were worth $756,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Legal & General Group Plc increased its stake in shares of NextEra Energy by 0.7% during the second quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock worth $1,508,155,000 after buying an additional 143,748 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of NextEra Energy by 9.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,178,185 shares of the utilities provider’s stock valued at $579,097,000 after acquiring an additional 691,341 shares during the period. Nordea Investment Management AB lifted its holdings in shares of NextEra Energy by 22.3% during the first quarter. Nordea Investment Management AB now owns 6,961,556 shares of the utilities provider’s stock worth $443,834,000 after purchasing an additional 1,268,900 shares during the period. Raymond James & Associates lifted its holdings in shares of NextEra Energy by 14.3% during the third quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock worth $575,573,000 after purchasing an additional 851,873 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of NextEra Energy by 7.2% during the second quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider’s stock worth $431,966,000 after purchasing an additional 409,708 shares during the period. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Stock Performance

NYSE:NEE traded down $0.45 during midday trading on Monday, reaching $83.93. 2,433,333 shares of the company traded hands, compared to its average volume of 10,747,513. NextEra Energy, Inc. has a twelve month low of $50.95 and a twelve month high of $86.10. The firm has a market capitalization of $172.44 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 2.92 and a beta of 0.56. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.49 and a quick ratio of 0.41. The company has a fifty day moving average price of $81.81 and a 200 day moving average price of $75.61.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. The company had revenue of $6.07 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. On average, analysts expect that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 2.45%. NextEra Energy’s dividend payout ratio (DPR) is presently 56.13%.

Insiders Place Their Bets

In other NextEra Energy 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 transaction of $50,646.26. Following the completion of the transaction, the executive vice president now owns 100 shares in the company, valued at approximately $7,697. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Barclays increased their price objective on NextEra Energy from $76.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Morgan Stanley lifted their price objective on NextEra Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Dbs Bank downgraded NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. BMO Capital Markets raised their target price on NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a report on Friday. Finally, Jefferies Financial Group initiated coverage on NextEra Energy in a report on Thursday, September 19th. They set a “hold” rating and a $87.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $85.46.

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.