Cullinan Associates Inc. Sells 124 Shares of NextEra Energy, Inc. (NYSE:NEE)

Cullinan Associates Inc. lessened its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,604 shares of the utilities provider’s stock after selling 124 shares during the period. Cullinan Associates Inc.’s holdings in NextEra Energy were worth $2,404,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Legal & General Group Plc increased its stake in NextEra Energy by 0.7% during the 2nd quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock worth $1,508,155,000 after acquiring an additional 143,748 shares during the period. Massachusetts Financial Services Co. MA increased its position 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 worth $579,097,000 after purchasing an additional 691,341 shares during the period. Nordea Investment Management AB increased its position in shares of NextEra Energy by 22.3% in 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 raised its stake in NextEra Energy by 14.3% in the third quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock valued at $575,573,000 after purchasing an additional 851,873 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in 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 owned by institutional investors.

Analyst Ratings Changes

NEE has been the topic of several recent analyst reports. Royal Bank of Canada lowered shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday. Barclays increased their price target on shares of NextEra Energy from $76.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Dbs Bank downgraded shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Scotiabank raised their target price on NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Bank of America lifted their price target on NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, NextEra Energy currently has an average rating of “Hold” and a consensus price target of $86.38.

NextEra Energy Trading Down 0.2 %

Shares of NextEra Energy stock traded down $0.16 on Friday, hitting $82.65. The stock had a trading volume of 664,605 shares, compared to its average volume of 10,704,921. The stock has a 50 day moving average of $82.19 and a 200 day moving average of $75.96. The firm has a market capitalization of $169.81 billion, a P/E ratio of 22.57, a PEG ratio of 2.92 and a beta of 0.56. NextEra Energy, Inc. has a twelve month low of $53.81 and a twelve month high of $86.10. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.41 and a current ratio of 0.49.

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, beating the consensus estimate of $0.98 by $0.05. The firm had revenue of $7.57 billion during the quarter, compared to analysts’ expectations of $8.11 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 EPS. Sell-side analysts expect that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s payout ratio is presently 56.13%.

Insider Buying and Selling at NextEra Energy

In other news, EVP Nicole J. Daggs sold 658 shares of the firm’s stock in a transaction dated 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 directly owns 100 shares in the company, valued at $7,697. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

NextEra Energy Company 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.