Berkshire Asset Management LLC PA Sells 1,897 Shares of NextEra Energy, Inc. (NYSE:NEE)

Berkshire Asset Management LLC PA cut its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,276 shares of the utilities provider’s stock after selling 1,897 shares during the period. Berkshire Asset Management LLC PA’s holdings in NextEra Energy were worth $1,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC lifted its holdings in NextEra Energy by 1,229.6% during the fourth quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 332 shares in the last quarter. Sugar Maple Asset Management LLC bought a new stake in shares of NextEra Energy in the fourth quarter valued at about $28,000. Quarry LP bought a new stake in shares of NextEra Energy in the third quarter valued at about $33,000. Luken Investment Analytics LLC bought a new stake in shares of NextEra Energy in the fourth quarter valued at about $36,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of NextEra Energy in the fourth quarter valued at about $44,000. 78.72% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO James Michael May sold 2,383 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total value of $162,258.47. Following the transaction, the chief accounting officer now owns 27,427 shares of the company’s stock, valued at approximately $1,867,504.43. This represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by company insiders.

NextEra Energy Price Performance

Shares of NYSE NEE opened at $69.99 on Friday. The business’s 50 day moving average price is $70.28 and its two-hundred day moving average price is $76.12. The company has a market cap of $143.97 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.45 and a beta of 0.58. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20. NextEra Energy, Inc. has a twelve month low of $55.53 and a twelve month high of $86.10.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. On average, analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $0.5665 dividend. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.27 annualized dividend and a dividend yield of 3.24%. NextEra Energy’s dividend payout ratio is presently 67.06%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NEE shares. Scotiabank boosted their price target on NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Jefferies Financial Group cut their price target on NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. BMO Capital Markets boosted their price target on NextEra Energy from $82.00 to $84.00 in a report on Monday, January 27th. JPMorgan Chase & Co. lowered their target price on NextEra Energy from $99.00 to $90.00 in a research report on Monday, January 27th. Finally, Morgan Stanley lifted their target price on NextEra Energy from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $85.85.

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.