Fragasso Financial Advisors Inc Cuts Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Fragasso Financial Advisors Inc trimmed its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 58.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,743 shares of the utilities provider’s stock after selling 23,567 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in NextEra Energy were worth $1,187,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in NextEra Energy by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 205,297,225 shares of the utilities provider’s stock valued at $14,717,758,000 after acquiring an additional 2,090,538 shares in the last quarter. Norges Bank acquired a new stake in shares of NextEra Energy in the 4th quarter worth $3,484,197,000. Geode Capital Management LLC grew its stake in NextEra Energy by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 43,778,016 shares of the utilities provider’s stock worth $3,129,132,000 after buying an additional 1,359,268 shares during the last quarter. Northern Trust Corp grew its stake in NextEra Energy by 9.6% during the 4th quarter. Northern Trust Corp now owns 23,090,426 shares of the utilities provider’s stock worth $1,655,353,000 after buying an additional 2,030,331 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in NextEra Energy by 4.2% during the 4th quarter. Bank of New York Mellon Corp now owns 14,523,786 shares of the utilities provider’s stock valued at $1,041,210,000 after buying an additional 588,038 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Stock Up 2.1%

NEE stock opened at $70.47 on Monday. The company has a market capitalization of $145.07 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 2.45 and a beta of 0.69. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.10. The firm’s fifty day simple moving average is $68.40 and its 200-day simple moving average is $70.76. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.47 and a quick ratio of 0.38.

NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.99. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. The company had revenue of $6.25 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.5665 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.22%. NextEra Energy’s payout ratio is 84.64%.

Insider Transactions at NextEra Energy

In related news, EVP Charles E. Sieving sold 23,684 shares of NextEra Energy stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the completion of the transaction, the executive vice president now directly owns 196,817 shares in the company, valued at approximately $13,777,190. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NEE. BMO Capital Markets lowered their price target on NextEra Energy from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Monday, April 14th. UBS Group decreased their price objective on shares of NextEra Energy from $94.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, May 23rd. Wells Fargo & Company lowered their target price on shares of NextEra Energy from $102.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Morgan Stanley restated an “overweight” rating on shares of NextEra Energy in a research note on Wednesday, April 23rd. Finally, Barclays decreased their price target on shares of NextEra Energy from $73.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday, April 29th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.50.

About NextEra Energy

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.