Patten & Patten Inc. TN Sells 12,307 Shares of NextEra Energy, Inc. (NYSE:NEE)

Patten & Patten Inc. TN lessened its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 7.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 159,635 shares of the utilities provider’s stock after selling 12,307 shares during the period. Patten & Patten Inc. TN’s holdings in NextEra Energy were worth $11,317,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bellwether Advisors LLC bought a new position in NextEra Energy in the 4th quarter worth about $30,000. WealthTrak Capital Management LLC bought a new position in NextEra Energy in the 4th quarter worth about $33,000. IMA Advisory Services Inc. bought a new position in NextEra Energy in the 1st quarter worth about $35,000. Copia Wealth Management bought a new position in NextEra Energy in the 4th quarter worth about $36,000. Finally, CBIZ Investment Advisory Services LLC boosted its stake in NextEra Energy by 237.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 366 shares in the last quarter. Institutional investors own 78.72% of the company’s stock.

Insider Buying and Selling

In other NextEra Energy news, EVP Charles E. Sieving sold 23,684 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $70.00, for a total value 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 $13,777,190. This represents a 10.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by insiders.

NextEra Energy Price Performance

NYSE NEE opened at $69.87 on Thursday. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $86.10. The firm has a market capitalization of $143.84 billion, a P/E ratio of 20.73, a PEG ratio of 2.45 and a beta of 0.69. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20. The company has a 50-day moving average price of $68.41 and a 200-day moving average price of $70.71.

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

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.5665 dividend. This represents a $2.27 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Monday, June 2nd. NextEra Energy’s dividend payout ratio is 84.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NEE shares. Guggenheim reiterated a “buy” rating and issued a $89.00 price target on shares of NextEra Energy in a research note on Thursday, March 20th. UBS Group dropped their price target on shares of NextEra Energy from $94.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. Erste Group Bank cut shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Wells Fargo & Company dropped their price target on shares of NextEra Energy from $102.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.50.

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.