Montecito Bank & Trust Sells 207 Shares of NextEra Energy, Inc. (NYSE:NEE)

Montecito Bank & Trust decreased its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,368 shares of the utilities provider’s stock after selling 207 shares during the period. Montecito Bank & Trust’s holdings in NextEra Energy were worth $1,231,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Bellwether Advisors LLC bought a new position in shares of NextEra Energy in the fourth quarter worth about $30,000. WealthTrak Capital Management LLC bought a new position in shares of NextEra Energy in the fourth quarter worth about $33,000. Copia Wealth Management bought a new position in shares of NextEra Energy in the fourth quarter worth about $36,000. Midwest Capital Advisors LLC bought a new position in shares of NextEra Energy in the fourth quarter worth about $44,000. Finally, Promus Capital LLC bought a new position in shares of NextEra Energy in the fourth quarter worth about $45,000. 78.72% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Charles E. Sieving sold 23,684 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the transaction, the executive vice president now owns 196,817 shares in the company, valued at $13,777,190. This represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

NextEra Energy Stock Performance

NEE stock opened at $74.70 on Monday. The firm has a market cap of $153.78 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 2.45 and a beta of 0.68. The firm has a 50-day simple moving average of $69.00 and a two-hundred day simple moving average of $70.40. NextEra Energy, Inc. has a one year low of $61.72 and a one year high of $86.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.38 and a current ratio of 0.47.

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. The business had revenue of $6.25 billion during the quarter, compared to analyst estimates of $6.58 billion. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share. On average, equities analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Monday, June 2nd. NextEra Energy’s payout ratio is 84.64%.

Analyst Ratings Changes

A number of research analysts have recently commented on NEE shares. Barclays cut their price target on shares of NextEra Energy from $73.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 29th. Erste Group Bank lowered shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. UBS Group lowered 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 note on Friday, May 23rd. Guggenheim reaffirmed a “buy” rating and issued a $89.00 price objective on shares of NextEra Energy in a research note on Thursday, March 20th. Finally, Wells Fargo & Company lowered their price objective 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. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.50.

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.