Envestnet Portfolio Solutions Inc. Sells 97,088 Shares of NextEra Energy, Inc. (NYSE:NEE)

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 26.6% in the first quarter, HoldingsChannel reports. The firm owned 267,600 shares of the utilities provider’s stock after selling 97,088 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in NextEra Energy were worth $18,970,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of NEE. Norges Bank bought a new position in shares of NextEra Energy in the fourth quarter valued at about $3,484,197,000. Boston Partners acquired a new stake in NextEra Energy in the 4th quarter valued at about $244,169,000. Two Sigma Advisers LP acquired a new stake in NextEra Energy in the 4th quarter valued at about $240,269,000. Amundi raised its stake in shares of NextEra Energy by 49.8% in the fourth quarter. Amundi now owns 9,543,552 shares of the utilities provider’s stock worth $676,008,000 after acquiring an additional 3,172,405 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of NextEra Energy by 46.7% during the fourth quarter. California Public Employees Retirement System now owns 7,910,346 shares of the utilities provider’s stock worth $567,093,000 after purchasing an additional 2,517,369 shares in the last quarter. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

Shares of NYSE:NEE opened at $71.54 on Thursday. The firm’s 50 day simple moving average is $69.35 and its 200 day simple moving average is $70.39. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.10. The company has a market capitalization of $147.28 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 2.53 and a beta of 0.68. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.55 and a quick ratio of 0.45.

NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. The firm had revenue of $6.25 billion during the quarter, compared to the consensus estimate of $6.58 billion. NextEra Energy had a net margin of 21.81% and a return on equity of 12.06%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. As a group, sell-side analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.5665 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.27 annualized dividend and a yield of 3.17%. NextEra Energy’s dividend payout ratio is presently 85.02%.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, EVP Charles E. Sieving sold 23,684 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on NEE shares. BMO Capital Markets lowered their price target on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Erste Group Bank cut NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Barclays dropped their target price on NextEra Energy from $73.00 to $65.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 29th. JPMorgan Chase & Co. raised their price target on NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Finally, Morgan Stanley dropped their price objective on NextEra Energy from $95.00 to $94.00 and set an “overweight” rating for the company in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, NextEra Energy currently has a consensus rating of “Moderate Buy” and an average 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.