NextEra Energy, Inc. (NYSE:NEE) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. decreased its holdings in NextEra Energy, Inc. (NYSE:NEE) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 229,972 shares of the utilities provider’s stock after selling 5,043 shares during the period. NextEra Energy makes up approximately 1.5% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 13th largest position. Penobscot Investment Management Company Inc.’s holdings in NextEra Energy were worth $16,303,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Bellwether Advisors LLC acquired a new stake in NextEra Energy in the 4th quarter valued at about $30,000. WealthTrak Capital Management LLC acquired a new stake in NextEra Energy in the 4th quarter valued at about $33,000. Copia Wealth Management acquired a new stake in NextEra Energy in the 4th quarter valued at about $36,000. Promus Capital LLC acquired a new stake in NextEra Energy in the 4th quarter valued at about $45,000. Finally, Graney & King LLC acquired a new stake in NextEra Energy in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NEE. JPMorgan Chase & Co. raised their price target on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Morgan Stanley cut their price target on shares of NextEra Energy from $95.00 to $94.00 and set an “overweight” rating for the company in a report on Wednesday, June 18th. BMO Capital Markets cut 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. UBS Group cut their price target on shares of NextEra Energy from $94.00 to $84.00 and set a “buy” rating for the company in a report on Friday, May 23rd. Finally, Erste Group Bank downgraded shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.50.

Insiders Place Their Bets

In other news, EVP Charles E. Sieving sold 23,684 shares of NextEra Energy stock in a transaction 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 completion of the sale, the executive vice president now directly owns 196,817 shares of the company’s stock, valued at approximately $13,777,190. The trade was a 10.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

NextEra Energy Stock Down 1.4%

NextEra Energy stock opened at $70.39 on Thursday. 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 debt-to-equity ratio of 1.32, a quick ratio of 0.45 and a current ratio of 0.55. The firm has a 50 day moving average price of $69.80 and a 200 day moving average price of $70.22. The company has a market capitalization of $144.91 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.52 and a beta of 0.68.

NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share 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 firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. Research analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.5665 dividend. The ex-dividend date was Monday, June 2nd. This represents a $2.27 annualized dividend and a dividend yield of 3.22%. NextEra Energy’s dividend payout ratio (DPR) is 84.64%.

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.