Patten & Patten Inc. TN Sells 4,245 Shares of NextEra Energy, Inc. $NEE

Patten & Patten Inc. TN reduced its stake in NextEra Energy, Inc. (NYSE:NEE) by 2.7% during the second quarter, Holdings Channel.com reports. The fund owned 155,390 shares of the utilities provider’s stock after selling 4,245 shares during the quarter. Patten & Patten Inc. TN’s holdings in NextEra Energy were worth $10,787,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NEE. 1 North Wealth Services LLC bought a new position in NextEra Energy in the 1st quarter worth about $26,000. Nova Wealth Management Inc. bought a new position in NextEra Energy in the 1st quarter worth about $32,000. IMA Advisory Services Inc. bought a new position in NextEra Energy in the 1st quarter worth about $35,000. Semmax Financial Advisors Inc. grew its stake in NextEra Energy by 335.0% in the 1st quarter. Semmax Financial Advisors Inc. now owns 509 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 392 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew 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 acquiring an additional 366 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NEE. Jefferies Financial Group reaffirmed a “hold” rating and issued a $85.00 price target (up previously from $77.00) on shares of NextEra Energy in a research report on Tuesday. Morgan Stanley reaffirmed an “overweight” rating and issued a $95.00 price target (down previously from $96.00) on shares of NextEra Energy in a research report on Thursday, September 25th. JPMorgan Chase & Co. upped their price target on shares of NextEra Energy from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, August 22nd. Barclays upped their price target on shares of NextEra Energy from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Finally, New Street Research set a $84.00 price target on shares of NextEra Energy in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, NextEra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $85.57.

Insiders Place Their Bets

In other NextEra Energy news, EVP Robert Coffey sold 7,500 shares of the firm’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $71.84, for a total value of $538,800.00. Following the completion of the transaction, the executive vice president owned 26,539 shares of the company’s stock, valued at approximately $1,906,561.76. This trade represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Lemasney sold 846 shares of the firm’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the transaction, the executive vice president directly owned 9,267 shares of the company’s stock, valued at approximately $694,098.30. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,705 shares of company stock valued at $2,446,490. Corporate insiders own 0.20% of the company’s stock.

NextEra Energy Trading Up 1.3%

NYSE:NEE opened at $85.73 on Thursday. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $86.49. The firm has a 50 day moving average of $75.05 and a 200 day moving average of $72.03. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $176.53 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 2.86 and a beta of 0.66.

NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The company had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. NextEra Energy’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 28th were issued a $0.5665 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.6%. NextEra Energy’s dividend payout ratio (DPR) is currently 79.37%.

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.