Adell Harriman & Carpenter Inc. Decreases Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Adell Harriman & Carpenter Inc. lessened its stake in NextEra Energy, Inc. (NYSE:NEE) by 30.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 64,006 shares of the utilities provider’s stock after selling 27,506 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in NextEra Energy were worth $3,888,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NEE. Mizuho Markets Americas LLC acquired a new stake in shares of NextEra Energy in the third quarter valued at approximately $141,817,000. Nordea Investment Management AB increased its holdings in shares of NextEra Energy by 59.1% in the third quarter. Nordea Investment Management AB now owns 5,784,080 shares of the utilities provider’s stock valued at $337,096,000 after purchasing an additional 2,148,205 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of NextEra Energy by 7,999.6% in the fourth quarter. International Assets Investment Management LLC now owns 2,173,459 shares of the utilities provider’s stock valued at $132,016,000 after purchasing an additional 2,146,625 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of NextEra Energy by 1.0% in the third quarter. Vanguard Group Inc. now owns 198,430,172 shares of the utilities provider’s stock valued at $11,368,065,000 after purchasing an additional 1,956,153 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of NextEra Energy in the fourth quarter valued at approximately $94,883,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Stock Performance

Shares of NEE traded up $1.43 during midday trading on Monday, reaching $67.42. 9,715,756 shares of the stock were exchanged, compared to its average volume of 11,885,517. The business’s 50-day moving average price is $60.85 and its 200 day moving average price is $59.15. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.51 and a quick ratio of 0.43. NextEra Energy, Inc. has a twelve month low of $47.15 and a twelve month high of $78.53. The company has a market capitalization of $138.52 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 2.43 and a beta of 0.51.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The firm had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $6.28 billion. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. On average, sell-side analysts expect that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Monday, February 26th. This is a boost from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s payout ratio is 56.13%.

Analysts Set New Price Targets

NEE has been the subject of several recent analyst reports. StockNews.com raised NextEra Energy from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. Scotiabank raised their price target on NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Monday, April 22nd. Barclays assumed coverage on NextEra Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $66.00 price target for the company. Wells Fargo & Company lifted their target price on NextEra Energy from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Finally, Mizuho lifted their target price on NextEra Energy from $67.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.50.

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.