Fred Alger Management LLC Sells 726 Shares of NextEra Energy, Inc. (NYSE:NEE)

Fred Alger Management LLC lowered its stake in NextEra Energy, Inc. (NYSE:NEE) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,582 shares of the utilities provider’s stock after selling 726 shares during the quarter. Fred Alger Management LLC’s holdings in NextEra Energy were worth $3,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NEE. Dunhill Financial LLC boosted its holdings in shares of NextEra Energy by 66.5% in the 4th quarter. Dunhill Financial LLC now owns 3,145 shares of the utilities provider’s stock valued at $225,000 after buying an additional 1,256 shares during the last quarter. EHP Funds Inc. bought a new stake in NextEra Energy during the fourth quarter worth $817,000. Colonial Trust Co SC lifted its stake in NextEra Energy by 4.2% in the fourth quarter. Colonial Trust Co SC now owns 49,745 shares of the utilities provider’s stock valued at $3,566,000 after acquiring an additional 2,024 shares during the last quarter. CoreCap Advisors LLC grew its position in shares of NextEra Energy by 11.5% in the 4th quarter. CoreCap Advisors LLC now owns 24,959 shares of the utilities provider’s stock valued at $1,789,000 after acquiring an additional 2,584 shares during the period. Finally, BOKF NA increased its stake in shares of NextEra Energy by 7.4% during the 4th quarter. BOKF NA now owns 108,276 shares of the utilities provider’s stock worth $7,296,000 after purchasing an additional 7,501 shares during the last quarter. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

NYSE NEE opened at $70.37 on Friday. The firm has a 50-day moving average price of $68.73 and a two-hundred day moving average price of $71.64. NextEra Energy, Inc. has a 12-month low of $61.72 and a 12-month high of $86.10. The company has a market capitalization of $144.87 billion, a P/E ratio of 20.88, a P/E/G ratio of 2.45 and a beta of 0.69. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. The business had revenue of $6.25 billion during the quarter, compared to analysts’ expectations of $6.58 billion. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. Analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a yield of 3.22%. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, February 28th. NextEra Energy’s dividend payout ratio is presently 84.64%.

Insider Buying and Selling at NextEra Energy

In related news, CAO James Michael May sold 2,383 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total transaction of $162,258.47. Following the sale, the chief accounting officer now owns 27,427 shares in the company, valued at approximately $1,867,504.43. This trade represents a 7.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NEE. Barclays cut their target price on shares of NextEra Energy from $73.00 to $65.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 29th. JPMorgan Chase & Co. raised their price objective on NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Erste Group Bank raised NextEra Energy to a “strong-buy” rating in a report on Wednesday, April 16th. Jefferies Financial Group dropped their price target on NextEra Energy from $81.00 to $77.00 in a research note on Monday, January 27th. Finally, BMO Capital Markets reduced their price objective on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NextEra Energy currently has an average rating of “Moderate Buy” and an average price target of $83.46.

NextEra Energy Company 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.