Pinnacle Financial Partners Inc Sells 118,216 Shares of NextEra Energy, Inc. (NYSE:NEE)

Pinnacle Financial Partners Inc cut its holdings in shares of NextEra Energy, Inc. (NYSE:NEEFree Report) by 55.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 94,264 shares of the utilities provider’s stock after selling 118,216 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in NextEra Energy were worth $5,726,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pine Haven Investment Counsel Inc increased its holdings in shares of NextEra Energy by 9.9% during the fourth quarter. Pine Haven Investment Counsel Inc now owns 5,535 shares of the utilities provider’s stock valued at $336,000 after acquiring an additional 500 shares in the last quarter. Sigma Investment Counselors Inc. raised its holdings in shares of NextEra Energy by 1,183.4% during the 4th quarter. Sigma Investment Counselors Inc. now owns 54,608 shares of the utilities provider’s stock valued at $3,317,000 after buying an additional 50,353 shares in the last quarter. Nvest Financial LLC boosted its position in NextEra Energy by 45.3% during the fourth quarter. Nvest Financial LLC now owns 21,828 shares of the utilities provider’s stock valued at $1,326,000 after buying an additional 6,810 shares during the period. Ascent Wealth Partners LLC increased its holdings in NextEra Energy by 9.8% during the 4th quarter. Ascent Wealth Partners LLC now owns 26,643 shares of the utilities provider’s stock valued at $1,618,000 after purchasing an additional 2,373 shares during the period. Finally, Essex Savings Bank lifted its position in shares of NextEra Energy by 29.5% in the 4th quarter. Essex Savings Bank now owns 11,459 shares of the utilities provider’s stock worth $696,000 after purchasing an additional 2,609 shares during the period. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Stock Performance

Shares of NYSE:NEE traded down $0.69 on Tuesday, reaching $62.69. 4,643,925 shares of the company’s stock were exchanged, compared to its average volume of 11,971,430. The company has a fifty day moving average of $58.22 and a 200-day moving average of $58.46. The company has a market capitalization of $128.67 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.27 and a beta of 0.51. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 1.06. NextEra Energy, Inc. has a twelve month low of $47.15 and a twelve month high of $79.78.

NextEra Energy (NYSE:NEEGet Free Report) last announced its quarterly earnings data on Thursday, January 25th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $5.72 billion. NextEra Energy had a return on equity of 11.73% and a net margin of 26.00%. During the same period in the previous year, the business earned $0.51 EPS. On average, research analysts predict that NextEra Energy, Inc. will post 3.44 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.29%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.47. The ex-dividend date was Monday, February 26th. NextEra Energy’s dividend payout ratio (DPR) is currently 57.06%.

Analyst Upgrades and Downgrades

NEE has been the topic of a number of recent analyst reports. Mizuho reaffirmed a “buy” rating and set a $67.00 price target (up previously from $65.00) on shares of NextEra Energy in a report on Friday, March 15th. StockNews.com downgraded shares of NextEra Energy from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Citigroup began coverage on NextEra Energy in a research report on Friday, December 8th. They set a “buy” rating and a $69.00 price target on the stock. Wells Fargo & Company upped their price target on NextEra Energy from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, BMO Capital Markets upped their price objective on shares of NextEra Energy from $76.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.46.

Get Our Latest Report on NEE

About NextEra Energy

(Free Report)

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.

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Institutional Ownership by Quarter for NextEra Energy (NYSE:NEE)

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