Bar Harbor Wealth Management Lowers Position in NextEra Energy, Inc. $NEE

Bar Harbor Wealth Management lessened its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 18.5% in the third quarter, Holdings Channel.com reports. The fund owned 35,351 shares of the utilities provider’s stock after selling 8,006 shares during the quarter. Bar Harbor Wealth Management’s holdings in NextEra Energy were worth $2,669,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. JGP Wealth Management LLC lifted its stake in shares of NextEra Energy by 0.8% during the third quarter. JGP Wealth Management LLC now owns 172,290 shares of the utilities provider’s stock worth $13,470,000 after purchasing an additional 1,401 shares in the last quarter. Robbins Farley grew its position in NextEra Energy by 12.6% in the third quarter. Robbins Farley now owns 85,153 shares of the utilities provider’s stock valued at $6,428,000 after acquiring an additional 9,500 shares in the last quarter. Hunter Perkins Capital Management LLC purchased a new stake in shares of NextEra Energy during the third quarter valued at approximately $3,966,000. Centerline Wealth Advisors LLC purchased a new stake in shares of NextEra Energy during the third quarter valued at approximately $221,000. Finally, Norden Group LLC lifted its position in shares of NextEra Energy by 13.6% during the third quarter. Norden Group LLC now owns 7,083 shares of the utilities provider’s stock worth $535,000 after purchasing an additional 850 shares in the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Stock Performance

NEE stock opened at $80.17 on Thursday. The company has a 50-day simple moving average of $83.14 and a 200 day simple moving average of $77.19. The company has a market capitalization of $166.96 billion, a P/E ratio of 25.53, a PEG ratio of 2.68 and a beta of 0.74. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.30. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $87.53.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.The company had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter in the prior year, the company earned $1.03 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. Sell-side analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 21st were given a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, November 21st. NextEra Energy’s dividend payout ratio is presently 72.29%.

Insider Activity

In other NextEra Energy news, EVP Charles E. Sieving sold 11,336 shares of NextEra Energy stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $80.00, for a total value of $906,880.00. Following the transaction, the executive vice president directly owned 167,481 shares of the company’s stock, valued at $13,398,480. The trade was a 6.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Armando Pimentel, Jr. sold 145,140 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $83.91, for a total transaction of $12,178,697.40. Following the completion of the sale, the chief executive officer owned 162,693 shares of the company’s stock, valued at approximately $13,651,569.63. The trade was a 47.15% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NEE shares. Jefferies Financial Group reissued a “hold” rating and issued a $85.00 price target (up previously from $77.00) on shares of NextEra Energy in a report on Tuesday, October 14th. Cowen began coverage on shares of NextEra Energy in a research report on Wednesday, October 15th. They set a “buy” rating for the company. UBS Group set a $91.00 price target on shares of NextEra Energy and gave the company a “buy” rating in a report on Wednesday, December 17th. Wolfe Research increased their price objective on shares of NextEra Energy from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, December 1st. Finally, TD Cowen assumed coverage on shares of NextEra Energy in a report on Thursday, October 16th. They set a “buy” rating and a $98.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, NextEra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.56.

NextEra Energy Company Profile

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.