Montecito Bank & Trust Reduces Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Montecito Bank & Trust trimmed its holdings in NextEra Energy, Inc. (NYSE:NEE) by 3.2% in the first quarter, Holdings Channel reports. The institutional investor owned 16,624 shares of the utilities provider’s stock after selling 553 shares during the quarter. Montecito Bank & Trust’s holdings in NextEra Energy were worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEE. Clear Investment Research LLC lifted its holdings in shares of NextEra Energy by 387.2% in the fourth quarter. Clear Investment Research LLC now owns 458 shares of the utilities provider’s stock worth $28,000 after buying an additional 364 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new stake in NextEra Energy during the 4th quarter worth approximately $29,000. Stuart Chaussee & Associates Inc. lifted its stake in NextEra Energy by 315.4% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 410 shares in the last quarter. Valued Wealth Advisors LLC bought a new position in NextEra Energy in the 4th quarter valued at $34,000. Finally, Rakuten Securities Inc. purchased a new position in shares of NextEra Energy during the 4th quarter valued at $34,000. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Price Performance

Shares of NEE stock opened at $72.49 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.43 and a current ratio of 0.51. NextEra Energy, Inc. has a fifty-two week low of $47.15 and a fifty-two week high of $80.47. The firm has a market cap of $148.93 billion, a P/E ratio of 19.75, a P/E/G ratio of 2.58 and a beta of 0.56. The business’s 50 day moving average price is $72.09 and its 200-day moving average price is $63.91.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The business had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the previous year, the business posted $0.84 earnings per share. The firm’s revenue for the quarter was down 14.7% compared to the same quarter last year. On average, equities research analysts anticipate that NextEra Energy, Inc. will post 3.41 earnings per share for the current year.

NextEra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Monday, June 3rd. NextEra Energy’s payout ratio is currently 56.13%.

Wall Street Analyst Weigh In

Several research firms have weighed in on NEE. Royal Bank of Canada raised their price target on NextEra Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. BMO Capital Markets boosted their target price on NextEra Energy from $78.00 to $79.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. Morgan Stanley lifted their target price on shares of NextEra Energy from $79.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Barclays lowered their price target on shares of NextEra Energy from $74.00 to $73.00 and set an “equal weight” rating for the company in a research note on Thursday, June 13th. Finally, JPMorgan Chase & Co. raised their price objective on NextEra Energy from $76.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.50.

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.