NextEra Energy, Inc. (NYSE:NEE) Shares Sold by Ridgecrest Wealth Partners LLC

Ridgecrest Wealth Partners LLC lessened its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 8.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,996 shares of the utilities provider’s stock after selling 440 shares during the quarter. Ridgecrest Wealth Partners LLC’s holdings in NextEra Energy were worth $319,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of NextEra Energy by 133.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,728 shares of the utilities provider’s stock worth $1,073,000 after purchasing an additional 10,720 shares in the last quarter. Mutual Advisors LLC increased its stake in NextEra Energy by 6.2% during the 3rd quarter. Mutual Advisors LLC now owns 20,279 shares of the utilities provider’s stock worth $1,162,000 after buying an additional 1,175 shares during the period. Bank of Nova Scotia lifted its holdings in NextEra Energy by 6.4% in the 3rd quarter. Bank of Nova Scotia now owns 478,165 shares of the utilities provider’s stock worth $27,394,000 after buying an additional 28,675 shares in the last quarter. Morningstar Investment Services LLC boosted its position in NextEra Energy by 134.2% in the 3rd quarter. Morningstar Investment Services LLC now owns 6,422 shares of the utilities provider’s stock valued at $367,000 after buying an additional 3,680 shares during the last quarter. Finally, Alpine Global Management LLC acquired a new stake in shares of NextEra Energy during the third quarter valued at about $458,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NEE shares. Bank of America boosted their price target on NextEra Energy from $61.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 23rd. Evercore ISI increased their target price on NextEra Energy from $70.00 to $75.00 and gave the company an “in-line” rating in a research note on Wednesday, June 12th. Barclays decreased 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 report on Thursday, June 13th. Royal Bank of Canada raised their price objective on shares of NextEra Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Finally, BMO Capital Markets upped their target price on shares of NextEra Energy from $78.00 to $79.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.57.

NextEra Energy Stock Performance

Shares of NEE opened at $70.81 on Friday. The firm has a fifty day moving average of $73.25 and a 200-day moving average of $64.50. The company has a market cap of $145.48 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 2.42 and a beta of 0.56. 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 1 year low of $47.15 and a 1 year high of $80.47.

NextEra Energy (NYSE:NEE) last posted its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same period in the previous year, the business posted $0.84 EPS. NextEra Energy’s revenue was down 14.7% on a year-over-year basis. As a group, equities analysts anticipate that NextEra Energy, Inc. will post 3.4 earnings per share for the current year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 2.91%. The ex-dividend date was Monday, June 3rd. NextEra Energy’s payout ratio is currently 56.13%.

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.