Cullinan Associates Inc. Sells 24,841 Shares of NextEra Energy, Inc. (NYSE:NEE)

Cullinan Associates Inc. trimmed its stake in NextEra Energy, Inc. (NYSE:NEE) by 41.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,642 shares of the utilities provider’s stock after selling 24,841 shares during the period. Cullinan Associates Inc.’s holdings in NextEra Energy were worth $2,278,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

NEE has been the subject of a number of analyst reports. Royal Bank of Canada increased their price objective on NextEra Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. BMO Capital Markets boosted their price target on shares of NextEra Energy from $78.00 to $79.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. Scotiabank lifted their price objective on NextEra Energy from $69.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, April 22nd. Wells Fargo & Company reissued an “overweight” rating and issued a $95.00 target price on shares of NextEra Energy in a research report on Wednesday, June 12th. Finally, StockNews.com upgraded NextEra Energy from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $77.57.

NextEra Energy Stock Up 0.8 %

Shares of NextEra Energy stock opened at $70.47 on Wednesday. NextEra Energy, Inc. has a twelve month low of $47.15 and a twelve month high of $80.47. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.12. The company’s 50 day moving average is $73.34 and its 200 day moving average is $64.57. The company has a market cap of $144.78 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54.

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

NextEra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Monday, June 3rd. NextEra Energy’s payout ratio is 56.13%.

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.