GM Advisory Group LLC Has $1.05 Million Stock Position in NextEra Energy, Inc. (NYSE:NEE)

GM Advisory Group LLC lowered its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 7.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,603 shares of the utilities provider’s stock after selling 1,138 shares during the period. GM Advisory Group LLC’s holdings in NextEra Energy were worth $1,047,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Burkett Financial Services LLC lifted its holdings in shares of NextEra Energy by 1,229.6% during the fourth quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock worth $26,000 after buying an additional 332 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new stake in shares of NextEra Energy during the fourth quarter worth $28,000. Quarry LP acquired a new stake in shares of NextEra Energy during the third quarter worth $33,000. Luken Investment Analytics LLC acquired a new stake in shares of NextEra Energy during the fourth quarter worth $36,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of NextEra Energy during the fourth quarter worth $44,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Stock Performance

Shares of NEE stock opened at $70.63 on Wednesday. The business’s 50-day moving average price is $70.54 and its 200-day moving average price is $75.70. NextEra Energy, Inc. has a 12 month low of $60.26 and a 12 month high of $86.10. The firm has a market capitalization of $145.28 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.45 and a beta of 0.58. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 EPS for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. Equities research analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $0.5665 dividend. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Friday, February 28th. NextEra Energy’s payout ratio is currently 67.06%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NEE shares. JPMorgan Chase & Co. raised their price target on NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Scotiabank raised their price target on NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. BMO Capital Markets raised their price target on NextEra Energy from $82.00 to $84.00 in a research report on Monday, January 27th. Jefferies Financial Group decreased their price target on NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. Finally, Morgan Stanley raised their price target on NextEra Energy from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, NextEra Energy has a consensus rating of “Hold” and an average target price of $85.92.

Insider Buying and Selling

In related news, CAO James Michael May sold 2,383 shares of NextEra Energy stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total value of $162,258.47. Following the transaction, the chief accounting officer now directly owns 27,427 shares of the company’s stock, valued at $1,867,504.43. The trade was a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

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.