Somerset Group LLC Cuts Holdings in NextEra Energy, Inc. (NYSE:NEE)

Somerset Group LLC cut its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,000 shares of the utilities provider’s stock after selling 164 shares during the quarter. NextEra Energy accounts for about 3.4% of Somerset Group LLC’s portfolio, making the stock its 9th biggest holding. Somerset Group LLC’s holdings in NextEra Energy were worth $3,728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEE. Boston Partners acquired a new position in shares of NextEra Energy during the 4th quarter worth about $244,169,000. Amundi lifted its stake in NextEra Energy by 49.8% in the fourth quarter. Amundi now owns 9,543,552 shares of the utilities provider’s stock valued at $676,008,000 after acquiring an additional 3,172,405 shares during the last quarter. Nordea Investment Management AB grew its position in shares of NextEra Energy by 20.9% in the 4th quarter. Nordea Investment Management AB now owns 8,833,725 shares of the utilities provider’s stock valued at $634,703,000 after acquiring an additional 1,525,436 shares during the period. National Bank of Canada FI increased its stake in shares of NextEra Energy by 167.7% during the 3rd quarter. National Bank of Canada FI now owns 2,186,225 shares of the utilities provider’s stock worth $184,795,000 after purchasing an additional 1,369,689 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of NextEra Energy by 13,375.2% in the 4th quarter. Proficio Capital Partners LLC now owns 946,231 shares of the utilities provider’s stock valued at $67,835,000 after purchasing an additional 939,209 shares during the period. Institutional investors and hedge funds own 78.72% of the company’s stock.

Insider Transactions at NextEra Energy

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total value of $162,258.47. Following the completion of the transaction, the chief accounting officer now directly owns 27,427 shares in the company, valued at approximately $1,867,504.43. This represents a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NEE shares. Scotiabank boosted 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. Jefferies Financial Group decreased their target price on NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. Guggenheim restated a “buy” rating and issued a $89.00 price target on shares of NextEra Energy in a research note on Thursday. Evercore ISI reduced their price objective on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a research report on Monday, January 27th. Finally, Morgan Stanley upped their price objective on shares of NextEra Energy from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $85.92.

NextEra Energy Trading Down 0.3 %

Shares of NYSE:NEE opened at $70.92 on Friday. The company has a market capitalization of $145.87 billion, a P/E ratio of 21.04, a P/E/G ratio of 2.45 and a beta of 0.58. NextEra Energy, Inc. has a 1 year low of $61.30 and a 1 year high of $86.10. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.47 and a quick ratio of 0.38. The business’s 50 day simple moving average is $70.62 and its 200 day simple moving average is $75.56.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. On average, research analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal 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 given a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a yield of 3.20%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, February 28th. NextEra Energy’s dividend payout ratio is currently 67.06%.

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.