Penobscot Investment Management Company Inc. Sells 784 Shares of NextEra Energy, Inc. (NYSE:NEE)

Penobscot Investment Management Company Inc. lessened its holdings in NextEra Energy, Inc. (NYSE:NEE) by 0.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 235,015 shares of the utilities provider’s stock after selling 784 shares during the period. NextEra Energy accounts for approximately 1.5% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 13th largest holding. Penobscot Investment Management Company Inc.’s holdings in NextEra Energy were worth $16,848,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NEE. Empowered Funds LLC increased its holdings in shares of NextEra Energy by 14.7% in the fourth quarter. Empowered Funds LLC now owns 45,566 shares of the utilities provider’s stock worth $3,267,000 after buying an additional 5,831 shares during the period. Empower Advisory Group LLC increased its stake in NextEra Energy by 2.3% in the 4th quarter. Empower Advisory Group LLC now owns 1,823,327 shares of the utilities provider’s stock worth $130,714,000 after purchasing an additional 41,328 shares during the period. Nordea Investment Management AB lifted its position in NextEra Energy by 20.9% in the fourth quarter. Nordea Investment Management AB now owns 8,833,725 shares of the utilities provider’s stock valued at $634,703,000 after purchasing an additional 1,525,436 shares during the last quarter. Czech National Bank boosted its stake in shares of NextEra Energy by 6.5% during the fourth quarter. Czech National Bank now owns 445,870 shares of the utilities provider’s stock valued at $31,964,000 after purchasing an additional 27,340 shares during the period. Finally, ST Germain D J Co. Inc. grew its holdings in shares of NextEra Energy by 5.8% in the fourth quarter. ST Germain D J Co. Inc. now owns 171,735 shares of the utilities provider’s stock worth $12,312,000 after purchasing an additional 9,425 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Guggenheim reaffirmed a “buy” rating and set a $89.00 price target on shares of NextEra Energy in a research report on Thursday, March 20th. Jefferies Financial Group dropped their target price on shares of NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. JPMorgan Chase & Co. boosted 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. BMO Capital Markets increased their price objective on shares of NextEra Energy from $82.00 to $84.00 in a research report on Monday, January 27th. Finally, Evercore ISI cut their target price on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a research note on Monday, January 27th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $85.92.

NextEra Energy Trading Down 2.0 %

Shares of NextEra Energy stock opened at $68.70 on Wednesday. NextEra Energy, Inc. has a 1-year low of $61.30 and a 1-year high of $86.10. The company’s fifty day simple moving average is $70.70 and its 200-day simple moving average is $75.34. 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 stock has a market capitalization of $141.32 billion, a PE ratio of 20.39, a P/E/G ratio of 2.45 and a beta of 0.58.

NextEra Energy (NYSE:NEE) last released its earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. As a group, equities analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $0.5665 dividend. The ex-dividend date was Friday, February 28th. This is a boost 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 3.30%. NextEra Energy’s dividend payout ratio is 67.06%.

Insider Activity

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now 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 filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

NextEra Energy 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.