Costello Asset Management INC Sells 4,880 Shares of NextEra Energy, Inc. (NYSE:NEE)

Costello Asset Management INC cut its position in NextEra Energy, Inc. (NYSE:NEE) by 67.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,389 shares of the utilities provider’s stock after selling 4,880 shares during the period. Costello Asset Management INC’s holdings in NextEra Energy were worth $202,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC raised its position in NextEra Energy by 24,842.9% in the 3rd quarter. Transcendent Capital Group LLC now owns 3,492 shares of the utilities provider’s stock valued at $295,000 after purchasing an additional 3,478 shares during the last quarter. Houlihan Financial Resource Group Ltd. bought a new position in shares of NextEra Energy in the third quarter valued at about $203,000. Mesirow Financial Investment Management Inc. raised its holdings in shares of NextEra Energy by 10.2% in the third quarter. Mesirow Financial Investment Management Inc. now owns 19,643 shares of the utilities provider’s stock valued at $1,661,000 after buying an additional 1,812 shares during the last quarter. XML Financial LLC lifted its position in NextEra Energy by 2.7% during the 3rd quarter. XML Financial LLC now owns 16,577 shares of the utilities provider’s stock worth $1,401,000 after buying an additional 429 shares in the last quarter. Finally, RKL Wealth Management LLC acquired a new stake in NextEra Energy in the 3rd quarter valued at about $204,000. 78.72% of the stock is owned by institutional investors.

NextEra Energy Stock Up 3.1 %

Shares of NYSE NEE opened at $76.97 on Friday. NextEra Energy, Inc. has a 52-week low of $53.81 and a 52-week high of $86.10. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.33 and a current ratio of 0.41. The stock has a market cap of $158.28 billion, a P/E ratio of 22.77, a P/E/G ratio of 2.69 and a beta of 0.57. The firm has a 50 day moving average price of $82.05 and a 200 day moving average price of $77.11.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The company had revenue of $7.57 billion during the quarter, compared to analyst estimates of $8.11 billion. During the same quarter in the previous year, the business earned $0.94 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. Analysts expect that NextEra Energy, Inc. will post 3.41 EPS for the current year.

NextEra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 annualized dividend and a dividend yield of 2.68%. NextEra Energy’s dividend payout ratio is presently 60.95%.

Analyst Upgrades and Downgrades

NEE has been the topic of a number of research reports. Barclays upped their target price on shares of NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Scotiabank increased their price objective on NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Guggenheim upped their price target on NextEra Energy from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Royal Bank of Canada lowered NextEra Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company boosted their price objective on NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NextEra Energy has a consensus rating of “Hold” and an average target price of $86.54.

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.