Chemung Canal Trust Co. Trims Stake in NextEra Energy, Inc. (NYSE:NEE)

Chemung Canal Trust Co. lessened its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 5.7% during the 4th quarter, HoldingsChannel reports. The fund owned 6,136 shares of the utilities provider’s stock after selling 369 shares during the quarter. Chemung Canal Trust Co.’s holdings in NextEra Energy were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Burkett Financial Services LLC grew its holdings in NextEra Energy by 1,229.6% during the fourth quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 332 shares during the period. Reston Wealth Management LLC bought a new position in shares of NextEra Energy during the 3rd quarter valued at approximately $27,000. Sugar Maple Asset Management LLC purchased a new stake in NextEra Energy in the 4th quarter worth approximately $28,000. Quarry LP bought a new stake in NextEra Energy during the 3rd quarter worth approximately $33,000. Finally, Maryland Capital Advisors Inc. purchased a new position in NextEra Energy during the third quarter valued at approximately $39,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Trading Up 5.3 %

Shares of NEE opened at $72.91 on Friday. The stock has a market capitalization of $149.93 billion, a PE ratio of 21.57, a P/E/G ratio of 2.29 and a beta of 0.58. The company’s fifty day moving average is $73.09 and its 200 day moving average is $77.12. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.33 and a current ratio of 0.41. NextEra Energy, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $86.10.

NextEra Energy (NYSE:NEE) last posted its earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. Sell-side analysts expect that NextEra Energy, Inc. will post 3.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NEE has been the topic of several recent analyst reports. Barclays raised their price objective on shares of NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Scotiabank raised their price target on NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Guggenheim upped their price objective on NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Royal Bank of Canada downgraded NextEra Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, Dbs Bank downgraded NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $87.15.

Insider Activity

In related news, EVP Nicole J. Daggs sold 4,007 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $75.57, for a total transaction of $302,808.99. Following the sale, the executive vice president now owns 15,792 shares in the company, valued at approximately $1,193,401.44. This represents a 20.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate 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.