Estabrook Capital Management Sells 378 Shares of NextEra Energy, Inc. (NYSE:NEE)

Estabrook Capital Management decreased its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 47,052 shares of the utilities provider’s stock after selling 378 shares during the quarter. Estabrook Capital Management’s holdings in NextEra Energy were worth $3,373,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Howard Capital Management Group LLC grew its stake in NextEra Energy by 1.8% during the third quarter. Howard Capital Management Group LLC now owns 299,215 shares of the utilities provider’s stock worth $25,293,000 after buying an additional 5,409 shares during the last quarter. Quarry LP acquired a new position in shares of NextEra Energy during the third quarter valued at $33,000. XTX Topco Ltd bought a new position in NextEra Energy in the third quarter valued at about $1,292,000. Geller Advisors LLC increased its position in NextEra Energy by 7.1% in the third quarter. Geller Advisors LLC now owns 4,423 shares of the utilities provider’s stock worth $374,000 after purchasing an additional 295 shares during the period. Finally, LRI Investments LLC raised its holdings in NextEra Energy by 3.1% during the 3rd quarter. LRI Investments LLC now owns 7,094 shares of the utilities provider’s stock worth $600,000 after purchasing an additional 210 shares during the last quarter. Institutional investors own 78.72% of the company’s stock.

Insider Buying and Selling

In related news, CAO James Michael May sold 2,383 shares of NextEra Energy stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total transaction of $162,258.47. Following the completion of the sale, the chief accounting officer now owns 27,427 shares of the company’s stock, valued at approximately $1,867,504.43. The trade was a 7.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NEE has been the topic of several analyst reports. Scotiabank increased their price objective on shares of NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Evercore ISI decreased their price objective on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a research note on Monday, January 27th. Morgan Stanley increased their target price on NextEra Energy from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Jefferies Financial Group cut their price target on shares of NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, NextEra Energy has an average rating of “Hold” and an average target price of $85.92.

NextEra Energy Stock Performance

Shares of NEE stock opened at $64.10 on Wednesday. The firm has a market cap of $131.94 billion, a PE ratio of 19.02, a P/E/G ratio of 2.45 and a beta of 0.58. NextEra Energy, Inc. has a 12 month low of $61.31 and a 12 month high of $86.10. The company’s fifty day simple moving average is $70.21 and its 200-day simple moving average is $74.26. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20.

NextEra Energy (NYSE:NEE) last released its earnings results 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 return on equity of 11.85% and a net margin of 28.06%. Equities research analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $0.5665 per share. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Friday, February 28th. NextEra Energy’s payout ratio is currently 67.06%.

NextEra Energy Company 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.