NextEra Energy, Inc. (NYSE:NEE) Sees Large Drop in Short Interest

NextEra Energy, Inc. (NYSE:NEE) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 34,860,000 shares, a drop of 16.8% from the March 15th total of 41,900,000 shares. Approximately 1.7% of the shares of the stock are short sold. Based on an average daily volume of 12,340,000 shares, the short-interest ratio is currently 2.8 days.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NEE. Erste Group Bank raised shares of NextEra Energy to a “strong-buy” rating in a report on Wednesday, April 16th. BMO Capital Markets decreased their price target on NextEra Energy from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. boosted their price objective on NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Guggenheim reissued a “buy” rating and set a $89.00 price target on shares of NextEra Energy in a research note on Thursday, March 20th. Finally, Evercore ISI reduced their price objective on shares of 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, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.15.

Insider Activity at NextEra Energy

In related news, CAO James Michael May sold 2,383 shares of NextEra Energy stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 27,427 shares of the company’s stock, valued at $1,867,504.43. The trade was a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On NextEra Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Burkett Financial Services LLC raised 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 worth $26,000 after acquiring an additional 332 shares in the last quarter. Sugar Maple Asset Management LLC bought a new position in shares of NextEra Energy in the fourth quarter valued at $28,000. Bellwether Advisors LLC acquired a new position in NextEra Energy during the fourth quarter worth $30,000. WealthTrak Capital Management LLC acquired a new stake in NextEra Energy in the fourth quarter valued at $33,000. Finally, Luken Investment Analytics LLC acquired a new position in shares of NextEra Energy during the 4th quarter worth about $36,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Stock Down 2.1 %

Shares of NYSE:NEE traded down $1.38 during midday trading on Monday, reaching $64.93. 2,445,363 shares of the company were exchanged, compared to its average volume of 11,952,065. The firm has a market cap of $133.66 billion, a PE ratio of 19.27, a P/E/G ratio of 2.45 and a beta of 0.58. NextEra Energy has a fifty-two week low of $61.72 and a fifty-two week high of $86.10. The stock has a fifty day simple moving average of $69.63 and a two-hundred day simple moving average of $73.14. 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 issued its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 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%. As a group, sell-side analysts forecast that NextEra Energy will post 3.68 earnings per share for the current year.

NextEra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Friday, February 28th. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.52. NextEra Energy’s 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.