Montecito Bank & Trust Has $1.06 Million Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Montecito Bank & Trust lessened its stake in NextEra Energy, Inc. (NYSE:NEE) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,624 shares of the utilities provider’s stock after selling 553 shares during the quarter. Montecito Bank & Trust’s holdings in NextEra Energy were worth $1,062,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of NextEra Energy by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 198,430,172 shares of the utilities provider’s stock worth $11,368,065,000 after purchasing an additional 1,956,153 shares during the last quarter. Norges Bank acquired a new position in NextEra Energy during the fourth quarter worth approximately $2,561,055,000. Northern Trust Corp raised its stake in NextEra Energy by 2.0% in the third quarter. Northern Trust Corp now owns 22,982,250 shares of the utilities provider’s stock valued at $1,316,653,000 after buying an additional 455,271 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of NextEra Energy by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,782,674 shares of the utilities provider’s stock valued at $654,940,000 after buying an additional 429,979 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of NextEra Energy by 10.5% during the 4th quarter. 1832 Asset Management L.P. now owns 6,631,121 shares of the utilities provider’s stock worth $402,774,000 after acquiring an additional 629,032 shares during the period. 78.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NEE. Bank of America increased their price target on NextEra Energy from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. Scotiabank raised their target price on shares of NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Monday, April 22nd. Morgan Stanley upped their price target on shares of NextEra Energy from $79.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. BMO Capital Markets increased their price target on shares of NextEra Energy from $78.00 to $79.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Finally, Royal Bank of Canada upped their target price on NextEra Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, NextEra Energy has an average rating of “Moderate Buy” and a consensus price target of $76.50.

NextEra Energy Price Performance

Shares of NYSE NEE opened at $72.49 on Friday. The business has a fifty day moving average price of $72.09 and a two-hundred day moving average price of $63.91. The stock has a market capitalization of $148.93 billion, a PE ratio of 19.75, a P/E/G ratio of 2.58 and a beta of 0.56. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.51 and a quick ratio of 0.43. NextEra Energy, Inc. has a fifty-two week low of $47.15 and a fifty-two week high of $80.47.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $6.28 billion. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. NextEra Energy’s revenue for the quarter was down 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. As a group, equities analysts predict that NextEra Energy, Inc. will post 3.41 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Monday, June 3rd. NextEra Energy’s dividend payout ratio (DPR) is presently 56.13%.

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.