Connective Portfolio Management LLC Has $423,000 Position in NextEra Energy, Inc. (NYSE:NEE)

Connective Portfolio Management LLC reduced its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 66.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,000 shares of the utilities provider’s stock after selling 10,000 shares during the period. Connective Portfolio Management LLC’s holdings in NextEra Energy were worth $423,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NEE. Proffitt & Goodson Inc. boosted its holdings in NextEra Energy by 64.0% in the second quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 144 shares in the last quarter. Semmax Financial Advisors Inc. boosted its holdings in NextEra Energy by 197.4% during the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 225 shares during the period. American Capital Advisory LLC boosted its holdings in NextEra Energy by 74.5% during the first quarter. American Capital Advisory LLC now owns 480 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 205 shares during the period. Valley Wealth Managers Inc. bought a new stake in NextEra Energy during the second quarter valued at about $33,000. Finally, Neo Ivy Capital Management bought a new stake in NextEra Energy during the fourth quarter valued at about $40,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NextEra Energy

In other news, EVP Nicole J. Daggs sold 658 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.97, for a total transaction of $50,646.26. Following the completion of the sale, the executive vice president now owns 100 shares of the company’s stock, valued at approximately $7,697. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

NextEra Energy Price Performance

NYSE:NEE traded down $0.10 during mid-day trading on Wednesday, hitting $80.40. The company’s stock had a trading volume of 1,360,789 shares, compared to its average volume of 10,826,333. NextEra Energy, Inc. has a fifty-two week low of $49.52 and a fifty-two week high of $86.10. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $165.18 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 3.08 and a beta of 0.56. The stock has a fifty day moving average of $80.98 and a 200-day moving average of $74.51.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The firm had revenue of $6.07 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the prior year, the business posted $0.88 earnings per share. As a group, equities analysts forecast that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Friday, August 30th. NextEra Energy’s payout ratio is 56.13%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Scotiabank upped their price target on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Morgan Stanley upped their price target on shares of NextEra Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Bank of America upped their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Dbs Bank cut shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, Jefferies Financial Group started coverage on shares of NextEra Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $87.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $83.07.

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.