Pinnacle Wealth Management Advisory Group LLC Sells 2,539 Shares of NextEra Energy, Inc. (NYSE:NEE)

Pinnacle Wealth Management Advisory Group LLC lowered its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 11.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,096 shares of the utilities provider’s stock after selling 2,539 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in NextEra Energy were worth $1,221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Avitas Wealth Management LLC lifted its position in NextEra Energy by 2.9% during the fourth quarter. Avitas Wealth Management LLC now owns 37,843 shares of the utilities provider’s stock valued at $2,299,000 after purchasing an additional 1,057 shares during the period. Stiles Financial Services Inc boosted its stake in shares of NextEra Energy by 9.0% in the 4th quarter. Stiles Financial Services Inc now owns 35,180 shares of the utilities provider’s stock worth $2,137,000 after buying an additional 2,899 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of NextEra Energy by 1.7% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 383,932 shares of the utilities provider’s stock worth $21,995,000 after acquiring an additional 6,325 shares during the period. Asio Capital LLC purchased a new stake in NextEra Energy during the fourth quarter valued at $2,701,000. Finally, AJOVista LLC bought a new position in NextEra Energy in the fourth quarter valued at about $162,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NEE shares. Wells Fargo & Company upped their price target on shares of NextEra Energy from $84.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Mizuho increased their price target on shares of NextEra Energy from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. BMO Capital Markets boosted their price objective on shares of NextEra Energy from $72.00 to $78.00 and gave the company an “outperform” rating in a research report on Tuesday. Bank of America raised their target price on NextEra Energy from $61.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $74.00 price target on shares of NextEra Energy in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy presently has an average rating of “Moderate Buy” and an average target price of $71.93.

NextEra Energy Price Performance

Shares of NYSE:NEE traded up $0.89 during midday trading on Wednesday, reaching $72.84. 9,912,914 shares of the company were exchanged, compared to its average volume of 11,909,226. The stock has a market cap of $149.65 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 2.58 and a beta of 0.50. The business’s fifty day moving average is $62.65 and its two-hundred day moving average is $59.94. NextEra Energy, Inc. has a one year low of $47.15 and a one year high of $78.53. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.12.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.80 by $0.11. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. The business’s revenue was down 14.7% on a year-over-year basis. As a group, analysts predict that NextEra Energy, Inc. will post 3.4 earnings per share for the current year.

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were given a dividend of $0.515 per share. This is an increase from NextEra Energy’s previous quarterly dividend of $0.47. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Monday, February 26th. NextEra Energy’s dividend payout ratio is currently 56.13%.

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.