Asset Dedication LLC Sells 5,422 Shares of NextEra Energy, Inc. (NYSE:NEE)

Asset Dedication LLC reduced its position in NextEra Energy, Inc. (NYSE:NEE) by 57.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,978 shares of the utilities provider’s stock after selling 5,422 shares during the quarter. Asset Dedication LLC’s holdings in NextEra Energy were worth $285,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Regal Investment Advisors LLC grew its position in NextEra Energy by 11.0% during the second quarter. Regal Investment Advisors LLC now owns 3,503 shares of the utilities provider’s stock worth $248,000 after buying an additional 346 shares in the last quarter. Granite Bay Wealth Management LLC bought a new stake in shares of NextEra Energy during the 2nd quarter valued at about $316,000. 3Chopt Investment Partners LLC purchased a new position in shares of NextEra Energy during the second quarter worth about $394,000. Cetera Investment Advisers increased its position in shares of NextEra Energy by 7.4% in the second quarter. Cetera Investment Advisers now owns 575,209 shares of the utilities provider’s stock worth $40,731,000 after purchasing an additional 39,522 shares during the last quarter. Finally, Farmers National Bank raised its stake in NextEra Energy by 2.0% in the second quarter. Farmers National Bank now owns 63,742 shares of the utilities provider’s stock valued at $4,514,000 after purchasing an additional 1,251 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Price Performance

NEE stock opened at $70.95 on Thursday. The stock has a market capitalization of $145.90 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.29 and a beta of 0.58. The firm’s 50-day moving average price is $72.83 and its two-hundred day moving average price is $77.14. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11. NextEra Energy, Inc. has a 12-month low of $53.95 and a 12-month high of $86.10.

NextEra Energy (NYSE:NEE) last announced its quarterly 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 11.94% and a net margin of 26.49%. As a group, equities analysts predict that NextEra Energy, Inc. will post 3.41 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Nicole J. Daggs sold 4,007 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total value of $302,808.99. Following the completion of the sale, the executive vice president now directly owns 15,792 shares of the company’s stock, valued at approximately $1,193,401.44. This trade represents a 20.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of NextEra Energy from $99.00 to $90.00 in a research note on Monday. BMO Capital Markets increased their target price on NextEra Energy from $82.00 to $84.00 in a research note on Monday. Morgan Stanley lifted their price target on NextEra Energy from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Guggenheim increased their price objective on NextEra Energy from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Barclays boosted their target price on NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $85.85.

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.