Somerset Group LLC Reduces Stock Holdings in NextEra Energy, Inc. (NYSE:NEE)

Somerset Group LLC lowered its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,000 shares of the utilities provider’s stock after selling 164 shares during the quarter. NextEra Energy accounts for approximately 3.4% of Somerset Group LLC’s investment portfolio, making the stock its 9th biggest holding. Somerset Group LLC’s holdings in NextEra Energy were worth $3,728,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Burkett Financial Services LLC grew its position 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 valued at $26,000 after buying an additional 332 shares during the period. Sugar Maple Asset Management LLC bought a new position in shares of NextEra Energy during the 4th quarter valued at approximately $28,000. Quarry LP purchased a new stake in shares of NextEra Energy during the 3rd quarter worth approximately $33,000. Luken Investment Analytics LLC bought a new stake in shares of NextEra Energy in the 4th quarter worth approximately $36,000. Finally, Harvest Fund Management Co. Ltd lifted its stake in NextEra Energy by 2,482.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 594 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 571 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

NYSE NEE opened at $70.92 on Friday. The company’s 50 day simple moving average is $70.62 and its two-hundred day simple moving average is $75.56. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.47 and a quick ratio of 0.38. NextEra Energy, Inc. has a 1 year low of $61.30 and a 1 year high of $86.10. The stock has a market capitalization of $145.87 billion, a PE ratio of 21.04, a P/E/G ratio of 2.45 and a beta of 0.58.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. Analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. NextEra Energy’s dividend payout ratio (DPR) is 67.06%.

Analyst Ratings Changes

A number of research firms have issued reports on NEE. Jefferies Financial Group decreased their target price on NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price objective on NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Evercore ISI dropped 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 report on Monday, January 27th. BMO Capital Markets lifted their target price on shares of NextEra Energy from $82.00 to $84.00 in a research note on Monday, January 27th. Finally, Scotiabank upped their price target on shares of NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Eight 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 has an average rating of “Hold” and a consensus price target of $85.92.

Insider Transactions at NextEra Energy

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of NextEra Energy stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total transaction of $162,258.47. Following the completion of the sale, the chief accounting officer now directly owns 27,427 shares in the company, valued at $1,867,504.43. The trade was a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by insiders.

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.