Zions Bancorporation N.A. Sells 20,614 Shares of NextEra Energy, Inc. (NYSE:NEE)

Zions Bancorporation N.A. cut its stake in NextEra Energy, Inc. (NYSE:NEE) by 47.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,188 shares of the utilities provider’s stock after selling 20,614 shares during the quarter. Zions Bancorporation N.A.’s holdings in NextEra Energy were worth $1,662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TIAA Trust National Association lifted its holdings in NextEra Energy by 1.9% in the fourth quarter. TIAA Trust National Association now owns 125,034 shares of the utilities provider’s stock worth $8,964,000 after buying an additional 2,296 shares during the period. FineMark National Bank & Trust raised its position in shares of NextEra Energy by 10.6% in the 4th quarter. FineMark National Bank & Trust now owns 274,663 shares of the utilities provider’s stock worth $19,691,000 after acquiring an additional 26,326 shares in the last quarter. Ashton Thomas Securities LLC lifted its stake in shares of NextEra Energy by 5.8% in the 4th quarter. Ashton Thomas Securities LLC now owns 8,789 shares of the utilities provider’s stock valued at $634,000 after purchasing an additional 480 shares during the period. Modern Wealth Management LLC boosted its position in shares of NextEra Energy by 1,096.6% during the fourth quarter. Modern Wealth Management LLC now owns 209,708 shares of the utilities provider’s stock valued at $14,617,000 after purchasing an additional 192,183 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC boosted its position in shares of NextEra Energy by 16.5% during the fourth quarter. Zevenbergen Capital Investments LLC now owns 17,398 shares of the utilities provider’s stock valued at $1,247,000 after purchasing an additional 2,470 shares in the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NEE has been the subject of several recent research reports. Evercore ISI lowered their price objective on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price objective on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Scotiabank raised their target price 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. Jefferies Financial Group dropped their price target on NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. Finally, Morgan Stanley raised their price objective on NextEra Energy from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. 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, NextEra Energy has a consensus rating of “Hold” and a consensus price target of $85.92.

NextEra Energy Stock Down 2.0 %

NEE opened at $68.70 on Wednesday. The stock has a market capitalization of $141.32 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.45 and a beta of 0.58. The firm has a 50 day moving average price of $70.70 and a 200-day moving average price of $75.34. NextEra Energy, Inc. has a twelve month low of $61.30 and a twelve month high of $86.10. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20.

NextEra Energy (NYSE:NEE) last posted its earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. Equities research analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a dividend of $0.5665 per share. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Friday, February 28th. NextEra Energy’s dividend payout ratio is currently 67.06%.

Insiders Place Their Bets

In other news, CAO James Michael May sold 2,383 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total value 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. This represents a 7.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

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.