Costello Asset Management INC Sells 4,880 Shares of NextEra Energy, Inc. (NYSE:NEE)

Costello Asset Management INC trimmed its position in NextEra Energy, Inc. (NYSE:NEE) by 67.1% during the third quarter, HoldingsChannel.com reports. The firm owned 2,389 shares of the utilities provider’s stock after selling 4,880 shares during the quarter. Costello Asset Management INC’s holdings in NextEra Energy were worth $202,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NEE. M&G Plc bought a new position in NextEra Energy in the first quarter valued at $303,065,000. International Assets Investment Management LLC increased its position in shares of NextEra Energy by 8,641.5% in the third quarter. International Assets Investment Management LLC now owns 3,861,208 shares of the utilities provider’s stock valued at $326,388,000 after acquiring an additional 3,817,037 shares during the last quarter. Zimmer Partners LP raised its holdings in NextEra Energy by 8,447.5% during the first quarter. Zimmer Partners LP now owns 2,735,200 shares of the utilities provider’s stock worth $174,807,000 after acquiring an additional 2,703,200 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in NextEra Energy by 4,058.2% in the third quarter. Assenagon Asset Management S.A. now owns 2,366,795 shares of the utilities provider’s stock valued at $200,065,000 after purchasing an additional 2,309,876 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of NextEra Energy by 57.0% during the 2nd quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock worth $421,831,000 after purchasing an additional 2,163,437 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Scotiabank raised their target price on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Morgan Stanley boosted their price objective on shares of NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Guggenheim upped their target price on shares of NextEra Energy from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Bank of America lifted their price target on NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company upped their price objective on NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $86.54.

NextEra Energy Stock Up 3.1 %

NEE stock opened at $76.97 on Friday. NextEra Energy, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $86.10. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33. The stock has a market capitalization of $158.28 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 2.69 and a beta of 0.57. The business’s fifty day moving average price is $82.05 and its two-hundred day moving average price is $77.11.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The business had revenue of $7.57 billion for the quarter, compared to analyst estimates of $8.11 billion. During the same period last year, the firm earned $0.94 earnings per share. NextEra Energy’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that NextEra Energy, Inc. will post 3.41 earnings per share for the current year.

NextEra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s dividend payout ratio is currently 60.95%.

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.