Taurus Asset Management LLC Lowers Holdings in NextEra Energy, Inc. (NYSE:NEE)

Taurus Asset Management LLC reduced its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 4.0% in the third quarter, Holdings Channel reports. The firm owned 264,755 shares of the utilities provider’s stock after selling 11,085 shares during the period. NextEra Energy comprises approximately 2.2% of Taurus Asset Management LLC’s holdings, making the stock its 18th biggest position. Taurus Asset Management LLC’s holdings in NextEra Energy were worth $22,380,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NEE. Catalytic Wealth RIA LLC bought a new stake in shares of NextEra Energy during the 1st quarter valued at about $212,000. Rockport Wealth LLC purchased a new stake in NextEra Energy in the first quarter valued at approximately $231,000. O Shaughnessy Asset Management LLC lifted its position in NextEra Energy by 26.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 147,600 shares of the utilities provider’s stock valued at $9,433,000 after purchasing an additional 30,457 shares during the last quarter. PYA Waltman Capital LLC grew its stake in NextEra Energy by 10.4% in the 1st quarter. PYA Waltman Capital LLC now owns 12,176 shares of the utilities provider’s stock worth $778,000 after buying an additional 1,143 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC bought a new position in shares of NextEra Energy in the 1st quarter worth $334,000. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

Shares of NEE stock opened at $76.35 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.33 and a current ratio of 0.41. NextEra Energy, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $86.10. The company has a market capitalization of $157.01 billion, a P/E ratio of 22.59, a PEG ratio of 2.76 and a beta of 0.57. The stock has a 50 day moving average price of $81.53 and a two-hundred day moving average price of $77.55.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. The business had revenue of $7.57 billion during the quarter, compared to analysts’ expectations of $8.11 billion. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 EPS. Analysts expect that NextEra Energy, Inc. will post 3.41 earnings per share for the current year.

NextEra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 annualized dividend and a dividend yield of 2.70%. NextEra Energy’s payout ratio is presently 60.95%.

Wall Street Analysts Forecast Growth

NEE has been the subject of a number of research analyst reports. Royal Bank of Canada downgraded shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Dbs Bank lowered NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. Guggenheim upped their price objective on NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. BMO Capital Markets raised their price objective on NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company boosted their target price on NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, NextEra Energy has an average rating of “Hold” and an average target price of $86.54.

Insider Activity at NextEra Energy

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,007 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 owns 15,792 shares in the company, valued at approximately $1,193,401.44. This trade represents a 20.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by company 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.