Legal & General Group Plc Cuts Stake in NextEra Energy, Inc. (NYSE:NEE)

Legal & General Group Plc lowered its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 20.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,677,850 shares of the utilities provider's stock after selling 4,013,153 shares during the period. Legal & General Group Plc owned about 0.76% of NextEra Energy worth $1,123,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in NEE. Empowered Funds LLC increased its holdings in NextEra Energy by 14.7% in the fourth quarter. Empowered Funds LLC now owns 45,566 shares of the utilities provider's stock valued at $3,267,000 after buying an additional 5,831 shares during the last quarter. Empower Advisory Group LLC increased its holdings in shares of NextEra Energy by 2.3% in the 4th quarter. Empower Advisory Group LLC now owns 1,823,327 shares of the utilities provider's stock valued at $130,714,000 after acquiring an additional 41,328 shares during the last quarter. Nordea Investment Management AB raised its position in shares of NextEra Energy by 20.9% during the 4th quarter. Nordea Investment Management AB now owns 8,833,725 shares of the utilities provider's stock worth $634,703,000 after acquiring an additional 1,525,436 shares in the last quarter. Czech National Bank lifted its stake in NextEra Energy by 6.5% during the fourth quarter. Czech National Bank now owns 445,870 shares of the utilities provider's stock worth $31,964,000 after purchasing an additional 27,340 shares during the last quarter. Finally, ST Germain D J Co. Inc. boosted its holdings in NextEra Energy by 5.8% in the fourth quarter. ST Germain D J Co. Inc. now owns 171,735 shares of the utilities provider's stock valued at $12,312,000 after purchasing an additional 9,425 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Jefferies Financial Group cut their price objective on shares of NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. JPMorgan Chase & Co. lifted their price target 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. BMO Capital Markets upped their price objective on shares of NextEra Energy from $82.00 to $84.00 in a research note on Monday, January 27th. Evercore ISI cut their target price on NextEra Energy from $84.00 to $79.00 and set an "in-line" rating on the stock in a research report on Monday, January 27th. Finally, Morgan Stanley boosted their target price on NextEra Energy from $95.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $85.92.

Insiders Place Their Bets

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of the business'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 transaction, the chief accounting officer now directly owns 27,427 shares in the company, valued at approximately $1,867,504.43. The trade was a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by corporate insiders.

NextEra Energy Price Performance

Shares of NEE stock traded down $1.00 during trading hours on Friday, hitting $65.72. The company's stock had a trading volume of 14,853,104 shares, compared to its average volume of 10,823,000. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20. NextEra Energy, Inc. has a twelve month low of $61.31 and a twelve month high of $86.10. The stock has a market cap of $135.29 billion, a price-to-earnings ratio of 19.50, a P/E/G ratio of 2.45 and a beta of 0.58. The business has a fifty day moving average of $69.89 and a 200-day moving average of $73.84.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its earnings results on Friday, January 24th. The utilities provider reported $0.53 EPS 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%. As a group, equities research analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 3.45%. This is a positive change from NextEra Energy's previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, February 28th. NextEra Energy's dividend payout ratio is 67.06%.

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.