Alpha Cubed Investments LLC Reduces Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Alpha Cubed Investments LLC cut its holdings in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 3.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 672,244 shares of the utilities provider's stock after selling 23,979 shares during the period. NextEra Energy makes up about 2.1% of Alpha Cubed Investments LLC's portfolio, making the stock its 13th largest holding. Alpha Cubed Investments LLC's holdings in NextEra Energy were worth $47,655,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Somerset Trust Co boosted its holdings in NextEra Energy by 5.2% in the 1st quarter. Somerset Trust Co now owns 89,709 shares of the utilities provider's stock worth $6,359,000 after buying an additional 4,445 shares during the last quarter. Viking Fund Management LLC boosted its holdings in NextEra Energy by 67.8% in the 1st quarter. Viking Fund Management LLC now owns 495,000 shares of the utilities provider's stock worth $35,091,000 after buying an additional 200,000 shares during the last quarter. Trust Co. of Vermont boosted its holdings in NextEra Energy by 2.2% in the 1st quarter. Trust Co. of Vermont now owns 385,592 shares of the utilities provider's stock worth $27,335,000 after buying an additional 8,472 shares during the last quarter. GAMMA Investing LLC boosted its holdings in NextEra Energy by 20.7% in the 1st quarter. GAMMA Investing LLC now owns 34,681 shares of the utilities provider's stock worth $2,459,000 after buying an additional 5,949 shares during the last quarter. Finally, Blackstone Inc. boosted its holdings in shares of NextEra Energy by 75.3% during the 4th quarter. Blackstone Inc. now owns 3,313,252 shares of the utilities provider's stock worth $237,527,000 after purchasing an additional 1,423,730 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Trading Up 1.1%

NYSE NEE traded up $0.82 on Monday, reaching $74.70. The stock had a trading volume of 11,355,582 shares, compared to its average volume of 11,061,432. The firm has a market capitalization of $153.78 billion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 2.60 and a beta of 0.67. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.32. NextEra Energy, Inc. has a 12-month low of $61.72 and a 12-month high of $86.10. The stock has a fifty day moving average price of $70.62 and a two-hundred day moving average price of $70.15.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. NextEra Energy had a return on equity of 12.06% and a net margin of 21.81%. The business had revenue of $6.25 billion for the quarter, compared to analysts' expectations of $6.58 billion. During the same period last year, the firm earned $0.91 earnings per share. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.5665 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.27 annualized dividend and a yield of 3.03%. NextEra Energy's dividend payout ratio (DPR) is 85.02%.

Insiders Place Their Bets

In other NextEra Energy news, EVP Charles E. Sieving sold 23,684 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the sale, the executive vice president owned 196,817 shares in the company, valued at $13,777,190. This represents a 10.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NEE has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their target price on NextEra Energy from $90.00 to $91.00 and gave the stock an "overweight" rating in a report on Tuesday, March 11th. Barclays lowered their target price on NextEra Energy from $73.00 to $65.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 29th. Guggenheim restated a "buy" rating and set a $89.00 target price on shares of NextEra Energy in a report on Thursday, March 20th. BMO Capital Markets lowered their target price on NextEra Energy from $84.00 to $77.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Wells Fargo & Company lowered their target price on NextEra Energy from $102.00 to $97.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $84.55.

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.