Cullinan Associates Inc. Sells 7,221 Shares of NextEra Energy, Inc. (NYSE:NEE)

Cullinan Associates Inc. decreased its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,383 shares of the utilities provider's stock after selling 7,221 shares during the quarter. Cullinan Associates Inc.'s holdings in NextEra Energy were worth $1,516,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Tortoise Investment Management LLC boosted its stake in NextEra Energy by 8.3% in the 4th quarter. Tortoise Investment Management LLC now owns 1,943 shares of the utilities provider's stock valued at $139,000 after buying an additional 149 shares in the last quarter. Anchor Capital Advisors LLC boosted its stake in NextEra Energy by 5.1% in the 4th quarter. Anchor Capital Advisors LLC now owns 3,105 shares of the utilities provider's stock valued at $223,000 after buying an additional 150 shares in the last quarter. Cim LLC raised its position in NextEra Energy by 0.5% in the 4th quarter. Cim LLC now owns 33,434 shares of the utilities provider's stock valued at $2,397,000 after purchasing an additional 158 shares during the last quarter. Investment Partners LTD. raised its position in NextEra Energy by 4.9% in the 4th quarter. Investment Partners LTD. now owns 3,376 shares of the utilities provider's stock valued at $242,000 after purchasing an additional 159 shares during the last quarter. Finally, Exencial Wealth Advisors LLC raised its position in NextEra Energy by 1.3% in the 4th quarter. Exencial Wealth Advisors LLC now owns 12,080 shares of the utilities provider's stock valued at $866,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 78.72% of the company's stock.

NextEra Energy Trading Down 1.0%

NYSE NEE traded down $0.71 on Monday, reaching $70.82. The company had a trading volume of 8,670,070 shares, compared to its average volume of 10,984,931. The stock's 50 day moving average is $69.57 and its 200-day moving average is $70.24. The stock has a market cap of $145.79 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 2.52 and a beta of 0.68. 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 52 week low of $61.72 and a 52 week high of $86.10.

NextEra Energy (NYSE:NEE - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.99 EPS for the quarter, meeting analysts' consensus estimates of $0.99. The business had revenue of $6.25 billion during the quarter, compared to the consensus estimate of $6.58 billion. NextEra Energy had a return on equity of 12.06% and a net margin of 21.81%. The firm's revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 earnings per share. Equities analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend was Monday, June 2nd. NextEra Energy's dividend payout ratio (DPR) is presently 85.02%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NEE shares. BMO Capital Markets cut their price objective on NextEra Energy from $84.00 to $77.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Guggenheim reiterated a "buy" rating and issued a $89.00 price objective on shares of NextEra Energy in a research report on Thursday, March 20th. Wells Fargo & Company cut their price objective on NextEra Energy from $102.00 to $97.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. UBS Group cut their price objective on NextEra Energy from $94.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Finally, Barclays cut their price objective on NextEra Energy from $73.00 to $65.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, NextEra Energy has a consensus rating of "Moderate Buy" and an average price target of $84.50.

Insider Activity

In other 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 completion of the transaction, the executive vice president now directly owns 196,817 shares of the company's stock, valued at $13,777,190. This represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.