Adell Harriman & Carpenter Inc. Sells 7,167 Shares of NextEra Energy, Inc. (NYSE:NEE)

Adell Harriman & Carpenter Inc. trimmed its position in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 11.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,559 shares of the utilities provider's stock after selling 7,167 shares during the period. Adell Harriman & Carpenter Inc.'s holdings in NextEra Energy were worth $3,797,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in NEE. Bellwether Advisors LLC bought a new stake in shares of NextEra Energy in the 4th quarter worth approximately $30,000. WealthTrak Capital Management LLC acquired a new position in NextEra Energy in the 4th quarter valued at approximately $33,000. Copia Wealth Management acquired a new position in NextEra Energy in the 4th quarter valued at approximately $36,000. Promus Capital LLC acquired a new position in NextEra Energy in the 4th quarter valued at approximately $45,000. Finally, Graney & King LLC bought a new stake in NextEra Energy in the fourth quarter worth approximately $46,000. 78.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Charles E. Sieving sold 23,684 shares of NextEra Energy stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the transaction, the executive vice president owned 196,817 shares of the company's stock, valued at $13,777,190. This trade represents a 10.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Erste Group Bank downgraded shares of NextEra Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an "overweight" rating in a report on Tuesday, March 11th. Barclays decreased their price objective on shares of NextEra Energy from $73.00 to $65.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company cut their target price on shares of NextEra Energy from $102.00 to $97.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Morgan Stanley cut their target price on shares of NextEra Energy from $95.00 to $94.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, NextEra Energy currently has an average rating of "Moderate Buy" and an average price target of $84.55.

NextEra Energy Price Performance

Shares of NEE stock traded down $2.25 during mid-day trading on Tuesday, reaching $72.50. The company's stock had a trading volume of 19,219,094 shares, compared to its average volume of 12,571,293. The company has a market cap of $149.25 billion, a P/E ratio of 27.15, a PEG ratio of 2.60 and a beta of 0.67. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.45 and a current ratio of 0.55. The firm's 50-day moving average is $70.79 and its two-hundred day moving average is $70.17. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.10.

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

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Monday, June 2nd. NextEra Energy's dividend payout ratio (DPR) is presently 84.64%.

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.