Sequoia Financial Advisors LLC Has $6.64 Million Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Sequoia Financial Advisors LLC reduced its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 34.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,601 shares of the utilities provider's stock after selling 48,992 shares during the quarter. Sequoia Financial Advisors LLC's holdings in NextEra Energy were worth $6,635,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bellwether Advisors LLC acquired a new position in shares of NextEra Energy in the fourth quarter worth approximately $30,000. WealthTrak Capital Management LLC acquired a new position in shares of NextEra Energy in the fourth quarter worth approximately $33,000. Copia Wealth Management acquired a new position in shares of NextEra Energy in the fourth quarter worth approximately $36,000. Promus Capital LLC bought a new stake in NextEra Energy in the fourth quarter worth approximately $45,000. Finally, Mascoma Wealth Management LLC increased its holdings in NextEra Energy by 41.3% in the fourth quarter. Mascoma Wealth Management LLC now owns 643 shares of the utilities provider's stock worth $46,000 after purchasing an additional 188 shares in the last quarter. 78.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Charles E. Sieving sold 23,684 shares of the company's stock in a transaction on 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 sale, the executive vice president now owns 196,817 shares in the company, valued at approximately $13,777,190. This represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on NextEra Energy from $102.00 to $97.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Guggenheim reiterated a "buy" rating and issued a $89.00 target price on shares of NextEra Energy in a report on Thursday, March 20th. Morgan Stanley lowered their target price on NextEra Energy from $95.00 to $94.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. JPMorgan Chase & Co. lifted 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. Finally, Erste Group Bank downgraded NextEra Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, NextEra Energy currently has an average rating of "Moderate Buy" and an average target price of $84.55.

NextEra Energy Trading Down 0.0%

NYSE NEE opened at $70.96 on Friday. The company has a market cap of $146.07 billion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 2.50 and a beta of 0.68. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $86.10. The business has a 50 day moving average price of $69.99 and a 200-day moving average price of $70.17. 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 (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 the consensus estimate of $0.99. The firm 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 company's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. As a group, equities analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.5665 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.27 annualized dividend and a yield of 3.19%. NextEra Energy's dividend payout ratio (DPR) is currently 85.02%.

NextEra Energy Company 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.

Want to see what other hedge funds are holding NEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NextEra Energy, Inc. (NYSE:NEE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.