Spire Wealth Management Sells 9,923 Shares of NextEra Energy, Inc. (NYSE:NEE)

Spire Wealth Management trimmed its position in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 6.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,845 shares of the utilities provider's stock after selling 9,923 shares during the quarter. Spire Wealth Management's holdings in NextEra Energy were worth $10,623,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Bellwether Advisors LLC purchased a new position in shares of NextEra Energy in the 4th quarter valued at about $30,000. WealthTrak Capital Management LLC purchased a new position in NextEra Energy in the fourth quarter valued at approximately $33,000. Copia Wealth Management acquired a new position in shares of NextEra Energy in the 4th quarter valued at $36,000. Promus Capital LLC acquired a new stake in NextEra Energy during the 4th quarter worth $45,000. Finally, Mascoma Wealth Management LLC grew its holdings in shares of NextEra Energy by 41.3% during 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 during the last quarter. Institutional investors and hedge funds own 78.72% of the company's stock.

NextEra Energy Trading Up 1.0%

Shares of NEE traded up $0.69 during midday trading on Thursday, hitting $71.03. The stock had a trading volume of 8,010,651 shares, compared to its average volume of 10,966,112. The firm has a market cap of $146.22 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.68. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.10. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.32. The business has a 50-day simple moving average of $69.80 and a two-hundred day simple moving average of $70.22.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. The business had revenue of $6.25 billion during the quarter, compared to analyst estimates 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 period in the previous year, the company earned $0.91 EPS. As a group, equities analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

The company 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. This represents a $2.27 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Monday, June 2nd. NextEra Energy's dividend payout ratio (DPR) is 85.02%.

Insider Transactions at NextEra Energy

In related news, EVP Charles E. Sieving sold 23,684 shares of NextEra Energy 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 now directly owns 196,817 shares of the company's stock, valued at $13,777,190. This trade 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 through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on NEE shares. 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. Morgan Stanley cut their price target on shares of 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. raised their target price on shares of NextEra Energy from $90.00 to $91.00 and gave the company an "overweight" rating in a report on Tuesday, March 11th. BMO Capital Markets dropped 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. Finally, UBS Group lowered their target price on shares of NextEra Energy from $94.00 to $84.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $84.50.

About NextEra Energy

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.