Kingswood Wealth Advisors LLC Decreases Stake in NextEra Energy, Inc. (NYSE:NEE)

Kingswood Wealth Advisors LLC cut its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 19.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 91,277 shares of the utilities provider’s stock after selling 22,054 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in NextEra Energy were worth $6,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Burkett Financial Services LLC grew its stake in NextEra Energy by 1,229.6% during the 4th quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 332 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of NextEra Energy during the third quarter worth about $27,000. Sugar Maple Asset Management LLC purchased a new stake in NextEra Energy in the fourth quarter valued at approximately $28,000. Quarry LP purchased a new position in NextEra Energy during the 3rd quarter worth approximately $33,000. Finally, Maryland Capital Advisors Inc. acquired a new stake in NextEra Energy during the 3rd quarter valued at approximately $39,000. 78.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on NEE. Morgan Stanley raised their target price on shares of NextEra Energy from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday. Royal Bank of Canada downgraded NextEra Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Guggenheim raised their target price on NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. BMO Capital Markets boosted their price target on NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Barclays raised their price objective on shares of NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, NextEra Energy currently has an average rating of “Hold” and an average price target of $87.15.

Insiders Place Their Bets

In other news, EVP Nicole J. Daggs sold 4,007 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total value of $302,808.99. Following the transaction, the executive vice president now directly owns 15,792 shares of the company’s stock, valued at approximately $1,193,401.44. This trade represents a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

NextEra Energy Stock Up 5.3 %

NEE opened at $72.91 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.11. NextEra Energy, Inc. has a twelve month low of $53.95 and a twelve month high of $86.10. The company has a market cap of $149.93 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 2.29 and a beta of 0.58. The company has a 50-day moving average price of $73.02 and a 200 day moving average price of $77.16.

NextEra Energy (NYSE:NEE) last released its earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. Sell-side analysts expect that NextEra Energy, Inc. will post 3.41 earnings per share for the current fiscal year.

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.