Arrow Financial Corp Sells 246 Shares of NextEra Energy, Inc. (NYSE:NEE)

Arrow Financial Corp trimmed its position in NextEra Energy, Inc. (NYSE:NEE) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,577 shares of the utilities provider’s stock after selling 246 shares during the quarter. Arrow Financial Corp’s holdings in NextEra Energy were worth $1,232,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new position in NextEra Energy during the 3rd quarter worth about $27,000. Semmax Financial Advisors Inc. boosted its stake in shares of NextEra Energy by 197.4% during the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 225 shares in the last quarter. Proffitt & Goodson Inc. increased its holdings in NextEra Energy by 64.0% during the second quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after buying an additional 144 shares during the period. Valley Wealth Managers Inc. bought a new position in NextEra Energy in the second quarter worth approximately $33,000. Finally, Maryland Capital Advisors Inc. purchased a new stake in NextEra Energy during the third quarter worth $39,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NEE. Royal Bank of Canada downgraded NextEra Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Bank of America lifted their target price on NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Jefferies Financial Group initiated coverage on shares of NextEra Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $87.00 price target for the company. Dbs Bank downgraded shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Barclays increased their target price on shares of NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, NextEra Energy presently has a consensus rating of “Hold” and a consensus price target of $86.54.

NextEra Energy Trading Up 3.1 %

NYSE NEE opened at $76.97 on Friday. NextEra Energy, Inc. has a 12-month low of $53.81 and a 12-month high of $86.10. The company has a fifty day simple moving average of $82.05 and a two-hundred day simple moving average of $77.11. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11. The stock has a market cap of $158.28 billion, a P/E ratio of 22.77, a P/E/G ratio of 2.69 and a beta of 0.57.

NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The company had revenue of $7.57 billion during the quarter, compared to analyst estimates of $8.11 billion. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. On average, analysts forecast that NextEra Energy, Inc. will post 3.41 earnings per share for the current year.

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be given a $0.515 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a yield of 2.68%. NextEra Energy’s dividend payout ratio is currently 60.95%.

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.