Zullo Investment Group Inc. Cuts Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Zullo Investment Group Inc. lowered its position in NextEra Energy, Inc. (NYSE:NEE) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,516 shares of the utilities provider’s stock after selling 226 shares during the period. Zullo Investment Group Inc.’s holdings in NextEra Energy were worth $754,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Burkett Financial Services LLC boosted its stake in shares of NextEra Energy by 1,229.6% during the 4th quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 332 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of NextEra Energy during the third quarter valued at $27,000. Sugar Maple Asset Management LLC purchased a new stake in shares of NextEra Energy during the fourth quarter worth about $28,000. Quarry LP purchased a new stake in shares of NextEra Energy in the third quarter valued at $33,000. Finally, Luken Investment Analytics LLC acquired a new position in shares of NextEra Energy during the 4th quarter valued at about $36,000. 78.72% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Stock Up 0.8 %

Shares of NEE stock opened at $69.04 on Thursday. The stock has a market cap of $141.98 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 2.38 and a beta of 0.58. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.47 and a quick ratio of 0.38. The stock has a fifty day moving average price of $70.62 and a 200 day moving average price of $76.64. NextEra Energy, Inc. has a one year low of $53.95 and a one year high of $86.10.

NextEra Energy (NYSE:NEE) last posted its earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. Analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 3.28%. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.52. The ex-dividend date is Friday, February 28th. NextEra Energy’s dividend payout ratio (DPR) is presently 61.13%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NEE shares. JPMorgan Chase & Co. dropped their price target on NextEra Energy from $99.00 to $90.00 in a research note on Monday, January 27th. BMO Capital Markets upped their price objective on shares of NextEra Energy from $82.00 to $84.00 in a research report on Monday, January 27th. Scotiabank increased their target price on NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Evercore ISI decreased their price target on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a research note on Monday, January 27th. Finally, Morgan Stanley boosted their target price on shares of NextEra Energy from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, NextEra Energy presently has a consensus rating of “Hold” and an average price target of $85.85.

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.