Sumitomo Life Insurance Co. Has $5.97 Million Stock Holdings in NextEra Energy, Inc. (NYSE:NEE)

Sumitomo Life Insurance Co. trimmed its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 25.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,243 shares of the utilities provider’s stock after selling 28,435 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in NextEra Energy were worth $5,968,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tandem Capital Management Corp ADV boosted its holdings in shares of NextEra Energy by 1.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 9,935 shares of the utilities provider’s stock worth $840,000 after buying an additional 125 shares in the last quarter. Insight Folios Inc increased its holdings in shares of NextEra Energy by 1.5% during the third quarter. Insight Folios Inc now owns 8,439 shares of the utilities provider’s stock valued at $713,000 after acquiring an additional 126 shares in the last quarter. Taylor & Morgan Wealth Management LLC raised its holdings in NextEra Energy by 1.7% during the third quarter. Taylor & Morgan Wealth Management LLC now owns 7,744 shares of the utilities provider’s stock worth $655,000 after buying an additional 126 shares during the last quarter. Osborne Partners Capital Management LLC raised its holdings in shares of NextEra Energy by 1.2% in the 3rd quarter. Osborne Partners Capital Management LLC now owns 10,724 shares of the utilities provider’s stock worth $906,000 after acquiring an additional 128 shares during the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of NextEra Energy by 0.4% in the third quarter. Boston Trust Walden Corp now owns 30,720 shares of the utilities provider’s stock worth $2,597,000 after purchasing an additional 130 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Price Performance

NEE stock opened at $70.50 on Wednesday. The firm has a 50 day simple moving average of $72.97 and a two-hundred day simple moving average of $77.18. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33. The stock has a market cap of $144.97 billion, a PE ratio of 20.86, a P/E/G ratio of 2.29 and a beta of 0.58. NextEra Energy, Inc. has a one year low of $53.95 and a one year high of $86.10.

NextEra Energy (NYSE:NEE) last released its earnings results on Friday, January 24th. The utilities provider reported $0.53 EPS for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. On average, analysts predict that NextEra Energy, Inc. will post 3.41 EPS for the current fiscal year.

Insider Buying and Selling

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,007 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total transaction of $302,808.99. Following the transaction, the executive vice president now directly owns 15,792 shares in the company, valued at $1,193,401.44. This trade represents a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on NEE shares. Jefferies Financial Group dropped their target price on shares of NextEra Energy from $81.00 to $77.00 in a research report on Monday. Morgan Stanley raised their target price on NextEra Energy from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Guggenheim upped their price target on NextEra Energy from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada downgraded NextEra Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, Barclays boosted their price objective on NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average 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.