Maryland State Retirement & Pension System cut its stake in shares of NextEra Energy, Inc. (NYSE:NEE – Free Report) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,657 shares of the utilities provider’s stock after selling 2,573 shares during the quarter. Maryland State Retirement & Pension System’s holdings in NextEra Energy were worth $11,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its position in NextEra Energy by 2.2% in the first quarter. Geode Capital Management LLC now owns 35,233,291 shares of the utilities provider’s stock worth $2,708,599,000 after acquiring an additional 749,254 shares in the last quarter. Norges Bank bought a new position in shares of NextEra Energy during the 4th quarter valued at about $2,774,845,000. Moneta Group Investment Advisors LLC raised its holdings in shares of NextEra Energy by 66,613.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 30,263,816 shares of the utilities provider’s stock valued at $2,530,055,000 after buying an additional 30,218,452 shares in the last quarter. Bank of New York Mellon Corp lifted its position in NextEra Energy by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,626,941 shares of the utilities provider’s stock worth $1,538,947,000 after buying an additional 315,356 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in NextEra Energy by 7.0% in the fourth quarter. Deutsche Bank AG now owns 13,532,957 shares of the utilities provider’s stock worth $1,131,355,000 after buying an additional 882,316 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have commented on NEE shares. Royal Bank of Canada decreased their price target on shares of NextEra Energy from $90.00 to $89.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 6th. Guggenheim cut their price target on shares of NextEra Energy from $92.00 to $86.00 in a research report on Friday, July 7th. Morgan Stanley reduced their price objective on NextEra Energy from $93.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 23rd. JPMorgan Chase & Co. lowered their target price on NextEra Energy from $85.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, August 30th. Finally, The Goldman Sachs Group initiated coverage on NextEra Energy in a research report on Wednesday, June 7th. They set a “buy” rating and a $90.00 price target on the stock. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $87.90.
Insider Buying and Selling at NextEra Energy
In other news, Director Kirk S. Hachigian bought 10,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was purchased at an average price of $67.95 per share, with a total value of $679,500.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $1,019,250. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other NextEra Energy news, Director James Lawrence Camaren bought 4,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was acquired at an average price of $67.85 per share, with a total value of $271,400.00. Following the completion of the purchase, the director now owns 8,000 shares of the company’s stock, valued at $542,800. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kirk S. Hachigian purchased 10,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $67.95 per share, for a total transaction of $679,500.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $1,019,250. The disclosure for this purchase can be found here. Insiders own 0.38% of the company’s stock.
NextEra Energy Trading Down 0.9 %
NYSE NEE opened at $68.64 on Friday. The stock has a market cap of $138.91 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 2.63 and a beta of 0.47. NextEra Energy, Inc. has a fifty-two week low of $65.36 and a fifty-two week high of $88.61. The stock has a 50 day simple moving average of $69.78 and a two-hundred day simple moving average of $73.40. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.45 and a current ratio of 0.53.
NextEra Energy (NYSE:NEE – Get Free Report) last announced its earnings results on Tuesday, July 25th. The utilities provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. The company had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $6.68 billion. NextEra Energy had a return on equity of 12.25% and a net margin of 30.05%. During the same quarter in the prior year, the company earned $0.81 earnings per share. On average, analysts forecast that NextEra Energy, Inc. will post 3.11 earnings per share for the current year.
NextEra Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Wednesday, August 30th were issued a $0.4675 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.87 annualized dividend and a yield of 2.72%. NextEra Energy’s dividend payout ratio (DPR) is presently 46.29%.
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, coal, and natural gas facilities. 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.
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