NextEra Energy, Inc. $NEE Stake Boosted by Great Lakes Advisors LLC

by · The Cerbat Gem

Great Lakes Advisors LLC grew its stake in shares of NextEra Energy, Inc. (NYSE:NEE – Free Report) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 686,887 shares of the utilities provider’s stock after acquiring an additional 5,355 shares during the period. Great Lakes Advisors LLC’s holdings in NextEra Energy were worth $48,389,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Tradition Wealth Management LLC grew its holdings in shares of NextEra Energy by 2.2% during the 1st quarter. Tradition Wealth Management LLC now owns 6,625 shares of the utilities provider’s stock valued at $470,000 after acquiring an additional 143 shares in the last quarter. Cim LLC boosted its holdings in NextEra Energy by 0.5% in the fourth quarter. Cim LLC now owns 33,434 shares of the utilities provider’s stock worth $2,397,000 after purchasing an additional 158 shares in the last quarter. Conning Inc. boosted its holdings in NextEra Energy by 1.1% in the first quarter. Conning Inc. now owns 14,089 shares of the utilities provider’s stock worth $999,000 after purchasing an additional 160 shares in the last quarter. Premier Path Wealth Partners LLC boosted its holdings in NextEra Energy by 0.7% in the first quarter. Premier Path Wealth Partners LLC now owns 22,445 shares of the utilities provider’s stock worth $1,591,000 after purchasing an additional 166 shares in the last quarter. Finally, Opal Wealth Advisors LLC boosted its holdings in NextEra Energy by 2.9% in the first quarter. Opal Wealth Advisors LLC now owns 6,020 shares of the utilities provider’s stock worth $427,000 after purchasing an additional 168 shares in the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Stock Down 0.0%

NextEra Energy stock opened at $70.85 on Monday. The firm has a market cap of $145.90 billion, a price-to-earnings ratio of 24.77, a P/E/G ratio of 2.44 and a beta of 0.65. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.54 and a quick ratio of 0.45. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.10. The firm has a fifty day moving average price of $73.27 and a two-hundred day moving average price of $71.07.

NextEra Energy (NYSE:NEE – Get Free Report) last released its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.52 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The business’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. As a group, analysts forecast that NextEra Energy, Inc. will post 3.68 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, September 15th. Shareholders of record on Thursday, August 28th will be given a dividend of $0.5665 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a yield of 3.2%. NextEra Energy’s payout ratio is currently 79.37%.

Insiders Place Their Bets

In related news, EVP Robert Coffey sold 7,500 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $71.84, for a total value of $538,800.00. Following the completion of the sale, the executive vice president owned 26,539 shares in the company, valued at approximately $1,906,561.76. This trade represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Treasurer James Michael May sold 2,177 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total transaction of $168,717.50. Following the completion of the sale, the treasurer owned 27,662 shares of the company’s stock, valued at approximately $2,143,805. The trade was a 7.30% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of NextEra Energy from $94.00 to $84.00 and set a “buy” rating for the company in a report on Friday, May 23rd. BMO Capital Markets upped their price objective on shares of NextEra Energy from $77.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Mizuho set a $78.00 price objective on shares of NextEra Energy in a report on Thursday, August 21st. Melius assumed coverage on shares of NextEra Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $77.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of NextEra Energy from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.00.

Get Our Latest Report on NextEra Energy

About NextEra Energy

(Free Report)

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.

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