Cinctive Capital Management LP Takes Position in NextEra Energy, Inc. (NYSE:NEE)

by · The Markets Daily

Cinctive Capital Management LP acquired a new stake in NextEra Energy, Inc. (NYSE:NEE – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,977 shares of the utilities provider’s stock, valued at approximately $787,000.

Other hedge funds also recently bought and sold shares of the company. Burkett Financial Services LLC grew its position 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 valued at $26,000 after purchasing an additional 332 shares in the last quarter. Sugar Maple Asset Management LLC purchased a new position in NextEra Energy during the fourth quarter worth about $28,000. Quarry LP purchased a new position in NextEra Energy during the third quarter worth about $33,000. WealthTrak Capital Management LLC purchased a new stake in shares of NextEra Energy in the 4th quarter valued at about $33,000. Finally, Luken Investment Analytics LLC purchased a new stake in shares of NextEra Energy in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on NEE shares. JPMorgan Chase & Co. upped their price objective on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Morgan Stanley increased their price target on shares of NextEra Energy from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Jefferies Financial Group dropped their price objective on shares of NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. Evercore ISI reduced their target price on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a research note on Monday, January 27th. Finally, Guggenheim reaffirmed a “buy” rating and set a $89.00 price target on shares of NextEra Energy in a research note on Thursday, March 20th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, NextEra Energy has a consensus rating of “Hold” and a consensus target price of $85.92.

View Our Latest Research Report on NextEra Energy

NextEra Energy Trading Up 2.3 %

NYSE:NEE opened at $72.08 on Friday. The firm has a market capitalization of $148.27 billion, a P/E ratio of 21.39, a P/E/G ratio of 2.45 and a beta of 0.58. NextEra Energy, Inc. has a 52 week low of $61.31 and a 52 week high of $86.10. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20. The company has a fifty day moving average of $70.77 and a 200 day moving average of $74.85.

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

NextEra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. NextEra Energy’s dividend payout ratio is currently 67.06%.

Insider Buying and Selling

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total value of $162,258.47. Following the completion of the sale, the chief accounting officer now directly owns 27,427 shares in the company, valued at $1,867,504.43. This trade represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by insiders.

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.

See Also

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