NorthCrest Asset Manangement LLC Raises Holdings in NextEra Energy, Inc. (NYSE:NEE)

by · The Cerbat Gem

NorthCrest Asset Manangement LLC lifted its holdings in NextEra Energy, Inc. (NYSE:NEE – Free Report) by 172.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,333 shares of the utilities provider’s stock after buying an additional 26,139 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in NextEra Energy were worth $3,494,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc grew its stake in shares of NextEra Energy by 0.7% during the 2nd quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock worth $1,508,155,000 after purchasing an additional 143,748 shares during the period. Massachusetts Financial Services Co. MA grew its position in NextEra Energy by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,178,185 shares of the utilities provider’s stock worth $579,097,000 after buying an additional 691,341 shares during the period. Nordea Investment Management AB increased its holdings in NextEra Energy by 22.3% in the first quarter. Nordea Investment Management AB now owns 6,961,556 shares of the utilities provider’s stock valued at $443,834,000 after buying an additional 1,268,900 shares in the last quarter. Raymond James & Associates lifted its position in shares of NextEra Energy by 14.3% during the 3rd quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock valued at $575,573,000 after acquiring an additional 851,873 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of NextEra Energy by 7.2% during the 2nd quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider’s stock worth $431,966,000 after acquiring an additional 409,708 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Trading Down 1.7 %

Shares of NEE opened at $81.43 on Friday. NextEra Energy, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $86.10. The company has a market capitalization of $167.37 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 3.03 and a beta of 0.56. The stock has a fifty day moving average of $82.36 and a two-hundred day moving average of $76.20. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.41 and a current ratio of 0.49.

NextEra Energy (NYSE:NEE – Get Free Report) last released its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. The firm had revenue of $7.57 billion during the quarter, compared to analyst estimates of $8.11 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, analysts forecast that NextEra Energy, Inc. will post 3.4 EPS for the current year.

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be given a $0.515 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.06 annualized dividend and a dividend yield of 2.53%. NextEra Energy’s dividend payout ratio is presently 66.88%.

Wall Street Analysts Forecast Growth

NEE has been the subject of several research analyst reports. Scotiabank lifted their price objective on NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Barclays lifted their price target on NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday. Jefferies Financial Group started coverage on shares of NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 price objective on the stock. Royal Bank of Canada cut shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley upped their price target on shares of NextEra Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, NextEra Energy presently has an average rating of “Hold” and an average target price of $86.54.

Get Our Latest Stock Report on NextEra Energy

Insider Activity at NextEra Energy

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.97, for a total transaction of $50,646.26. Following the transaction, the executive vice president now owns 100 shares of the company’s stock, valued at $7,697. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is 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.

Further Reading

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