Ground Swell Capital LLC Takes Position in NextEra Energy, Inc. (NYSE:NEE)

by · The Markets Daily

Ground Swell Capital LLC purchased a new stake in NextEra Energy, Inc. (NYSE:NEE – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,598 shares of the utilities provider’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Intech Investment Management LLC raised its holdings in shares of NextEra Energy by 35.7% in the 1st quarter. Intech Investment Management LLC now owns 100,308 shares of the utilities provider’s stock valued at $6,411,000 after purchasing an additional 26,382 shares during the period. Border to Coast Pensions Partnership Ltd lifted its position in NextEra Energy by 2.2% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 1,216,077 shares of the utilities provider’s stock worth $102,495,000 after acquiring an additional 26,270 shares during the last quarter. Ancora Advisors LLC boosted its holdings in shares of NextEra Energy by 10.6% during the first quarter. Ancora Advisors LLC now owns 79,994 shares of the utilities provider’s stock worth $5,112,000 after acquiring an additional 7,677 shares during the period. Magnolia Capital Advisors LLC increased its stake in shares of NextEra Energy by 1,224.3% during the second quarter. Magnolia Capital Advisors LLC now owns 72,453 shares of the utilities provider’s stock worth $5,130,000 after purchasing an additional 66,982 shares during the period. Finally, Raymond James & Associates lifted its holdings in NextEra Energy by 57.0% during the 2nd quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock worth $421,831,000 after purchasing an additional 2,163,437 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Trading Down 2.4 %

Shares of NextEra Energy stock opened at $77.35 on Monday. The firm has a market capitalization of $159.06 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 2.86 and a beta of 0.57. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11. The firm’s 50 day moving average is $82.39 and its 200 day moving average is $76.87. NextEra Energy, Inc. has a 1 year low of $53.81 and a 1 year high of $86.10.

NextEra Energy (NYSE:NEE – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.05. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The company had revenue of $7.57 billion during the quarter, compared to the consensus estimate of $8.11 billion. During the same period in the prior year, the business earned $0.94 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts forecast that NextEra Energy, Inc. will post 3.41 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s dividend payout ratio is currently 60.95%.

Analysts Set New Price Targets

Several research analysts have weighed in on NEE shares. Dbs Bank cut NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Wells Fargo & Company lifted their price objective on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Guggenheim boosted their price objective on shares of NextEra Energy from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Bank of America lifted their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Jefferies Financial Group initiated coverage on NextEra Energy in a research note on Thursday, September 19th. They set a “hold” rating and a $87.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $86.54.

View Our Latest Research Report on NEE

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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