Eastern Bank Has $77.57 Million Stake in NextEra Energy, Inc. (NYSE:NEE)

by · The Markets Daily

Eastern Bank raised its position in shares of NextEra Energy, Inc. (NYSE:NEE – Free Report) by 244.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 917,658 shares of the utilities provider’s stock after acquiring an additional 651,402 shares during the quarter. NextEra Energy comprises 1.4% of Eastern Bank’s investment portfolio, making the stock its 17th biggest holding. Eastern Bank’s holdings in NextEra Energy were worth $77,570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NEE. Xcel Wealth Management LLC lifted its holdings in shares of NextEra Energy by 2.3% during the 3rd quarter. Xcel Wealth Management LLC now owns 60,220 shares of the utilities provider’s stock worth $5,090,000 after acquiring an additional 1,346 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in NextEra Energy by 5.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 327,200 shares of the utilities provider’s stock valued at $27,658,000 after purchasing an additional 16,186 shares during the period. Calton & Associates Inc. purchased a new stake in NextEra Energy during the 3rd quarter worth approximately $399,000. Oakworth Capital Inc. lifted its stake in shares of NextEra Energy by 6.0% in the 3rd quarter. Oakworth Capital Inc. now owns 22,957 shares of the utilities provider’s stock valued at $1,941,000 after purchasing an additional 1,304 shares during the period. Finally, Foundations Investment Advisors LLC grew its holdings in shares of NextEra Energy by 1.9% during the third quarter. Foundations Investment Advisors LLC now owns 7,317 shares of the utilities provider’s stock worth $619,000 after buying an additional 138 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Price Performance

Shares of NYSE NEE traded down $0.07 during mid-day trading on Tuesday, hitting $83.96. 3,177,079 shares of the company’s stock traded hands, compared to its average volume of 10,733,051. The company has a market capitalization of $172.50 billion, a P/E ratio of 22.74, a PEG ratio of 2.92 and a beta of 0.56. NextEra Energy, Inc. has a 1 year low of $50.95 and a 1 year high of $86.10. The company’s 50-day moving average is $81.94 and its two-hundred day moving average is $75.76. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.49 and a quick ratio of 0.41.

NextEra Energy (NYSE:NEE – Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. The business had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the business posted $0.88 EPS. On average, equities analysts anticipate that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s payout ratio is 56.13%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NEE shares. Morgan Stanley increased their price target on shares of NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Dbs Bank lowered NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Barclays raised their target price on shares of NextEra Energy from $76.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Scotiabank boosted their target price on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, Citigroup upped their price objective on shares of NextEra Energy from $69.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $85.46.

Read Our Latest Stock Analysis on NEE

Insiders Place Their Bets

In related news, EVP Nicole J. Daggs sold 658 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.97, for a total value of $50,646.26. Following the sale, the executive vice president now owns 100 shares in the company, valued at approximately $7,697. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

NextEra Energy Company Profile

(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