1832 Asset Management L.P. Buys 182,642 Shares of NextEra Energy, Inc. $NEE

Key Points

• 1832 Asset Management L.P. increased its stake in NextEra Energy, Inc. by 3.6% in Q1, acquiring an additional 182,642 shares, bringing their total ownership to approximately $373.38 million.
• NextEra Energy reported $1.05 earnings per share for the quarter, exceeding expectations of $1.01, but recorded lower revenues of $6.70 billion compared to anticipated figures of $7.52 billion.
• The company declared a quarterly dividend of $0.5665 per share, with a dividend yield of 3.0%, and will be payable on September 15th to stockholders of record on August 28th.

1832 Asset Management L.P. boosted its position in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,267,030 shares of the utilities provider's stock after acquiring an additional 182,642 shares during the period. 1832 Asset Management L.P. owned approximately 0.26% of NextEra Energy worth $373,380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tradition Wealth Management LLC lifted its stake in shares of NextEra Energy by 2.2% in the 1st quarter. Tradition Wealth Management LLC now owns 6,625 shares of the utilities provider's stock valued at $470,000 after purchasing an additional 143 shares during the period. Cim LLC lifted its stake in shares of NextEra Energy by 0.5% in the 4th quarter. Cim LLC now owns 33,434 shares of the utilities provider's stock valued at $2,397,000 after purchasing an additional 158 shares during the period. Conning Inc. lifted its stake in shares of NextEra Energy by 1.1% in the 1st quarter. Conning Inc. now owns 14,089 shares of the utilities provider's stock valued at $999,000 after purchasing an additional 160 shares during the period. Premier Path Wealth Partners LLC lifted its stake in shares of NextEra Energy by 0.7% in the 1st quarter. Premier Path Wealth Partners LLC now owns 22,445 shares of the utilities provider's stock valued at $1,591,000 after purchasing an additional 166 shares during the period. Finally, Opal Wealth Advisors LLC lifted its stake in shares of NextEra Energy by 2.9% in the 1st quarter. Opal Wealth Advisors LLC now owns 6,020 shares of the utilities provider's stock valued at $427,000 after purchasing an additional 168 shares during the period. 78.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group cut their price target on NextEra Energy from $94.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Morgan Stanley lowered their price objective on shares of NextEra Energy from $95.00 to $94.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. BMO Capital Markets upped their price objective on shares of NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Barclays upped their price objective on shares of NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Finally, HSBC lowered their price objective on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, NextEra Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.23.

NextEra Energy Stock Up 0.2%

NEE stock traded up $0.1470 during trading hours on Friday, reaching $76.2270. 13,128,624 shares of the stock were exchanged, compared to its average volume of 9,069,239. The firm's 50-day moving average is $73.04 and its 200-day moving average is $70.81. The company has a market cap of $156.97 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 2.63 and a beta of 0.63. 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 12 month low of $61.72 and a 12 month high of $86.10.

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 (EPS) 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 analysts' expectations of $7.52 billion. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The company's revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. On average, equities research analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Announces Dividend

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 issued a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Thursday, August 28th. NextEra Energy's dividend payout ratio is 79.37%.

Insider Transactions at NextEra Energy

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

About NextEra Energy

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.