189,430 Shares in NextEra Energy, Inc. $NEE Acquired by Associated Banc Corp

Key Points

• Associated Banc Corp acquired 189,430 NextEra Energy shares in the third quarter, valued at approximately $14.35 million. Institutional investors collectively own 78.72% of the company.
• NextEra reported quarterly earnings of $1.24 per share, beating estimates of $1.20, while revenue of $8.09 billion fell short of forecasts. Revenue was up 1.6% year over year.
• NextEra declared a quarterly dividend of $0.6232 per share, equivalent to an annualized yield of about 3%. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $97.80.

Associated Banc Corp purchased a new stake in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 189,430 shares of the utilities provider's stock, valued at approximately $14,347,000.

Other institutional investors have also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. acquired a new position in NextEra Energy during the 2nd quarter worth about $26,000. Kilter Group LLC bought a new stake in NextEra Energy during the 2nd quarter worth about $25,000. Manning & Napier Advisors LLC acquired a new stake in NextEra Energy in the 2nd quarter valued at about $26,000. Axiom Investment Management LLC acquired a new stake in NextEra Energy in the 1st quarter valued at about $32,000. Finally, Financial Network Wealth Advisors LLC raised its stake in shares of NextEra Energy by 83.0% in the second quarter. Financial Network Wealth Advisors LLC now owns 344 shares of the utilities provider's stock worth $30,000 after acquiring an additional 156 shares during the last quarter. Institutional investors own 78.72% of the company's stock.

NextEra Energy Stock Down 1.0%

Shares of NYSE:NEE opened at $84.17 on Wednesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.53 and a quick ratio of 0.45. The stock has a market cap of $176.54 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 2.63 and a beta of 0.60. The company has a 50 day moving average of $80.27 and a 200-day moving average of $87.20. NextEra Energy, Inc. has a one year low of $74.41 and a one year high of $98.75.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The utilities provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. NextEra Energy had a net margin of 40.37% and a return on equity of 12.27%. The business had revenue of $8.09 billion for the quarter, compared to analyst estimates of $8.47 billion. During the same period in the prior year, the business posted $1.13 earnings per share. NextEra Energy's revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts forecast that NextEra Energy, Inc. will post 4.01 earnings per share for the current year.

NextEra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 27th will be paid a $0.6232 dividend. The ex-dividend date of this dividend is Friday, November 27th. This represents a $2.49 dividend on an annualized basis and a dividend yield of 3.0%. NextEra Energy's dividend payout ratio is 44.86%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. HSBC set a $103.00 target price on shares of NextEra Energy in a research report on Thursday, October 22nd. Mizuho lowered their price target on shares of NextEra Energy from $95.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, October 6th. Morgan Stanley set a $110.00 price objective on shares of NextEra Energy and gave the stock an "overweight" rating in a research report on Wednesday, October 14th. Sanford C. Bernstein restated an "outperform" rating and issued a $108.00 price objective on shares of NextEra Energy in a research report on Wednesday, October 21st. Finally, HC Wainwright reaffirmed a "buy" rating on shares of NextEra Energy in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, NextEra Energy currently has a consensus rating of "Moderate Buy" and an average price target of $97.80.

NextEra Energy Profile

NextEra Energy, Inc is an energy infrastructure company headquartered in Juno Beach, Florida. Through its businesses, the company generates, transmits, distributes and sells electricity, with a focus on regulated utility operations and clean energy development.

Florida Power & Light Company, NextEra Energy's principal regulated utility, serves customers across much of Florida. FPL operates electric generation, transmission and distribution infrastructure and provides retail electricity service to residential, commercial and industrial customers.

NextEra Energy Resources develops, owns and operates renewable energy and energy storage projects, including wind and solar facilities.

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