Allspring Global Investments Holdings LLC Has $171.20 Million Holdings in NextEra Energy, Inc. $NEE

Key Points

• Allspring Global Investments Holdings LLC increased its stake in NextEra Energy by 5.1% in Q2, holding 2,343,301 shares valued at approximately $171.20 million.
• Analysts have recently upgraded NextEra Energy's stock, with a price target increase from $86.00 to $87.00 by JPMorgan Chase, reflecting a positive outlook for the company.
• The company reported $1.05 EPS for the last quarter, surpassing the consensus estimate of $1.01, and announced a quarterly dividend of $0.5665 per share, yielding 2.7% annually.

Allspring Global Investments Holdings LLC grew its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,343,301 shares of the utilities provider's stock after buying an additional 114,296 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.11% of NextEra Energy worth $171,202,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NEE. Avity Investment Management Inc. grew its position in NextEra Energy by 1.7% in the second quarter. Avity Investment Management Inc. now owns 506,515 shares of the utilities provider's stock valued at $35,162,000 after purchasing an additional 8,565 shares in the last quarter. Integrity Alliance LLC. grew its position in NextEra Energy by 41.8% in the first quarter. Integrity Alliance LLC. now owns 25,092 shares of the utilities provider's stock valued at $1,779,000 after purchasing an additional 7,401 shares in the last quarter. Elyxium Wealth LLC bought a new position in NextEra Energy in the first quarter valued at $783,000. Czech National Bank grew its position in NextEra Energy by 6.5% in the second quarter. Czech National Bank now owns 503,202 shares of the utilities provider's stock valued at $34,932,000 after purchasing an additional 30,878 shares in the last quarter. Finally, Bowman & Co S.C. grew its position in NextEra Energy by 2.0% in the second quarter. Bowman & Co S.C. now owns 13,452 shares of the utilities provider's stock valued at $933,000 after purchasing an additional 263 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company's stock.

Analyst Upgrades and Downgrades

NEE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of NextEra Energy from $86.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Melius Research upgraded shares of NextEra Energy to a "strong-buy" rating in a research note on Wednesday, August 20th. Evercore ISI set a $92.00 price target on shares of NextEra Energy and gave the company an "outperform" rating in a research note on Monday, October 6th. Barclays increased their price target on shares of NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $95.00 price target (down previously from $96.00) on shares of NextEra Energy in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, NextEra Energy currently has an average rating of "Moderate Buy" and an average target price of $85.08.

NextEra Energy Price Performance

NYSE:NEE opened at $83.30 on Monday. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $86.00. The firm has a market cap of $171.54 billion, a price-to-earnings ratio of 29.13, a P/E/G ratio of 2.82 and a beta of 0.66. The firm's 50-day simple moving average is $74.20 and its 200 day simple moving average is $71.75. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54.

NextEra Energy (NYSE:NEE - Get Free Report) last released its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The firm had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period last year, the firm earned $0.96 EPS. The business's quarterly revenue was up 10.4% compared to the same quarter last year. As a group, sell-side analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 28th were given a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, August 28th. NextEra Energy's dividend payout ratio is currently 79.37%.

Insiders Place Their Bets

In related news, EVP Michael Dunne sold 10,000 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $70.79, for a total value of $707,900.00. Following the completion of the transaction, the executive vice president owned 62,064 shares of the company's stock, valued at $4,393,510.56. This represents a 13.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Lemasney sold 846 shares of the stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the transaction, the executive vice president directly owned 9,267 shares of the company's stock, valued at approximately $694,098.30. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,705 shares of company stock worth $2,446,490 over the last 90 days. Insiders own 0.18% of the company's stock.

NextEra Energy Company Profile

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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