Covea Finance Grows Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Covea Finance increased its holdings in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 65.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,675 shares of the utilities provider's stock after buying an additional 70,000 shares during the period. Covea Finance's holdings in NextEra Energy were worth $12,524,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bellwether Advisors LLC purchased a new position in NextEra Energy in the 4th quarter valued at about $30,000. WealthTrak Capital Management LLC purchased a new position in NextEra Energy in the 4th quarter valued at about $33,000. Copia Wealth Management purchased a new position in NextEra Energy in the 4th quarter valued at about $36,000. Midwest Capital Advisors LLC purchased a new position in NextEra Energy in the 4th quarter valued at about $44,000. Finally, Promus Capital LLC purchased a new position in NextEra Energy in the 4th quarter valued at about $45,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of NextEra Energy from $90.00 to $91.00 and gave the company an "overweight" rating in a report on Tuesday, March 11th. Guggenheim reiterated a "buy" rating and set a $89.00 price objective on shares of NextEra Energy in a report on Thursday, March 20th. UBS Group cut their price objective on shares of NextEra Energy from $94.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. Barclays dropped their target price on shares of NextEra Energy from $73.00 to $65.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 29th. Finally, Erste Group Bank downgraded shares of NextEra Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $84.50.

NextEra Energy Stock Up 0.1%

NEE stock opened at $71.61 on Friday. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month high of $86.10. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $147.41 billion, a P/E ratio of 26.82, a PEG ratio of 2.52 and a beta of 0.68. The firm has a 50 day simple moving average of $69.57 and a 200-day simple moving average of $70.32.

NextEra Energy (NYSE:NEE - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share for the quarter, hitting analysts' consensus estimates of $0.99. NextEra Energy had a net margin of 21.81% and a return on equity of 12.06%. The business had revenue of $6.25 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter last year, the company earned $0.91 earnings per share. The business's quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend was Monday, June 2nd. NextEra Energy's dividend payout ratio is presently 84.64%.

Insiders Place Their Bets

In other NextEra Energy news, EVP Charles E. Sieving sold 23,684 shares of NextEra Energy stock in a transaction on Friday, May 9th. The shares were sold at an average price of $70.00, for a total value of $1,657,880.00. Following the completion of the transaction, the executive vice president now owns 196,817 shares of the company's stock, valued at $13,777,190. The trade was a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

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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