DnB Asset Management AS Raises Holdings in NextEra Energy, Inc. $NEE

Key Points

• DnB Asset Management AS increased its holdings in NextEra Energy, Inc. by 9.3%, acquiring an additional 120,027 shares, bringing their total to approximately 1.41 million shares valued at $99.9 million.
• A number of institutional investors, including Somerset Trust Co and Viking Fund Management LLC, have also modified their positions in NextEra Energy, resulting in a combined ownership of 78.72% of the stock by institutional investors.
• NextEra Energy recently announced a dividend of $0.5665 per share to be paid on September 15th, representing an annualized rate of $2.27 and a dividend yield of 3.2%.

DnB Asset Management AS raised its holdings in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,409,395 shares of the utilities provider's stock after acquiring an additional 120,027 shares during the quarter. DnB Asset Management AS owned approximately 0.07% of NextEra Energy worth $99,912,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in NEE. 1 North Wealth Services LLC acquired a new position in shares of NextEra Energy during the 1st quarter worth about $26,000. IMA Advisory Services Inc. acquired a new position in shares of NextEra Energy during the 1st quarter worth about $35,000. Copia Wealth Management acquired a new position in shares of NextEra Energy during the 4th quarter worth about $36,000. CBIZ Investment Advisory Services LLC boosted its position in shares of NextEra Energy by 237.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider's stock worth $37,000 after acquiring an additional 366 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new stake in shares of NextEra Energy in the 1st quarter valued at about $40,000. 78.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NEE has been the subject of several research reports. JPMorgan Chase & Co. boosted their target price on NextEra Energy from $86.00 to $87.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Barclays boosted their target price on NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Mizuho set a $78.00 target price on NextEra Energy in a report on Thursday, August 21st. Melius initiated coverage on NextEra Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $77.00 target price for the company. Finally, Melius Research raised NextEra Energy to a "strong-buy" rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $84.00.

Insider Buying and Selling

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

NextEra Energy Stock Performance

NextEra Energy stock traded down $1.09 during mid-day trading on Monday, reaching $69.81. 12,593,005 shares of the company were exchanged, compared to its average volume of 11,781,246. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month high of $86.10. The firm's 50-day simple moving average is $73.27 and its two-hundred day simple moving average is $71.07. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54. The firm has a market cap of $143.75 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.44 and a beta of 0.65.

NextEra Energy (NYSE:NEE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The company had revenue of $6.70 billion during the quarter, compared to analysts' expectations of $7.52 billion. During the same period last year, the firm earned $0.96 EPS. The firm's revenue for the quarter was up 10.4% on a year-over-year basis. Equities analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, August 28th will be paid a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, August 28th. NextEra Energy's dividend payout ratio is 79.37%.

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.