Kornitzer Capital Management Inc. KS acquired a new position in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,403 shares of the utilities provider's stock, valued at approximately $241,000.
Several other institutional investors have also modified their holdings of the stock. Bellwether Advisors LLC purchased a new stake in NextEra Energy in the 4th quarter valued at $30,000. WealthTrak Capital Management LLC purchased a new stake in NextEra Energy in the 4th quarter valued at $33,000. Copia Wealth Management purchased a new stake in NextEra Energy in the 4th quarter valued at $36,000. Hughes Financial Services LLC purchased a new stake in NextEra Energy in the 1st quarter valued at $40,000. Finally, Graney & King LLC purchased a new stake in NextEra Energy in the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 78.72% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. UBS Group cut their price objective on shares of NextEra Energy from $94.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Wells Fargo & Company cut their price objective on shares of NextEra Energy from $102.00 to $97.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. HSBC cut 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. Guggenheim restated a "buy" rating and set a $89.00 price objective on shares of NextEra Energy in a research report on Thursday, March 20th. 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 equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, NextEra Energy currently has an average rating of "Moderate Buy" and a consensus target price of $84.08.
Get Our Latest Report on NextEra Energy
Insider Buying and Selling at NextEra Energy
In other news, EVP Charles E. Sieving sold 23,684 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the transaction, the executive vice president directly owned 196,817 shares in the company, valued at $13,777,190. This represents a 10.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by insiders.
NextEra Energy Trading Up 1.0%
NYSE:NEE traded up $0.73 on Friday, reaching $75.91. The stock had a trading volume of 7,985,494 shares, compared to its average volume of 12,326,837. The company has a market cap of $156.27 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 2.63 and a beta of 0.67. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.55 and a quick ratio of 0.45. The firm's fifty day moving average is $71.98 and its two-hundred day moving average is $70.31. 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 announced its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share for the quarter, hitting the consensus estimate of $0.99. The business had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.58 billion. NextEra Energy had a net margin of 21.81% and a return on equity of 12.06%. The company's revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS. Equities analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.
NextEra Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.5665 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.27 annualized dividend and a dividend yield of 2.99%. NextEra Energy's payout ratio is currently 85.02%.
About NextEra Energy
(
Free Report)
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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