Laffer Tengler Investments Inc. Purchases 5,928 Shares of NextEra Energy, Inc. $NEE

Key Points

• Laffer Tengler Investments Inc. increased its stake in NextEra Energy, Inc. by 9.6%, acquiring an additional 5,928 shares during the first quarter, bringing the total holdings to 67,500 shares valued at approximately $4.785 million.
• Several analysts have recently adjusted their price targets for NextEra Energy, with the consensus target price standing at $83.85 and a general rating of "Moderate Buy".
• NextEra Energy announced a quarterly dividend of $0.5665 per share, representing a yield of 3.0%, to be paid on September 15th to stockholders of record as of August 28th.

Laffer Tengler Investments Inc. boosted its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,500 shares of the utilities provider's stock after acquiring an additional 5,928 shares during the period. Laffer Tengler Investments Inc.'s holdings in NextEra Energy were worth $4,785,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bellwether Advisors LLC bought a new position in shares of NextEra Energy in the 4th quarter valued at about $30,000. IMA Advisory Services Inc. acquired a new position in NextEra Energy in the first quarter valued at approximately $35,000. Copia Wealth Management bought a new position in NextEra Energy in the fourth quarter valued at approximately $36,000. CBIZ Investment Advisory Services LLC boosted its stake in NextEra Energy by 237.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 366 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in NextEra Energy during the 1st quarter worth $40,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. UBS Group reduced their price target on NextEra Energy from $94.00 to $84.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. HSBC cut their target price on NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. BMO Capital Markets boosted their target price on NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. lowered their price target on NextEra Energy from $86.00 to $82.00 in a research note on Thursday, July 3rd. Finally, Morgan Stanley cut their price target on shares of NextEra Energy from $95.00 to $94.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $83.85.

Insiders Place Their Bets

In other news, EVP Robert Coffey sold 7,500 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $71.84, for a total value of $538,800.00. Following the completion of the transaction, the executive vice president owned 26,539 shares in the company, valued at $1,906,561.76. This trade represents a 22.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Treasurer James Michael May sold 2,177 shares of NextEra Energy stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total value of $168,717.50. Following the completion of the sale, the treasurer directly owned 27,662 shares in the company, valued at approximately $2,143,805. This represents a 7.30% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

NextEra Energy Stock Performance

Shares of NEE stock opened at $76.0450 on Friday. 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, Inc. has a 52 week low of $61.72 and a 52 week high of $86.10. The company's 50 day moving average price is $73.01 and its two-hundred day moving average price is $70.75. The company has a market capitalization of $156.60 billion, a P/E ratio of 26.59, a price-to-earnings-growth ratio of 2.62 and a beta of 0.63.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.04. The company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The firm's revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 earnings per share. On average, analysts expect 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 will be paid on Monday, September 15th. Stockholders of record on Thursday, August 28th will be issued a $0.5665 dividend. The ex-dividend date is Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.0%. NextEra Energy's dividend payout ratio (DPR) is 79.37%.

NextEra Energy 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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