LGT Fund Management Co Ltd. Grows Position in NextEra Energy, Inc. $NEE

Key Points

• LGT Fund Management Co Ltd. increased its stake in NextEra Energy by 23.1%, acquiring an additional 7,767 shares during the 2nd quarter, bringing its total holdings to 41,445 shares worth approximately $2.88 million.
• NextEra Energy reported an EPS of $1.05 for the quarter, exceeding analysts' expectations, although its revenue of $6.70 billion fell short of the forecast of $7.52 billion.
• The company has a current market capitalization of $164.98 billion and recently paid a quarterly dividend of $0.5665 per share, representing an annual yield of 2.8%.

LGT Fund Management Co Ltd. boosted its stake in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 23.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,445 shares of the utilities provider's stock after purchasing an additional 7,767 shares during the period. LGT Fund Management Co Ltd.'s holdings in NextEra Energy were worth $2,877,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in NextEra Energy by 1.0% during the first quarter. Vanguard Group Inc. now owns 207,322,418 shares of the utilities provider's stock valued at $14,697,086,000 after purchasing an additional 2,025,193 shares in the last quarter. Northern Trust Corp lifted its position in NextEra Energy by 1.1% during the first quarter. Northern Trust Corp now owns 23,353,245 shares of the utilities provider's stock valued at $1,655,512,000 after purchasing an additional 262,819 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of NextEra Energy by 6.7% in the first quarter. Goldman Sachs Group Inc. now owns 21,269,146 shares of the utilities provider's stock valued at $1,507,770,000 after acquiring an additional 1,336,259 shares in the last quarter. GQG Partners LLC lifted its position in shares of NextEra Energy by 58.4% in the first quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider's stock valued at $1,221,896,000 after acquiring an additional 6,352,798 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of NextEra Energy by 20.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider's stock valued at $1,165,748,000 after acquiring an additional 2,815,629 shares in the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Price Performance

NYSE:NEE opened at $80.12 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $164.98 billion, a P/E ratio of 28.01, a P/E/G ratio of 2.69 and a beta of 0.66. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.00. The business's 50-day moving average is $72.99 and its 200 day moving average is $71.28.

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

NextEra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 28th were paid a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 28th. NextEra Energy's payout ratio is presently 79.37%.

Insider Buying and Selling

In other NextEra Energy news, Treasurer James Michael May sold 2,177 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total transaction of $168,717.50. Following the sale, the treasurer directly owned 27,662 shares of the company's stock, valued at $2,143,805. The trade was a 7.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert Coffey sold 7,500 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $71.84, for a total value of $538,800.00. Following the sale, the executive vice president directly owned 26,539 shares in the company, valued at $1,906,561.76. The trade was a 22.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,369 shares of company stock valued at $1,539,610. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NEE shares. JPMorgan Chase & Co. boosted their price objective on NextEra Energy from $86.00 to $87.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Mizuho set a $78.00 price objective on NextEra Energy in a research report on Thursday, August 21st. HSBC lowered their price objective on NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Weiss Ratings restated a "hold (c)" rating on shares of NextEra Energy in a research report on Saturday, September 27th. Finally, Morgan Stanley restated an "overweight" rating and issued a $95.00 price objective (down from $96.00) on shares of NextEra Energy in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, NextEra Energy presently has an average rating of "Moderate Buy" and a consensus price target of $84.08.

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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