Los Angeles Capital Management LLC increased its stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 668.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 247,921 shares of the utilities provider's stock after purchasing an additional 215,665 shares during the quarter. Los Angeles Capital Management LLC's holdings in NextEra Energy were worth $17,575,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Bellwether Advisors LLC purchased a new position in shares of NextEra Energy in the 4th quarter valued at about $30,000. WealthTrak Capital Management LLC purchased a new position in shares of NextEra Energy in the 4th quarter valued at about $33,000. Copia Wealth Management purchased a new position in shares of NextEra Energy in the 4th quarter valued at about $36,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of NextEra Energy by 237.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 366 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new position in shares of NextEra Energy in the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 78.72% of the company's stock.
NextEra Energy Trading Down 1.3%
Shares of NextEra Energy stock traded down $0.94 during mid-day trading on Thursday, hitting $71.88. 4,716,149 shares of the stock were exchanged, compared to its average volume of 12,281,870. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month high of $86.10. The stock has a market capitalization of $147.98 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 2.73 and a beta of 0.67. The company has a 50-day simple moving average of $72.35 and a 200 day simple moving average of $70.42. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.32.
NextEra Energy (NYSE:NEE - Get Free Report) last released its quarterly earnings results 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. NextEra Energy had a net margin of 21.81% and a return on equity of 12.06%. The company had revenue of $6.70 billion for the quarter, compared to analysts' expectations of $7.52 billion. During the same period last year, the company earned $0.96 EPS. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. Research analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current year.
NextEra Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 28th will be given a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 3.15%. NextEra Energy's dividend payout ratio is presently 84.64%.
Insider Activity at NextEra Energy
In related news, EVP Charles E. Sieving sold 23,684 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president directly owned 196,817 shares of the company's stock, valued at approximately $13,777,190. This trade represents a 10.74% decrease in their ownership of the stock. The transaction 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 the firm'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 completion of the sale, the treasurer directly owned 27,662 shares in the company, valued at $2,143,805. This represents a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on NEE shares. HSBC cut their price target on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a report on Friday, July 11th. Barclays raised their target price on shares of NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Morgan Stanley dropped their target price on shares of NextEra Energy from $95.00 to $94.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. BMO Capital Markets raised their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a report on Monday. Finally, UBS Group dropped their target price on shares of NextEra Energy from $94.00 to $84.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Seven 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 has a consensus rating of "Moderate Buy" and a consensus price target of $84.42.
View Our Latest Stock Analysis on NEE
NextEra Energy Profile
(
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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