Magellan Asset Management Ltd Raises Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Key Points

• Magellan Asset Management Ltd increased its holdings in NextEra Energy, Inc. by 6.5%, acquiring an additional 24,122 shares, bringing its total to 396,589 shares valued at approximately $28.11 million.
• Several institutional investors, including Bellwether Advisors LLC and CBIZ Investment Advisory Services LLC, have recently made new investments in NextEra Energy, contributing to 78.72% of the company's stock being owned by institutional investors.
• NextEra Energy announced a quarterly dividend of $0.5665 per share, resulting in an annualized dividend of $2.27 and a dividend yield of 3.1%, with the ex-dividend date set for August 28th.

Magellan Asset Management Ltd boosted its holdings in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 396,589 shares of the utilities provider's stock after purchasing an additional 24,122 shares during the quarter. Magellan Asset Management Ltd's holdings in NextEra Energy were worth $28,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NEE. Bellwether Advisors LLC acquired a new stake in NextEra Energy in the 4th quarter valued at about $30,000. IMA Advisory Services Inc. acquired a new stake in NextEra Energy in the 1st quarter valued at about $35,000. Copia Wealth Management acquired a new stake in NextEra Energy in the 4th quarter valued at about $36,000. CBIZ Investment Advisory Services LLC grew its stake in 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 acquiring an additional 366 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in 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.

Insiders Place Their Bets

In related news, Treasurer James Michael May sold 2,177 shares of the company's stock in a transaction 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 completion of the transaction, the treasurer directly owned 27,662 shares in the company, valued at approximately $2,143,805. This represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert Coffey sold 7,500 shares of the company's stock in a transaction on Monday, July 28th. The shares were 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 of the company's stock, 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. Corporate insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NEE shares. BMO Capital Markets increased their price objective on shares of NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. UBS Group lowered their price objective on NextEra Energy from $94.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. JPMorgan Chase & Co. cut their price objective on shares of NextEra Energy from $86.00 to $82.00 in a report on Thursday, July 3rd. HSBC cut their price objective on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Friday, July 11th. 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 report on Wednesday, June 18th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, NextEra Energy currently has an average rating of "Moderate Buy" and an average price target of $84.42.

NextEra Energy Price Performance

Shares of NEE opened at $72.42 on Friday. The company has a market capitalization of $149.13 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 2.49 and a beta of 0.63. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.10. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.54 and a quick ratio of 0.45. The business's 50-day moving average is $72.56 and its 200-day moving average is $70.56.

NextEra Energy (NYSE:NEE - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 EPS 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 firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. The firm's revenue was up 10.4% on a year-over-year basis. Equities research analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 28th will be paid a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Thursday, August 28th. NextEra Energy's dividend payout ratio is presently 79.37%.

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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