NextEra Energy, Inc. $NEE Shares Acquired by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services increased its NextEra Energy stake by 7.2% in the third quarter, adding 32,357 shares to hold 483,649 shares valued at about $36.6 million. Hedge funds and other institutions collectively own 78.72% of the stock.
• NextEra’s latest quarterly earnings beat estimates at $1.24 per share versus $1.20 expected, but revenue of $8.09 billion fell short of consensus. The shares recently traded at $86.92, down 1.5% on the day.
• Analysts give NextEra a consensus “Moderate Buy” rating and an average price target of $97.80, while the proposed Dominion acquisition faces regulatory uncertainty and opposition from Virginia advocates.

Kestra Advisory Services LLC increased its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 7.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 483,649 shares of the utilities provider's stock after acquiring an additional 32,357 shares during the period. Kestra Advisory Services LLC's holdings in NextEra Energy were worth $36,632,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Czech National Bank lifted its stake in NextEra Energy by 4.7% in the 2nd quarter. Czech National Bank now owns 593,568 shares of the utilities provider's stock valued at $52,097,000 after buying an additional 26,378 shares in the last quarter. Annex Advisory Services LLC grew its holdings in NextEra Energy by 13.9% during the 2nd quarter. Annex Advisory Services LLC now owns 711,009 shares of the utilities provider's stock valued at $62,405,000 after buying an additional 86,585 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in NextEra Energy by 4.1% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 544,574 shares of the utilities provider's stock worth $47,797,000 after buying an additional 21,569 shares in the last quarter. CV Advisors LLC purchased a new position in NextEra Energy during the second quarter worth $1,404,000. Finally, Avity Investment Management Inc. increased its position in NextEra Energy by 5.7% during the second quarter. Avity Investment Management Inc. now owns 500,576 shares of the utilities provider's stock worth $43,936,000 after buying an additional 26,848 shares in the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

Key NextEra Energy News

Here are the key news stories impacting NextEra Energy this week:

• Positive Sentiment: Clean-energy stocks rallied after Democrats won control of Congress, and the article says NextEra captured the rally. Its battery development and ability to supply power to data centers may help it benefit from rising electricity demand. NextEra Energy Vs. AES Corporation: Utility Scale Energy Production Just Got a Major Blue Boost
• Positive Sentiment: A Virginia Chamber of Commerce-commissioned study says the proposed Dominion merger could bring thousands of jobs to Virginia, adding an economic-benefit argument in support of the deal. Virginia Chamber of Commerce promotes study touting Dominion merger benefits
• Neutral Sentiment: NextEra said senior management will participate in the EEI Financial Conference Nov. 8–10. The announcement does not identify new financial guidance or a specific business update. NextEra Energy to participate in EEI Financial Conference
• Neutral Sentiment: Another report describes the Virginia merger review as advancing with safeguards, but the available headline does not detail the terms or indicate whether approval is assured. NextEra Energy stock gains safeguards as Virginia merger review advances
• Negative Sentiment: Faith leaders and community advocates urged Virginia regulators to reject NextEra’s proposed $67 billion acquisition of Dominion, highlighting opposition and continued regulatory risk around the transaction. Faith Leaders Urge SCC to Reject Dominion-NextEra Merger

Analysts Set New Price Targets

A number of research firms have recently weighed in on NEE. Jefferies Financial Group reissued a "hold" rating on shares of NextEra Energy in a report on Thursday, October 8th. HSBC set a $103.00 price objective on NextEra Energy in a research note on Thursday, October 22nd. Piper Sandler set a $88.00 price objective on NextEra Energy in a research report on Tuesday, October 20th. Sanford C. Bernstein reiterated an "outperform" rating and set a $108.00 price objective on shares of NextEra Energy in a research report on Wednesday, October 21st. Finally, Wall Street Zen raised shares of NextEra Energy from a "strong sell" rating to a "sell" rating in a research note on Saturday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $97.80.

NextEra Energy Trading Down 1.5%

Shares of NYSE:NEE traded down $1.33 during midday trading on Friday, reaching $86.92. The company's stock had a trading volume of 11,876,626 shares, compared to its average volume of 11,813,902. The firm has a market cap of $182.30 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 2.63 and a beta of 0.60. The business has a 50 day moving average price of $80.50 and a 200 day moving average price of $87.27. NextEra Energy, Inc. has a 1 year low of $74.41 and a 1 year high of $98.75. The company has a quick ratio of 0.45, a current ratio of 0.53 and a debt-to-equity ratio of 1.33.

NextEra Energy (NYSE:NEE - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The utilities provider reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. NextEra Energy had a net margin of 40.37% and a return on equity of 12.27%. The company had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter in the prior year, the company posted $1.13 EPS. The company's quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts forecast that NextEra Energy, Inc. will post 4.01 EPS for the current year.

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 27th will be given a dividend of $0.6232 per share. This represents a $2.49 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 27th. NextEra Energy's payout ratio is 44.86%.

NextEra Energy Profile

NextEra Energy, Inc is an energy company whose businesses include Florida Power & Light Company (FPL), a regulated electric utility, and NextEra Energy Resources, a developer and operator of energy infrastructure. FPL generates, transmits and distributes electricity to customers across Florida.

NextEra Energy Resources develops and operates projects in North America, including wind and solar generation, battery storage, and natural gas and nuclear facilities. The company also invests in transmission infrastructure and provides energy-related services.

The company traces its roots to 1925, when Florida Power & Light was established.

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