Cramer Rosenthal Mcglynn LLC Acquires 38,516 Shares of NextEra Energy, Inc. $NEE

Key Points

• Cramer Rosenthal Mcglynn LLC increased its stake in NextEra Energy by 68.3%, owning 94,929 shares valued at approximately $6.73 million after purchasing an additional 38,516 shares.
• The company reported $1.05 earnings per share for the last quarter, exceeding the consensus estimate, with a year-over-year revenue growth of 10.4%.
• NextEra Energy declared a quarterly dividend of $0.5665, set to be paid on September 15, reflecting a 3.0% yield and a payout ratio of 79.37%.

Cramer Rosenthal Mcglynn LLC lifted its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 68.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 94,929 shares of the utilities provider's stock after purchasing an additional 38,516 shares during the quarter. Cramer Rosenthal Mcglynn LLC's holdings in NextEra Energy were worth $6,730,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NEE. Brighton Jones LLC grew its holdings in shares of NextEra Energy by 7.0% during the fourth quarter. Brighton Jones LLC now owns 28,282 shares of the utilities provider's stock worth $2,028,000 after purchasing an additional 1,840 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in NextEra Energy by 6.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,854 shares of the utilities provider's stock valued at $348,000 after purchasing an additional 298 shares during the last quarter. Capital Analysts LLC grew its stake in NextEra Energy by 0.9% in the 4th quarter. Capital Analysts LLC now owns 42,139 shares of the utilities provider's stock worth $3,021,000 after buying an additional 390 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management increased its holdings in shares of NextEra Energy by 2.9% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 36,253 shares of the utilities provider's stock worth $2,599,000 after buying an additional 1,019 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of NextEra Energy by 295.9% in the 4th quarter. Quarry LP now owns 1,556 shares of the utilities provider's stock worth $112,000 after buying an additional 1,163 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Melius Research raised shares of NextEra Energy to a "strong-buy" rating in a report on Wednesday, August 20th. Melius initiated coverage on shares of NextEra Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $77.00 price target on the stock. BMO Capital Markets upped their price objective on NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. JPMorgan Chase & Co. upped their price objective on NextEra Energy from $86.00 to $87.00 and gave the stock an "overweight" rating in a report on Friday, August 22nd. Finally, HSBC cut their price objective on NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, NextEra Energy currently has an average rating of "Moderate Buy" and a consensus target price of $83.79.

NextEra Energy Trading Down 2.4%

NEE stock traded down $1.79 during trading on Thursday, hitting $72.10. 10,916,523 shares of the company traded hands, compared to its average volume of 9,115,926. The firm has a market capitalization of $148.48 billion, a PE ratio of 25.21, a P/E/G ratio of 2.54 and a beta of 0.63. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54. The company has a 50-day moving average of $73.18 and a 200-day moving average of $70.91. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $86.10.

NextEra Energy (NYSE:NEE - Get Free Report) last posted its 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 return on equity of 12.31% and a net margin of 22.84%.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 firm earned $0.96 earnings per share. NextEra Energy's quarterly revenue was up 10.4% on a year-over-year basis. Analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 28th will be issued a dividend of $0.5665 per share. 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 currently 79.37%.

Insiders Place Their Bets

In related news, EVP Robert Coffey sold 7,500 shares of NextEra Energy 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 sale, the executive vice president 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Treasurer James Michael May sold 2,177 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total transaction of $168,717.50. Following the transaction, the treasurer directly owned 27,662 shares in the company, valued at approximately $2,143,805. The trade was a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

About NextEra Energy

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.