Allstate Corp Grows Stock Position in NextEra Energy, Inc. $NEE

Key Points

• Allstate Corp increased its stake in NextEra Energy by 24.0%, acquiring an additional 14,616 shares for a total holding valued at $5,357,000.
• NextEra Energy recently declared a quarterly dividend of $0.5665 per share, with an annualized yield of 3.0%, to be paid on September 15th.
• Despite a recent increase in stock holdings by institutional investors, NextEra Energy's stock is down 0.2% and has a market cap of $156.60 billion.

Allstate Corp raised its holdings in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 24.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,572 shares of the utilities provider's stock after acquiring an additional 14,616 shares during the quarter. Allstate Corp's holdings in NextEra Energy were worth $5,357,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in NEE. Bellwether Advisors LLC purchased a new stake in shares of NextEra Energy in the 4th quarter worth $30,000. IMA Advisory Services Inc. purchased a new stake in shares of NextEra Energy in the 1st quarter worth $35,000. Copia Wealth Management purchased a new stake in shares of NextEra Energy in the 4th quarter worth $36,000. CBIZ Investment Advisory Services LLC lifted 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 worth $37,000 after buying an additional 366 shares during the period. Finally, Hughes Financial Services LLC purchased a new stake in shares of NextEra Energy in the 1st quarter worth $40,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NextEra Energy

In other NextEra Energy news, EVP Robert Coffey sold 7,500 shares of NextEra Energy stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $71.84, for a total transaction of $538,800.00. Following the completion of the sale, the executive vice president owned 26,539 shares of the company's stock, valued at approximately $1,906,561.76. The trade was a 22.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Treasurer James Michael May sold 2,177 shares of NextEra Energy stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total value of $168,717.50. Following the sale, the treasurer directly owned 27,662 shares of the company's stock, valued at approximately $2,143,805. This represents a 7.30% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

NextEra Energy Stock Up 0.2%

NEE stock traded up $0.1470 on Friday, hitting $76.2270. 13,128,624 shares of the company's stock were exchanged, compared to its average volume of 9,069,239. NextEra Energy, Inc. has a 12-month low of $61.72 and a 12-month high of $86.10. The firm has a 50 day moving average price of $73.04 and a two-hundred day moving average price of $70.81. 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 stock has a market cap of $156.97 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 2.63 and a beta of 0.63.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share 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 firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same period in the previous year, the business earned $0.96 EPS. The firm's revenue for the quarter was up 10.4% on a year-over-year basis. As a group, 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 declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 28th will be given a dividend of $0.5665 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a yield of 3.0%. NextEra Energy's payout ratio is currently 79.37%.

Analysts Set New Price Targets

NEE has been the subject of several research reports. Morgan Stanley lowered their target price on 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 boosted their price target on NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Erste Group Bank lowered NextEra Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. HSBC reduced their price target on NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Finally, UBS Group reduced their price target 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. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $84.23.

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.