NextEra Energy, Inc. $NEE Stock Purchased by M&G PLC

Key Points

• M&G PLC increased its NextEra Energy stake by 15.6% in the third quarter, adding 641,295 shares to bring its holding to about 4.75 million shares, valued at roughly $361 million.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $97.80; 17 rate the stock Buy or Strong Buy, while five rate it Hold.
• NextEra beat quarterly EPS expectations ($1.24 versus $1.20), though revenue fell short of forecasts. The company declared a quarterly dividend of $0.6232 per share, equivalent to a 2.9% yield.

M&G PLC grew its stake in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 15.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,748,056 shares of the utilities provider's stock after acquiring an additional 641,295 shares during the period. NextEra Energy accounts for 1.8% of M&G PLC's holdings, making the stock its 9th largest position. M&G PLC owned about 0.23% of NextEra Energy worth $360,852,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Legal & General Group Plc bought a new position in NextEra Energy during the 2nd quarter worth $1,465,987,000. GQG Partners LLC bought a new stake in NextEra Energy during the second quarter worth $651,293,000. Canada Pension Plan Investment Board bought a new position in NextEra Energy in the second quarter valued at about $389,527,000. Amundi lifted its stake in NextEra Energy by 46.5% in the 2nd quarter. Amundi now owns 13,329,077 shares of the utilities provider's stock valued at $1,169,839,000 after purchasing an additional 4,231,814 shares during the last quarter. Finally, Caisse de depot et placement du Quebec bought a new stake in shares of NextEra Energy during the second quarter worth about $288,886,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NEE. Bank of America decreased their price target on NextEra Energy from $95.00 to $93.00 and set a "neutral" rating for the company in a research note on Monday, July 13th. Morgan Stanley set a $110.00 price objective on shares of NextEra Energy and gave the company an "overweight" rating in a report on Wednesday, October 14th. Piper Sandler set a $88.00 price objective on shares of NextEra Energy in a research note on Tuesday, October 20th. Weiss Ratings raised shares of NextEra Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 22nd. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $108.00 price objective on shares of NextEra Energy in a report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $97.80.

NextEra Energy Stock Down 0.1%

NEE opened at $86.87 on Tuesday. The company has a market cap of $182.20 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.73 and a beta of 0.60. NextEra Energy, Inc. has a 12 month low of $74.41 and a 12 month high of $98.75. The company has a current ratio of 0.53, a quick ratio of 0.45 and a debt-to-equity ratio of 1.33. The business's 50-day moving average price is $80.61 and its 200-day moving average price is $87.28.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its earnings results on Wednesday, October 21st. The utilities provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. NextEra Energy had a net margin of 40.37% and a return on equity of 12.27%. The firm had revenue of $8.09 billion for the quarter, compared to analysts' expectations of $8.47 billion. During the same quarter last year, the business earned $1.13 earnings per share. The business's revenue was up 1.6% on a year-over-year basis. On average, equities analysts expect that NextEra Energy, Inc. will post 4.01 EPS for the current year.

NextEra Energy Dividend Announcement

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