Renaissance Investment Group LLC Purchases 7,248 Shares of NextEra Energy, Inc. (NYSE:NEE)

Key Points

• Renaissance Investment Group LLC increased its holdings in NextEra Energy by 7.5% during Q1, owning 103,913 shares valued at $7.37 million.
• NextEra Energy reported $1.05 EPS for the last quarter, exceeding analysts' expectations, while also announcing a quarterly dividend of $0.5665.
• HSBC and other analysts have revised their price targets for NextEra Energy, with a consensus rating of "Moderate Buy" and an average target price of $84.42.

Renaissance Investment Group LLC boosted its holdings in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 7.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 103,913 shares of the utilities provider's stock after buying an additional 7,248 shares during the period. Renaissance Investment Group LLC's holdings in NextEra Energy were worth $7,366,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Bellwether Advisors LLC purchased a new stake in NextEra Energy during the 4th quarter worth approximately $30,000. IMA Advisory Services Inc. bought a new stake in shares of NextEra Energy in the 1st quarter valued at approximately $35,000. Copia Wealth Management acquired a new position in NextEra Energy during the 4th quarter valued at approximately $36,000. CBIZ Investment Advisory Services LLC boosted its position in NextEra Energy by 237.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 366 shares during the period. Finally, Hughes Financial Services LLC acquired a new position in NextEra Energy during the 1st quarter valued at approximately $40,000. 78.72% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Price Performance

Shares of NextEra Energy stock traded down $0.41 during midday trading on Friday, hitting $70.65. 4,026,338 shares of the company were exchanged, compared to its average volume of 12,118,120. 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 firm has a market cap of $145.50 billion, a P/E ratio of 24.71, a PEG ratio of 2.44 and a beta of 0.67. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $86.10. The firm has a 50 day simple moving average of $72.21 and a 200-day simple moving average of $70.50.

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

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, August 28th will be paid a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, August 28th. NextEra Energy's dividend payout ratio (DPR) is 79.37%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on NextEra Energy from $86.00 to $82.00 in a report on Thursday, July 3rd. Wells Fargo & Company dropped their price target on NextEra Energy from $102.00 to $97.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. HSBC dropped their target price on NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Barclays upped their target price on NextEra Energy from $65.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Finally, BMO Capital Markets upped their target price on NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, NextEra Energy has an average rating of "Moderate Buy" and a consensus target price of $84.42.

Insider Activity

In other news, EVP Robert Coffey sold 7,500 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $71.84, for a total value of $538,800.00. Following the transaction, the executive vice president directly owned 26,539 shares in the company, valued at $1,906,561.76. This trade represents a 22.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles E. Sieving sold 23,684 shares of NextEra Energy stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $70.00, for a total value of $1,657,880.00. Following the transaction, the executive vice president owned 196,817 shares in the company, valued at approximately $13,777,190. This represents a 10.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,361 shares of company stock valued at $2,365,398. Company insiders own 0.20% of the company's stock.

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.