S Bank Fund Management Ltd Makes New $7.39 Million Investment in NextEra Energy, Inc. (NYSE:NEE)

Key Points

• S Bank Fund Management Ltd acquired 104,282 shares of NextEra Energy, valued at approximately $7.39 million, making it the company's 19th largest holding.
• NextEra Energy recently declared a quarterly dividend of $0.5665 per share, representing an annualized dividend yield of 3.2%.
• Several analysts have adjusted their price targets for NextEra Energy, with Wells Fargo lowering it from $102.00 to $97.00, while UBS reduced theirs from $94.00 to $84.00, indicating mixed outlooks from the market.

S Bank Fund Management Ltd purchased a new stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 104,282 shares of the utilities provider's stock, valued at approximately $7,393,000. NextEra Energy makes up 1.4% of S Bank Fund Management Ltd's investment portfolio, making the stock its 19th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. National Pension Service increased its stake in shares of NextEra Energy by 7.0% in the 1st quarter. National Pension Service now owns 4,769,735 shares of the utilities provider's stock valued at $338,127,000 after purchasing an additional 312,712 shares in the last quarter. MSH Capital Advisors LLC increased its stake in NextEra Energy by 44.6% during the 1st quarter. MSH Capital Advisors LLC now owns 9,113 shares of the utilities provider's stock worth $646,000 after buying an additional 2,810 shares in the last quarter. Fox Hill Wealth Management increased its stake in NextEra Energy by 5.8% during the 1st quarter. Fox Hill Wealth Management now owns 20,071 shares of the utilities provider's stock worth $1,423,000 after buying an additional 1,109 shares in the last quarter. GKV Capital Management Co. Inc. purchased a new stake in NextEra Energy during the 1st quarter worth approximately $117,000. Finally, LGT Group Foundation increased its stake in NextEra Energy by 120.1% during the 1st quarter. LGT Group Foundation now owns 1,761,459 shares of the utilities provider's stock worth $124,870,000 after buying an additional 961,255 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company's stock.

NextEra Energy Price Performance

Shares of NextEra Energy stock traded up $3.16 on Friday, hitting $75.40. 23,396,505 shares of the company were exchanged, compared to its average volume of 11,935,209. The stock has a market capitalization of $155.27 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 2.49 and a beta of 0.63. The company has a 50-day moving average price of $72.69 and a 200 day moving average price of $70.58. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.10. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.36.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.52 billion. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 earnings per share. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 28th will be given a $0.5665 dividend. This represents a $2.27 annualized dividend and a yield of 3.0%. The ex-dividend date is Thursday, August 28th. NextEra Energy's dividend payout ratio is presently 79.37%.

Insiders Place Their Bets

In other NextEra Energy news, Treasurer James Michael May sold 2,177 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was 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 $2,143,805. This represents a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Coffey sold 7,500 shares of the company'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 owned 26,539 shares in the company, valued at $1,906,561.76. This trade represents a 22.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NEE has been the subject of several research reports. Wells Fargo & Company cut their price objective on NextEra Energy from $102.00 to $97.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. cut their price objective on NextEra Energy from $86.00 to $82.00 in a research note on Thursday, July 3rd. UBS Group cut their price objective on NextEra Energy from $94.00 to $84.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Erste Group Bank lowered NextEra Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets boosted their price objective on NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, NextEra Energy currently has an average rating of "Moderate Buy" and an average price target of $84.42.

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.