Sumitomo Mitsui DS Asset Management Company Ltd Buys 9,424 Shares of NextEra Energy, Inc. $NEE

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd has increased its stake in NextEra Energy, Inc. by 2.3%, owning 417,691 shares valued at approximately $29 million as of the latest SEC filing.
• In the 1st quarter, other large investors, including Vanguard Group and Goldman Sachs, also raised their stakes in NextEra Energy, indicating strong institutional interest with hedge funds owning 78.72% of the stock.
• NextEra Energy recently announced a quarterly dividend of $0.5665, representing a 3.2% yield, and it has beaten earnings expectations with a reported $1.05 EPS for the quarter.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 417,691 shares of the utilities provider's stock after acquiring an additional 9,424 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in NextEra Energy were worth $28,996,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. 1 North Wealth Services LLC bought a new position in NextEra Energy in the first quarter valued at about $26,000. Nova Wealth Management Inc. purchased a new stake in shares of NextEra Energy in the 1st quarter valued at approximately $32,000. IMA Advisory Services Inc. acquired a new stake in shares of NextEra Energy in the 1st quarter valued at $35,000. Copia Wealth Management purchased a new position in NextEra Energy during the 4th quarter worth $36,000. Finally, Semmax Financial Advisors Inc. increased its holdings in NextEra Energy by 335.0% during the 1st quarter. Semmax Financial Advisors Inc. now owns 509 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 392 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company's stock.

NextEra Energy Price Performance

NEE traded up $0.25 during trading hours on Friday, hitting $71.04. The company's stock had a trading volume of 14,817,505 shares, compared to its average volume of 9,176,082. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. The stock has a market cap of $146.29 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 2.45 and a beta of 0.65. The business's 50-day moving average price is $72.77 and its 200-day moving average price is $71.06. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.10.

NextEra Energy (NYSE:NEE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, beating 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 net margin of 22.84% and a return on equity of 12.31%. The business's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. Sell-side analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 28th were issued a $0.5665 dividend. This represents a $2.27 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Thursday, August 28th. NextEra Energy's payout ratio is currently 79.37%.

Insiders Place Their Bets

In other NextEra Energy news, EVP Mark Lemasney sold 846 shares of the business's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $71.90, for a total transaction of $60,827.40. Following the completion of the transaction, the executive vice president owned 10,113 shares in the company, valued at $727,124.70. The trade was a 7.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Dunne sold 10,000 shares of the business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $70.79, for a total transaction of $707,900.00. Following the transaction, the executive vice president directly owned 62,064 shares in the company, valued at approximately $4,393,510.56. The trade was a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,523 shares of company stock valued at $1,476,245 in the last 90 days. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

NEE has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. UBS Group cut their target price 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. Morgan Stanley restated an "overweight" rating on shares of NextEra Energy in a report on Thursday, August 21st. BMO Capital Markets boosted their price objective on shares of NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Finally, Melius began coverage on NextEra Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $77.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $84.00.

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.