Synovus Financial Corp Acquires 14,443 Shares of NextEra Energy, Inc. $NEE

Key Points

• Synovus Financial Corp increased its holdings in NextEra Energy by 12.4%, acquiring an additional 14,443 shares during the first quarter, bringing its total to 130,627 shares valued at approximately $9.26 million.
• NextEra Energy announced a quarterly dividend of $0.5665 per share, yielding 3.0%, with the payment scheduled for September 15th.
• NextEra Energy’s recent earnings report showed $1.05 earnings per share, surpassing estimates, while the company reported a net margin of 22.84% and year-over-year revenue growth of 10.4%.

Synovus Financial Corp raised its holdings in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 12.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,627 shares of the utilities provider's stock after acquiring an additional 14,443 shares during the quarter. Synovus Financial Corp's holdings in NextEra Energy were worth $9,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NEE. Bellwether Advisors LLC bought a new position in shares of NextEra Energy in the fourth quarter worth $30,000. IMA Advisory Services Inc. bought a new position in shares of NextEra Energy in the first quarter worth $35,000. Copia Wealth Management bought a new position in shares of NextEra Energy in the fourth quarter worth $36,000. CBIZ Investment Advisory Services LLC grew its position in NextEra Energy by 237.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider's stock worth $37,000 after acquiring an additional 366 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new position in NextEra Energy in the first quarter worth $40,000. Institutional investors own 78.72% of the company's stock.

NextEra Energy Stock Performance

NYSE NEE opened at $76.2270 on Monday. The company has a 50-day simple moving average of $73.04 and a two-hundred day simple moving average of $70.81. 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, Inc. has a 12-month low of $61.72 and a 12-month high of $86.10. The firm has a market cap of $156.97 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 2.63 and a beta of 0.63.

NextEra Energy (NYSE:NEE - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.04. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The business had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same period in the prior year, the business posted $0.96 earnings per share. The company's revenue was up 10.4% on a year-over-year basis. On average, equities analysts forecast that NextEra Energy, Inc. will post 3.68 EPS 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 issued a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Thursday, August 28th. NextEra Energy's dividend payout ratio is currently 79.37%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NEE. BMO Capital Markets upped their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. UBS Group cut their target price on shares of NextEra Energy from $94.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Erste Group Bank lowered shares of NextEra Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Melius Research upgraded shares of NextEra Energy to a "strong-buy" rating in a research report on Wednesday, August 20th. Finally, Melius began coverage on shares of NextEra Energy in a research report on Wednesday, August 20th. They issued a "buy" rating and a $77.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, NextEra Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.23.

Insider Transactions at NextEra Energy

In other news, Treasurer James Michael May sold 2,177 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total transaction of $168,717.50. Following the completion of the sale, the treasurer directly owned 27,662 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, EVP Robert Coffey sold 7,500 shares of the 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 sale, the executive vice president owned 26,539 shares of the company's stock, valued at approximately $1,906,561.76. This represents a 22.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.