Griffin Asset Management Inc. purchased a new position in NextEra Energy, Inc. (NYSE:NEE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 94,551 shares of the utilities provider’s stock, valued at approximately $13,249,000. NextEra Energy accounts for 3.5% of Griffin Asset Management Inc.’s holdings, making the stock its 2nd biggest position.
Several other hedge funds and other institutional investors have also modified their holdings of NEE. Fox Run Management L.L.C. bought a new position in NextEra Energy in the second quarter worth approximately $1,289,000. Almanack Investment Partners LLC. grew its stake in NextEra Energy by 64.6% in the second quarter. Almanack Investment Partners LLC. now owns 2,163 shares of the utilities provider’s stock worth $303,000 after purchasing an additional 849 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in NextEra Energy by 12.7% in the first quarter. Salem Investment Counselors Inc. now owns 9,001 shares of the utilities provider’s stock worth $1,154,000 after purchasing an additional 1,012 shares in the last quarter. NGAM Advisors L.P. grew its stake in NextEra Energy by 8.9% in the second quarter. NGAM Advisors L.P. now owns 63,026 shares of the utilities provider’s stock worth $8,832,000 after purchasing an additional 5,175 shares in the last quarter. Finally, Capital One National Association grew its stake in NextEra Energy by 30.9% in the second quarter. Capital One National Association now owns 21,617 shares of the utilities provider’s stock worth $3,030,000 after purchasing an additional 5,099 shares in the last quarter. Hedge funds and other institutional investors own 75.23% of the company’s stock.
In other news, Director James L. Robo sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $151.52, for a total value of $4,545,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles E. Sieving sold 30,485 shares of the firm’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $146.56, for a total value of $4,467,881.60. Following the completion of the sale, the executive vice president now directly owns 78,167 shares of the company’s stock, valued at approximately $11,456,155.52. The disclosure for this sale can be found here. Insiders sold a total of 65,385 shares of company stock valued at $9,748,482 in the last three months. Insiders own 0.53% of the company’s stock.
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NEE has been the topic of several research analyst reports. KeyCorp reissued a “buy” rating and issued a $155.00 price objective on shares of NextEra Energy in a research note on Friday, September 1st. Zacks Investment Research cut NextEra Energy from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Morgan Stanley increased their target price on NextEra Energy from $167.00 to $169.00 and gave the company an “overweight” rating in a research report on Friday, September 8th. Bank of America Corporation initiated coverage on NextEra Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $166.00 target price on the stock. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on NextEra Energy in a research report on Monday, July 24th. They set a “buy” rating and a $160.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $155.38.
Shares of NextEra Energy, Inc. (NYSE NEE) opened at $156.04 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.61 and a quick ratio of 0.49. The firm has a market capitalization of $73,400.91, a price-to-earnings ratio of 23.39, a PEG ratio of 3.10 and a beta of 0.31. NextEra Energy, Inc. has a 52-week low of $112.63 and a 52-week high of $159.28.
NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.08. The firm had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.89 billion. NextEra Energy had a return on equity of 11.86% and a net margin of 24.81%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.74 EPS. research analysts expect that NextEra Energy, Inc. will post 6.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be given a $0.9825 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $3.93 dividend on an annualized basis and a dividend yield of 2.52%. NextEra Energy’s payout ratio is 44.16%.
NextEra Energy Company Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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