NextEra Energy (NYSE:NEE) Hits New 12-Month High on Better-Than-Expected Earnings

NextEra Energy Inc (NYSE:NEE) shares reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $235.47 and last traded at $235.45, with a volume of 102018 shares trading hands. The stock had previously closed at $232.80.

The utilities provider reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.12. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.14 billion. NextEra Energy had a net margin of 18.73% and a return on equity of 10.46%. The company’s quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter last year, the business earned $2.18 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.12%. NextEra Energy’s dividend payout ratio is presently 64.94%.

A number of equities analysts have weighed in on the stock. Bank of America increased their target price on shares of NextEra Energy from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. JPMorgan Chase & Co. increased their target price on shares of NextEra Energy from $214.00 to $252.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. ValuEngine lowered shares of NextEra Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley raised their price objective on shares of NextEra Energy from $241.00 to $242.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, KeyCorp raised their price objective on shares of NextEra Energy from $231.00 to $242.00 and gave the company an “overweight” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $224.00.

In related news, Treasurer Paul I. Cutler sold 23,750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $223.59, for a total value of $5,310,262.50. Following the sale, the treasurer now directly owns 93,462 shares of the company’s stock, valued at $20,897,168.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rudy E. Schupp sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $231.32, for a total transaction of $370,112.00. Following the completion of the sale, the director now directly owns 16,237 shares in the company, valued at $3,755,942.84. The disclosure for this sale can be found here. Insiders sold 97,576 shares of company stock valued at $21,514,886 over the last 90 days. 0.48% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in NEE. Bedel Financial Consulting Inc. raised its stake in shares of NextEra Energy by 1.4% during the third quarter. Bedel Financial Consulting Inc. now owns 3,412 shares of the utilities provider’s stock worth $795,000 after acquiring an additional 47 shares in the last quarter. Horan Securities Inc. raised its stake in shares of NextEra Energy by 37.6% during the third quarter. Horan Securities Inc. now owns 172 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 47 shares in the last quarter. Meridian Financial Partners LLC raised its stake in shares of NextEra Energy by 1.8% during the second quarter. Meridian Financial Partners LLC now owns 2,824 shares of the utilities provider’s stock worth $588,000 after acquiring an additional 49 shares in the last quarter. Grove Bank & Trust raised its stake in shares of NextEra Energy by 1.0% during the second quarter. Grove Bank & Trust now owns 4,954 shares of the utilities provider’s stock worth $1,015,000 after acquiring an additional 49 shares in the last quarter. Finally, Bogart Wealth LLC raised its stake in shares of NextEra Energy by 1.4% during the second quarter. Bogart Wealth LLC now owns 4,026 shares of the utilities provider’s stock worth $824,000 after acquiring an additional 54 shares in the last quarter. 76.10% of the stock is currently owned by institutional investors and hedge funds.

The stock has a market capitalization of $111.38 billion, a PE ratio of 30.58, a P/E/G ratio of 3.46 and a beta of 0.18. The firm’s 50 day simple moving average is $226.80 and its 200 day simple moving average is $209.52. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.52 and a quick ratio of 0.42.

NextEra Energy Company Profile (NYSE:NEE)

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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.

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