Principal Financial Group Inc. lifted its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,036,113 shares of the utilities provider’s stock after buying an additional 175,986 shares during the quarter. Principal Financial Group Inc.’s holdings in NextEra Energy were worth $369,045,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Cullen Capital Management LLC lifted its stake in NextEra Energy by 299.7% in the first quarter. Cullen Capital Management LLC now owns 2,466,902 shares of the utilities provider’s stock worth $186,522,000 after acquiring an additional 1,849,666 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of NextEra Energy in the 2nd quarter worth approximately $130,759,000. Blackstone Group Inc. lifted its position in shares of NextEra Energy by 146.0% in the 1st quarter. Blackstone Group Inc. now owns 2,705,448 shares of the utilities provider’s stock worth $204,559,000 after purchasing an additional 1,605,798 shares during the period. Ninety One UK Ltd boosted its stake in shares of NextEra Energy by 88.0% during the first quarter. Ninety One UK Ltd now owns 3,108,229 shares of the utilities provider’s stock valued at $235,013,000 after purchasing an additional 1,454,994 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. purchased a new position in NextEra Energy during the second quarter valued at approximately $88,810,000. Hedge funds and other institutional investors own 74.67% of the company’s stock.
Several analysts have issued reports on NEE shares. Barclays dropped their target price on NextEra Energy from $82.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 25th. Credit Suisse Group assumed coverage on NextEra Energy in a research report on Wednesday, July 14th. They set an “outperform” rating and a $85.00 price objective on the stock. Finally, Morgan Stanley boosted their target price on shares of NextEra Energy from $78.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, August 19th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, NextEra Energy has a consensus rating of “Buy” and a consensus price target of $80.70.
NEE opened at $84.50 on Wednesday. The company has a market cap of $165.74 billion, a P/E ratio of 53.07, a price-to-earnings-growth ratio of 4.05 and a beta of 0.19. The company has a quick ratio of 0.38, a current ratio of 0.48 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average price is $81.06 and its 200-day moving average price is $76.90. NextEra Energy, Inc. has a 52-week low of $66.79 and a 52-week high of $87.69.
NextEra Energy (NYSE:NEE) last released its earnings results on Thursday, July 22nd. The utilities provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. The company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $4.91 billion. NextEra Energy had a net margin of 18.69% and a return on equity of 10.84%. NextEra Energy’s revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.61 EPS. On average, research analysts anticipate that NextEra Energy, Inc. will post 2.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Investors of record on Friday, August 27th will be paid a $0.385 dividend. The ex-dividend date of this dividend is Thursday, August 26th. This represents a $1.54 dividend on an annualized basis and a yield of 1.82%. NextEra Energy’s dividend payout ratio (DPR) is 66.67%.
NextEra Energy Company Profile
NextEra Energy, Inc is an electric power and energy infrastructure company. It operates through the following segments: FPL & NEER. The FPL segment engages primarily in the generation, transmission, distribution and sale of electric energy in Florida. The NEER segment produces electricity from clean and renewable sources, including wind and solar.
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