NextEra Energy, Inc. (NYSE:NEE) Position Lifted by Spring Capital Management LLC

Spring Capital Management LLC boosted its holdings in NextEra Energy, Inc. (NYSE:NEE) by 8.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 72,299 shares of the utilities provider’s stock after purchasing an additional 5,361 shares during the quarter. NextEra Energy accounts for approximately 4.5% of Spring Capital Management LLC’s investment portfolio, making the stock its 9th largest holding. Spring Capital Management LLC’s holdings in NextEra Energy were worth $6,111,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. M&G Plc purchased a new stake in shares of NextEra Energy during the first quarter valued at approximately $303,065,000. Zimmer Partners LP grew its position in shares of NextEra Energy by 8,447.5% during the first quarter. Zimmer Partners LP now owns 2,735,200 shares of the utilities provider’s stock worth $174,807,000 after buying an additional 2,703,200 shares in the last quarter. State of Michigan Retirement System grew its position in shares of NextEra Energy by 400.7% during the first quarter. State of Michigan Retirement System now owns 2,812,198 shares of the utilities provider’s stock worth $179,728,000 after buying an additional 2,250,500 shares in the last quarter. Raymond James & Associates grew its position in shares of NextEra Energy by 57.0% during the second quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock worth $421,831,000 after buying an additional 2,163,437 shares in the last quarter. Finally, LGT Group Foundation grew its position in shares of NextEra Energy by 962.8% during the second quarter. LGT Group Foundation now owns 1,514,482 shares of the utilities provider’s stock worth $107,240,000 after buying an additional 1,371,982 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

Shares of NYSE NEE traded down $0.05 during midday trading on Wednesday, reaching $83.65. 1,717,751 shares of the company traded hands, compared to its average volume of 10,714,349. NextEra Energy, Inc. has a 52 week low of $53.11 and a 52 week high of $86.10. The stock has a 50-day moving average price of $82.05 and a 200 day moving average price of $75.89. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.49 and a quick ratio of 0.41. The company has a market cap of $171.86 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 2.92 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The firm had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the previous year, the business earned $0.88 earnings per share. Sell-side analysts anticipate that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 2.46%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s dividend payout ratio (DPR) is presently 56.13%.

Insiders Place Their Bets

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $76.97, for a total value of $50,646.26. Following the sale, the executive vice president now directly owns 100 shares in the company, valued at approximately $7,697. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NEE shares. Bank of America raised their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective on shares of NextEra Energy from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. BMO Capital Markets lifted their price objective on shares of NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Dbs Bank downgraded shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company lifted their price objective on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $85.46.

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.