Cullen Frost Bankers Inc. Reduces Position in NextEra Energy Inc (NEE)
Cullen Frost Bankers Inc. lessened its holdings in shares of NextEra Energy Inc (NYSE:NEE) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,996 shares of the utilities provider’s stock after selling 955 shares during the period. Cullen Frost Bankers Inc.’s holdings in NextEra Energy were worth $6,008,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. State of Tennessee Treasury Department grew its stake in shares of NextEra Energy by 59.3% in the 3rd quarter. State of Tennessee Treasury Department now owns 649,774 shares of the utilities provider’s stock valued at $95,225,000 after buying an additional 241,842 shares during the period. State of Wisconsin Investment Board grew its stake in shares of NextEra Energy by 3.6% in the 3rd quarter. State of Wisconsin Investment Board now owns 493,949 shares of the utilities provider’s stock valued at $72,388,000 after buying an additional 17,115 shares during the period. Mn Services Vermogensbeheer B.V. grew its stake in shares of NextEra Energy by 0.7% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 77,368 shares of the utilities provider’s stock valued at $11,338,000 after buying an additional 500 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of NextEra Energy by 4.0% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 72,058 shares of the utilities provider’s stock valued at $10,560,000 after buying an additional 2,761 shares during the period. Finally, Empirical Finance LLC purchased a new stake in shares of NextEra Energy in the 3rd quarter valued at approximately $234,000. 75.63% of the stock is owned by institutional investors.
Several analysts have recently weighed in on NEE shares. BidaskClub raised shares of NextEra Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Morgan Stanley upped their price objective on shares of NextEra Energy from $163.00 to $167.00 and gave the stock an “overweight” rating in a report on Thursday, August 10th. Zacks Investment Research lowered shares of NextEra Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. KeyCorp restated a “buy” rating and issued a $155.00 price objective on shares of NextEra Energy in a report on Friday, September 1st. Finally, J P Morgan Chase & Co assumed coverage on shares of NextEra Energy in a report on Thursday, September 7th. They issued an “overweight” rating and a $173.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $155.38.
Shares of NextEra Energy Inc (NEE) traded down $0.57 during mid-day trading on Monday, hitting $157.47. 1,428,100 shares of the stock traded hands, compared to its average volume of 1,684,438. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.49 and a current ratio of 0.61. NextEra Energy Inc has a 52-week low of $113.18 and a 52-week high of $159.28. The firm has a market cap of $74,073.52, a price-to-earnings ratio of 23.61, a P/E/G ratio of 3.14 and a beta of 0.31.
NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.85 EPS for the quarter, topping the consensus estimate of $1.77 by $0.08. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.89 billion. NextEra Energy had a net margin of 24.81% and a return on equity of 11.86%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.74 EPS. analysts forecast that NextEra Energy Inc will post 6.73 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.9825 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $3.93 dividend on an annualized basis and a yield of 2.50%. NextEra Energy’s dividend payout ratio (DPR) is presently 44.16%.
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About NextEra Energy
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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