American International Group Inc. Buys 2,974 Shares of NextEra Energy, Inc. (NYSE:NEE)

Posted by Teresa Graham on May 26th, 2023

American International Group Inc. increased its position in shares of NextEra Energy, Inc. (NYSE:NEE – Get Rating) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 517,467 shares of the utilities provider’s stock after buying an additional 2,974 shares during the quarter. American International Group Inc.’s holdings in NextEra Energy were worth $43,260,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NEE. Two Sigma Advisers LP acquired a new position in shares of NextEra Energy in the third quarter valued at $24,166,000. M. Kraus & Co boosted its position in shares of NextEra Energy by 2.4% during the 4th quarter. M. Kraus & Co now owns 139,454 shares of the utilities provider’s stock valued at $11,658,000 after acquiring an additional 3,229 shares in the last quarter. Oxler Private Wealth LLC increased its stake in NextEra Energy by 0.5% in the third quarter. Oxler Private Wealth LLC now owns 42,270 shares of the utilities provider’s stock valued at $3,314,000 after acquiring an additional 198 shares during the period. Massmutual Trust Co. FSB ADV raised its position in NextEra Energy by 5.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 141,104 shares of the utilities provider’s stock worth $11,796,000 after purchasing an additional 6,828 shares in the last quarter. Finally, Verity & Verity LLC acquired a new position in NextEra Energy in the fourth quarter worth about $643,000. 76.17% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Price Performance

Shares of NEE traded up $0.09 during mid-day trading on Friday, hitting $73.48. 3,559,746 shares of the company traded hands, compared to its average volume of 8,159,751. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $148.68 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.85 and a beta of 0.47. The business has a 50-day moving average of $76.54 and a 200 day moving average of $78.90. NextEra Energy, Inc. has a one year low of $69.64 and a one year high of $91.35.

NextEra Energy (NYSE:NEE – Get Rating) last released its earnings results on Tuesday, April 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $5.78 billion. NextEra Energy had a return on equity of 12.44% and a net margin of 26.97%. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, equities analysts expect that NextEra Energy, Inc. will post 3.11 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 Thursday, June 15th. Investors of record on Tuesday, May 30th will be paid a dividend of $0.4675 per share. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, May 26th. NextEra Energy’s dividend payout ratio (DPR) is 55.65%.

Analysts Set New Price Targets

NEE has been the topic of several analyst reports. Bank of America lowered NextEra Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $94.00 to $80.00 in a research note on Thursday, January 26th. Morgan Stanley increased their price objective on NextEra Energy from $94.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. BMO Capital Markets cut their price objective on NextEra Energy from $95.00 to $90.00 in a report on Wednesday, April 26th. Wells Fargo & Company lowered their target price on shares of NextEra Energy from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, March 2nd. Finally, Guggenheim cut their price target on shares of NextEra Energy from $96.00 to $92.00 in a report on Monday, April 24th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.50.

About NextEra Energy

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NextEra Energy, Inc engages in the provision of renewable energy. It operates through the following segments: FPL and NEER. The FPL segment involves 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.