Oak Asset Management LLC Boosts Holdings in NextEra Energy, Inc. (NYSE:NEE)

Oak Asset Management LLC raised its position in NextEra Energy, Inc. (NYSE:NEE) by 8.2% in the 1st quarter, Holdings Channel reports. The firm owned 8,574 shares of the utilities provider’s stock after buying an additional 650 shares during the quarter. Oak Asset Management LLC’s holdings in NextEra Energy were worth $608,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Breakwater Capital Group raised its holdings in shares of NextEra Energy by 31.4% in the 1st quarter. Breakwater Capital Group now owns 12,612 shares of the utilities provider’s stock valued at $894,000 after acquiring an additional 3,013 shares in the last quarter. Chesley Taft & Associates LLC increased its position in shares of NextEra Energy by 1.1% in the first quarter. Chesley Taft & Associates LLC now owns 147,479 shares of the utilities provider’s stock worth $10,455,000 after purchasing an additional 1,561 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of NextEra Energy by 24.0% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 46,920 shares of the utilities provider’s stock worth $3,326,000 after purchasing an additional 9,091 shares during the last quarter. Lake Street Private Wealth LLC grew its stake in NextEra Energy by 52.9% in the 1st quarter. Lake Street Private Wealth LLC now owns 7,018 shares of the utilities provider’s stock worth $498,000 after buying an additional 2,427 shares in the last quarter. Finally, Fermata Advisors LLC lifted its holdings in shares of NextEra Energy by 74.7% during the 1st quarter. Fermata Advisors LLC now owns 7,506 shares of the utilities provider’s stock worth $532,000 after acquiring an additional 3,210 shares during the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Stock Down 1.5%

Shares of NextEra Energy stock opened at $69.87 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.38 and a current ratio of 0.47. NextEra Energy, Inc. has a 52-week low of $61.72 and a 52-week high of $86.10. The company’s 50 day moving average price is $68.41 and its 200-day moving average price is $70.71. The stock has a market capitalization of $143.84 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 2.45 and a beta of 0.69.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.99. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. The business had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same quarter last year, the firm earned $0.91 EPS. The company’s revenue was up 9.0% on a year-over-year basis. Equities research analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.5665 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.27 annualized dividend and a dividend yield of 3.24%. NextEra Energy’s dividend payout ratio (DPR) is presently 84.64%.

Insiders Place Their Bets

In other news, EVP Charles E. Sieving sold 23,684 shares of NextEra Energy stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the sale, the executive vice president now owns 196,817 shares of the company’s stock, valued at approximately $13,777,190. The trade was a 10.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. increased their target price on NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Barclays reduced their price objective on NextEra Energy from $73.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 29th. Wells Fargo & Company dropped their target price on NextEra Energy from $102.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. UBS Group cut their target price on NextEra Energy from $94.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, May 23rd. Finally, Erste Group Bank downgraded shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.50.

NextEra Energy Company Profile

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.