Magellan Asset Management Ltd Grows Holdings in NextEra Energy, Inc. $NEE

Magellan Asset Management Ltd boosted its position in NextEra Energy, Inc. (NYSE:NEE) by 17.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 466,670 shares of the utilities provider’s stock after purchasing an additional 70,081 shares during the period. Magellan Asset Management Ltd’s holdings in NextEra Energy were worth $32,396,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NEE. Daymark Wealth Partners LLC increased its position in NextEra Energy by 6.5% in the second quarter. Daymark Wealth Partners LLC now owns 45,015 shares of the utilities provider’s stock worth $3,125,000 after buying an additional 2,767 shares during the last quarter. Avity Investment Management Inc. lifted its holdings in shares of NextEra Energy by 1.7% in the second quarter. Avity Investment Management Inc. now owns 506,515 shares of the utilities provider’s stock worth $35,162,000 after buying an additional 8,565 shares in the last quarter. Dillon & Associates Inc. boosted its holdings in NextEra Energy by 8.4% in the 2nd quarter. Dillon & Associates Inc. now owns 68,246 shares of the utilities provider’s stock valued at $4,709,000 after purchasing an additional 5,261 shares during the period. Integrity Alliance LLC. boosted its stake in NextEra Energy by 41.8% during the first quarter. Integrity Alliance LLC. now owns 25,092 shares of the utilities provider’s stock valued at $1,779,000 after buying an additional 7,401 shares during the period. Finally, Elyxium Wealth LLC bought a new stake in shares of NextEra Energy during the 1st quarter valued at about $783,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Trading Up 2.3%

NEE opened at $83.92 on Friday. NextEra Energy, Inc. has a one year low of $61.72 and a one year high of $87.53. The stock has a market cap of $174.76 billion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 2.76 and a beta of 0.69. The stock’s 50 day moving average price is $78.17 and its 200-day moving average price is $73.95. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.45 and a current ratio of 0.55.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.09. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.The company had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. NextEra Energy’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be given a dividend of $0.5665 per share. The ex-dividend date is Friday, November 21st. This represents a $2.27 dividend on an annualized basis and a yield of 2.7%. NextEra Energy’s payout ratio is currently 71.97%.

Analysts Set New Price Targets

Several equities analysts have recently commented on NEE shares. UBS Group reiterated a “buy” rating and set a $96.00 price objective (up from $84.00) on shares of NextEra Energy in a research report on Wednesday, October 29th. Argus set a $90.00 target price on NextEra Energy in a research note on Wednesday, October 29th. Melius assumed coverage on shares of NextEra Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $77.00 price objective for the company. Melius Research raised shares of NextEra Energy to a “strong-buy” rating in a research report on Wednesday, August 20th. Finally, TD Cowen started coverage on shares of NextEra Energy in a report on Thursday, October 16th. They set a “buy” rating and a $98.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.22.

Insider Transactions at NextEra Energy

In related news, EVP Mark Lemasney sold 846 shares of the business’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $74.90, for a total value of $63,365.40. Following the completion of the sale, the executive vice president owned 9,267 shares of the company’s stock, valued at approximately $694,098.30. The trade was a 8.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Charles E. Sieving sold 11,336 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total value of $906,880.00. Following the completion of the transaction, the executive vice president owned 167,481 shares in the company, valued at approximately $13,398,480. This trade represents a 6.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,028 shares of company stock worth $1,738,973 over the last quarter. 0.18% of the stock is currently owned by insiders.

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.