Cinctive Capital Management LP Has $9.18 Million Position in NextEra Energy, Inc. $NEE

Cinctive Capital Management LP boosted its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 423.9% during the third quarter, Holdings Channel.com reports. The fund owned 121,541 shares of the utilities provider’s stock after acquiring an additional 98,342 shares during the period. Cinctive Capital Management LP’s holdings in NextEra Energy were worth $9,175,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEE. Tripletail Wealth Management LLC acquired a new stake in shares of NextEra Energy during the 3rd quarter worth $25,000. Goodman Advisory Group LLC acquired a new position in NextEra Energy in the second quarter valued at about $25,000. Howard Hughes Medical Institute acquired a new position in NextEra Energy in the second quarter valued at about $31,000. Abound Wealth Management lifted its position in NextEra Energy by 108.2% during the third quarter. Abound Wealth Management now owns 456 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 237 shares during the period. Finally, Rexford Capital Inc. bought a new stake in NextEra Energy during the second quarter worth about $34,000. 78.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of NextEra Energy from $94.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, December 11th. The Goldman Sachs Group upped their price target on shares of NextEra Energy from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. HSBC increased their price target on shares of NextEra Energy from $96.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. BTIG Research reissued a “buy” rating and issued a $103.00 price objective on shares of NextEra Energy in a research note on Wednesday, January 28th. Finally, Seaport Research Partners lowered their price objective on shares of NextEra Energy from $56.00 to $55.00 and set a “sell” rating for the company in a research report on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.16.

NextEra Energy Trading Up 1.2%

NEE opened at $92.81 on Friday. The company’s 50 day moving average is $88.42 and its 200-day moving average is $82.89. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $95.91. The company has a current ratio of 0.60, a quick ratio of 0.49 and a debt-to-equity ratio of 1.35. The company has a market cap of $193.38 billion, a P/E ratio of 28.21 and a beta of 0.76.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Tuesday, January 27th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $6.50 billion for the quarter, compared to analyst estimates of $7.07 billion. NextEra Energy had a net margin of 24.93% and a return on equity of 12.18%. The firm’s revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. Equities research analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.6232 per share. This represents a $2.49 annualized dividend and a dividend yield of 2.7%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, February 27th. NextEra Energy’s dividend payout ratio (DPR) is currently 75.68%.

Insider Activity at NextEra Energy

In related news, EVP Ronald R. Reagan sold 18,620 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $90.00, for a total transaction of $1,675,800.00. Following the sale, the executive vice president owned 9,643 shares in the company, valued at $867,870. The trade was a 65.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Treasurer James Michael May sold 7,161 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $90.27, for a total value of $646,423.47. Following the completion of the transaction, the treasurer directly owned 26,719 shares of the company’s stock, valued at approximately $2,411,924.13. The trade was a 21.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 185,882 shares of company stock valued at $16,616,757. 0.20% of the stock is owned by company insiders.

NextEra Energy Company Profile

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.