NextEra Energy, Inc. $NEE Stock: Inspire Trust Co. N.A. Increases Holdings

Inspire Trust Co. N.A. grew its position in NextEra Energy, Inc. (NYSE:NEE) by 11.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 197,000 shares of the utilities provider’s stock after acquiring an additional 20,000 shares during the quarter. NextEra Energy accounts for about 1.8% of Inspire Trust Co. N.A.’s holdings, making the stock its 10th largest position. Inspire Trust Co. N.A.’s holdings in NextEra Energy were worth $14,921,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Legal & General Group Plc acquired a new stake in shares of NextEra Energy during the 2nd quarter valued at about $1,465,987,000. GQG Partners LLC acquired a new position in shares of NextEra Energy in the 2nd quarter worth approximately $651,293,000. Canada Pension Plan Investment Board bought a new position in shares of NextEra Energy during the 2nd quarter worth approximately $389,527,000. Amundi lifted its position in shares of NextEra Energy by 46.5% during the 2nd quarter. Amundi now owns 13,329,077 shares of the utilities provider’s stock worth $1,169,839,000 after buying an additional 4,231,814 shares during the period. Finally, Caisse de depot et placement du Quebec bought a new position in shares of NextEra Energy during the 2nd quarter worth approximately $288,886,000. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Stock Performance

Shares of NextEra Energy stock opened at $86.27 on Wednesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.53 and a quick ratio of 0.45. The firm has a market cap of $180.93 billion, a P/E ratio of 15.54, a P/E/G ratio of 2.68 and a beta of 0.60. The firm has a 50 day simple moving average of $80.68 and a 200 day simple moving average of $87.29. NextEra Energy, Inc. has a fifty-two week low of $74.41 and a fifty-two week high of $98.75.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Wednesday, October 21st. The utilities provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. NextEra Energy had a net margin of 40.37% and a return on equity of 12.27%. The firm had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $8.47 billion. During the same quarter in the previous year, the company posted $1.13 EPS. NextEra Energy’s revenue was up 1.6% on a year-over-year basis. Sell-side analysts predict that NextEra Energy, Inc. will post 4.01 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 27th will be given a dividend of $0.6232 per share. The ex-dividend date is Friday, November 27th. This represents a $2.49 dividend on an annualized basis and a dividend yield of 2.9%. NextEra Energy’s payout ratio is presently 44.86%.

Analysts Set New Price Targets

A number of brokerages have weighed in on NEE. Piper Sandler set a $88.00 price target on NextEra Energy in a research report on Tuesday, October 20th. BTIG Research set a $106.00 target price on shares of NextEra Energy in a report on Thursday, October 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $108.00 target price on shares of NextEra Energy in a report on Wednesday, October 21st. Wells Fargo & Company upgraded shares of NextEra Energy to a “strong-buy” rating in a research report on Monday, October 12th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of NextEra Energy in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $97.80.

About NextEra Energy

NextEra Energy, Inc. is an energy company whose businesses include Florida Power & Light Company (FPL), a regulated electric utility, and NextEra Energy Resources, a developer and operator of energy infrastructure. FPL generates, transmits and distributes electricity to customers across Florida. NextEra Energy Resources develops and operates projects in North America, including wind and solar generation, battery storage, and natural gas and nuclear facilities. The company also invests in transmission infrastructure and provides energy-related services.