Stonegate Investment Group LLC Buys New Stake in NextEra Energy, Inc. (NYSE:NEE)

Stonegate Investment Group LLC bought a new stake in NextEra Energy, Inc. (NYSE:NEE) during the first quarter, according to its most recent filing with the SEC. The firm bought 117,628 shares of the utilities provider’s stock, valued at approximately $7,518,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEE. Clear Investment Research LLC boosted its holdings in NextEra Energy by 387.2% in the 4th quarter. Clear Investment Research LLC now owns 458 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 364 shares during the period. BOK Financial Private Wealth Inc. bought a new stake in NextEra Energy in the 4th quarter valued at $29,000. Stuart Chaussee & Associates Inc. boosted its holdings in NextEra Energy by 315.4% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 410 shares during the period. Rakuten Securities Inc. bought a new stake in NextEra Energy in the 4th quarter valued at $34,000. Finally, Alaska Permanent Fund Corp boosted its holdings in NextEra Energy by 59.8% in the 3rd quarter. Alaska Permanent Fund Corp now owns 556 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 208 shares during the period. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Bank of America increased their price target on shares of NextEra Energy from $61.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $74.00 price target on shares of NextEra Energy in a report on Tuesday, January 30th. Mizuho raised their price objective on shares of NextEra Energy from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Morgan Stanley lifted their target price on shares of NextEra Energy from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Scotiabank lifted their target price on shares of NextEra Energy from $69.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.50.

NextEra Energy Price Performance

NYSE:NEE traded down $0.44 on Tuesday, reaching $66.99. The stock had a trading volume of 10,042,329 shares, compared to its average volume of 11,865,637. The company has a market capitalization of $137.62 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 2.43 and a beta of 0.51. NextEra Energy, Inc. has a 1-year low of $47.15 and a 1-year high of $78.53. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.12. The stock has a fifty day moving average price of $61.26 and a 200-day moving average price of $59.34.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.28 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The company’s revenue for the quarter was down 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 earnings per share. Research analysts forecast that NextEra Energy, Inc. will post 3.4 EPS for the current year.

NextEra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a $0.515 dividend. The ex-dividend date of this dividend was Monday, February 26th. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. This represents a $2.06 dividend on an annualized basis and a yield of 3.08%. NextEra Energy’s payout ratio is 56.13%.

About NextEra Energy

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.