Concord Asset Management LLC VA Purchases 8,023 Shares of NextEra Energy, Inc. (NYSE:NEE)

by · The Markets Daily

Concord Asset Management LLC VA raised its holdings in NextEra Energy, Inc. (NYSE:NEE – Free Report) by 23.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,845 shares of the utilities provider’s stock after buying an additional 8,023 shares during the quarter. Concord Asset Management LLC VA’s holdings in NextEra Energy were worth $3,537,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its holdings in NextEra Energy by 0.7% in the 2nd quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock valued at $1,508,155,000 after purchasing an additional 143,748 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of NextEra Energy by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,178,185 shares of the utilities provider’s stock valued at $579,097,000 after buying an additional 691,341 shares during the last quarter. Raymond James & Associates lifted its stake in shares of NextEra Energy by 14.3% in the third quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock valued at $575,573,000 after buying an additional 851,873 shares during the period. Principal Financial Group Inc. grew its position in NextEra Energy by 7.2% during the second quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider’s stock worth $431,966,000 after buying an additional 409,708 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in NextEra Energy by 6.9% during the second quarter. Bahl & Gaynor Inc. now owns 5,981,760 shares of the utilities provider’s stock valued at $423,568,000 after acquiring an additional 388,149 shares during the period. 78.72% of the stock is owned by institutional investors.

NextEra Energy Price Performance

NEE opened at $76.35 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33. The company’s 50 day simple moving average is $81.53 and its 200-day simple moving average is $77.48. NextEra Energy, Inc. has a one year low of $53.95 and a one year high of $86.10. The stock has a market capitalization of $157.01 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 2.76 and a beta of 0.57.

NextEra Energy (NYSE:NEE – Get Free Report) last released its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. The company had revenue of $7.57 billion during the quarter, compared to analysts’ expectations of $8.11 billion. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.94 EPS. Sell-side analysts anticipate that NextEra Energy, Inc. will post 3.41 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s dividend payout ratio is 60.95%.

Insider Buying and Selling

In related news, EVP Nicole J. Daggs sold 4,007 shares of NextEra Energy stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $75.57, for a total transaction of $302,808.99. Following the completion of the sale, the executive vice president now directly owns 15,792 shares of the company’s stock, valued at $1,193,401.44. The trade was a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Guggenheim lifted their price objective on NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Wells Fargo & Company boosted their price target on shares of NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Morgan Stanley raised their price objective on shares of NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Bank of America upped their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. lifted their price objective on NextEra Energy from $91.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $86.54.

Read Our Latest Stock Analysis on NEE

NextEra Energy Company Profile

(Free Report)

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.

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