Sumitomo Mitsui DS Asset Management Company Ltd Has $28.94 Million Stock Position in NextEra Energy, Inc. (NYSE:NEE)

by · The Cerbat Gem

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in NextEra Energy, Inc. (NYSE:NEE – Free Report) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 408,267 shares of the utilities provider’s stock after buying an additional 9,380 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in NextEra Energy were worth $28,942,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bellwether Advisors LLC acquired a new position in NextEra Energy in the 4th quarter worth $30,000. WealthTrak Capital Management LLC bought a new stake in shares of NextEra Energy in the fourth quarter valued at about $33,000. Copia Wealth Management acquired a new position in shares of NextEra Energy during the fourth quarter worth about $36,000. Promus Capital LLC bought a new position in shares of NextEra Energy during the fourth quarter worth about $45,000. Finally, Mascoma Wealth Management LLC grew its holdings in shares of NextEra Energy by 41.3% during the fourth quarter. Mascoma Wealth Management LLC now owns 643 shares of the utilities provider’s stock worth $46,000 after buying an additional 188 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Trading Down 2.0%

NEE stock opened at $69.50 on Tuesday. NextEra Energy, Inc. has a one year low of $61.72 and a one year high of $86.10. The stock has a market cap of $143.07 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 2.50 and a beta of 0.68. The company has a fifty day moving average price of $70.08 and a two-hundred day moving average price of $70.09. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.55 and a quick ratio of 0.45.

NextEra Energy (NYSE:NEE – Get Free Report) last posted its earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.99. The company had revenue of $6.25 billion during the quarter, compared to analysts’ expectations of $6.58 billion. NextEra Energy had a net margin of 21.81% and a return on equity of 12.06%. NextEra Energy’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. Equities analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Monday, June 2nd. NextEra Energy’s dividend payout ratio is presently 85.02%.

Insider Activity at NextEra Energy

In related news, EVP Charles E. Sieving sold 23,684 shares of NextEra Energy stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the completion of the sale, the executive vice president directly owned 196,817 shares of the company’s stock, valued at approximately $13,777,190. This trade represents a 10.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. UBS Group cut their target price on NextEra Energy from $94.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. Morgan Stanley cut their price objective on shares of NextEra Energy from $95.00 to $94.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 18th. Wells Fargo & Company decreased their target price on shares of NextEra Energy from $102.00 to $97.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. BMO Capital Markets lowered their price target on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Finally, Barclays cut their price target on shares of NextEra Energy from $73.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.55.

Check Out Our Latest Research Report on NextEra Energy

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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