New York Life Investment Management LLC Boosts Stock Position in NextEra Energy, Inc. (NYSE:NEE)

New York Life Investment Management LLC increased its stake in NextEra Energy, Inc. (NYSE:NEE) by 1.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 322,786 shares of the utilities provider’s stock after buying an additional 5,880 shares during the period. New York Life Investment Management LLC’s holdings in NextEra Energy were worth $19,606,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NEE. BOK Financial Private Wealth Inc. purchased a new stake in shares of NextEra Energy in the 4th quarter worth approximately $29,000. Alaska Permanent Fund Corp grew its stake in shares of NextEra Energy by 59.8% in the 3rd quarter. Alaska Permanent Fund Corp now owns 556 shares of the utilities provider’s stock worth $32,000 after buying an additional 208 shares during the last quarter. Stuart Chaussee & Associates Inc. grew its stake in shares of NextEra Energy by 315.4% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock worth $33,000 after buying an additional 410 shares during the last quarter. Valued Wealth Advisors LLC purchased a new stake in shares of NextEra Energy in the 4th quarter worth approximately $34,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of NextEra Energy in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Price Performance

Shares of NextEra Energy stock opened at $68.85 on Thursday. The stock’s 50-day simple moving average is $61.49 and its 200-day simple moving average is $59.41. NextEra Energy, Inc. has a 52 week low of $47.15 and a 52 week high of $78.53. The company has a market capitalization of $141.45 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 2.47 and a beta of 0.50. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.12.

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

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.99%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, February 26th. NextEra Energy’s payout ratio is 56.13%.

Wall Street Analysts Forecast Growth

NEE has been the topic of several analyst reports. Morgan Stanley upped their price objective on NextEra Energy from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Bank of America lifted their target price on NextEra Energy from $61.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. Wells Fargo & Company lifted their target price on NextEra Energy from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. StockNews.com raised NextEra Energy from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Mizuho lifted their target price on NextEra Energy from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, NextEra Energy has an average rating of “Moderate Buy” and a consensus price target of $71.50.

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.