Lake Street Advisors Group LLC Grows Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Lake Street Advisors Group LLC boosted its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 90.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,660 shares of the utilities provider’s stock after buying an additional 12,681 shares during the quarter. Lake Street Advisors Group LLC’s holdings in NextEra Energy were worth $1,704,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in NextEra Energy in the 4th quarter worth $2,561,055,000. M&G Plc bought a new stake in NextEra Energy during the 1st quarter worth approximately $303,065,000. State of Michigan Retirement System boosted its position in shares of NextEra Energy by 400.7% in the first quarter. State of Michigan Retirement System now owns 2,812,198 shares of the utilities provider’s stock worth $179,728,000 after purchasing an additional 2,250,500 shares during the period. International Assets Investment Management LLC increased its stake in shares of NextEra Energy by 7,999.6% in the fourth quarter. International Assets Investment Management LLC now owns 2,173,459 shares of the utilities provider’s stock worth $132,016,000 after purchasing an additional 2,146,625 shares in the last quarter. Finally, Capital World Investors bought a new stake in shares of NextEra Energy during the 4th quarter valued at $114,953,000. 78.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Citigroup upped their target price on shares of NextEra Energy from $69.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Wells Fargo & Company reissued an “overweight” rating and set a $95.00 target price on shares of NextEra Energy in a research note on Wednesday, June 12th. Barclays lowered their price target on NextEra Energy from $73.00 to $72.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. StockNews.com raised shares of NextEra Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Scotiabank boosted their target price on shares of NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, NextEra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $77.79.

NextEra Energy Price Performance

Shares of NYSE NEE traded up $3.31 during mid-day trading on Wednesday, hitting $75.42. 17,811,923 shares of the company’s stock traded hands, compared to its average volume of 11,740,318. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.51 and a quick ratio of 0.43. NextEra Energy, Inc. has a 1 year low of $47.15 and a 1 year high of $80.47. The company’s 50-day moving average is $74.00 and its two-hundred day moving average is $65.92. The company has a market capitalization of $154.95 billion, a P/E ratio of 20.55, a PEG ratio of 2.50 and a beta of 0.54.

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

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Monday, June 3rd. NextEra Energy’s dividend payout ratio is currently 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.