Garrison Point Advisors LLC Lowers Stake in NextEra Energy, Inc. (NYSE:NEE)

Garrison Point Advisors LLC lessened its stake in NextEra Energy, Inc. (NYSE:NEE) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,478 shares of the utilities provider’s stock after selling 1,198 shares during the period. NextEra Energy accounts for about 1.4% of Garrison Point Advisors LLC’s portfolio, making the stock its 16th largest position. Garrison Point Advisors LLC’s holdings in NextEra Energy were worth $2,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of NextEra Energy during the 4th quarter worth $2,561,055,000. M&G Plc purchased a new stake in NextEra Energy in the first quarter worth about $303,065,000. Zimmer Partners LP lifted its stake in NextEra Energy by 8,447.5% in the first quarter. Zimmer Partners LP now owns 2,735,200 shares of the utilities provider’s stock worth $174,807,000 after acquiring an additional 2,703,200 shares during the period. State of Michigan Retirement System grew its holdings in NextEra Energy by 400.7% during the 1st quarter. State of Michigan Retirement System now owns 2,812,198 shares of the utilities provider’s stock worth $179,728,000 after acquiring an additional 2,250,500 shares in the last quarter. Finally, Raymond James & Associates increased its position in NextEra Energy by 57.0% during the 2nd quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock valued at $421,831,000 after purchasing an additional 2,163,437 shares during the period. Institutional investors own 78.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NEE. JPMorgan Chase & Co. increased their price objective on shares of NextEra Energy from $91.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Bank of America increased their target price on NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Barclays boosted their price target on NextEra Energy from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Friday, August 16th. Citigroup raised their price objective on NextEra Energy from $69.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Royal Bank of Canada increased their price target on shares of NextEra Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, NextEra Energy has a consensus rating of “Moderate Buy” and an average price target of $81.50.

Insider Activity

In related news, EVP Nicole J. Daggs sold 658 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.97, for a total transaction of $50,646.26. Following the completion of the transaction, the executive vice president now owns 100 shares of the company’s stock, valued at $7,697. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

NextEra Energy Price Performance

Shares of NEE opened at $82.30 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.49 and a quick ratio of 0.41. The company’s fifty day moving average price is $76.59 and its 200-day moving average price is $70.84. NextEra Energy, Inc. has a 1-year low of $47.15 and a 1-year high of $82.39. The firm has a market capitalization of $169.16 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 2.90 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The company had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $7.29 billion. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. During the same quarter in the previous year, the firm posted $0.88 EPS. On average, equities research analysts predict that NextEra Energy, Inc. will post 3.39 EPS for the current year.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Friday, August 30th. NextEra Energy’s dividend payout ratio is presently 56.13%.

NextEra Energy Profile

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.