Renaissance Investment Group LLC Grows Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Renaissance Investment Group LLC lifted its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 5.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 96,665 shares of the utilities provider’s stock after acquiring an additional 5,021 shares during the period. Renaissance Investment Group LLC’s holdings in NextEra Energy were worth $6,930,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Reston Wealth Management LLC purchased a new stake in NextEra Energy during the 3rd quarter worth approximately $27,000. Semmax Financial Advisors Inc. lifted its stake in shares of NextEra Energy by 197.4% during the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock worth $26,000 after buying an additional 225 shares during the period. Burkett Financial Services LLC grew its holdings in shares of NextEra Energy by 1,229.6% during the fourth quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock valued at $26,000 after buying an additional 332 shares during the last quarter. Quarry LP acquired a new position in shares of NextEra Energy in the 3rd quarter valued at $33,000. Finally, Maryland Capital Advisors Inc. purchased a new position in NextEra Energy in the 3rd quarter worth $39,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Price Performance

Shares of NextEra Energy stock opened at $70.83 on Friday. The firm has a market cap of $145.66 billion, a PE ratio of 20.96, a P/E/G ratio of 2.26 and a beta of 0.58. The business has a 50-day moving average price of $73.50 and a 200 day moving average price of $77.17. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.11. NextEra Energy, Inc. has a twelve month low of $53.95 and a twelve month high of $86.10.

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

Analyst Upgrades and Downgrades

NEE has been the topic of several research analyst reports. Royal Bank of Canada downgraded NextEra Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. BMO Capital Markets upped their target price on NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Scotiabank raised their price target on shares of NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Barclays upped their price objective on shares of NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, Guggenheim raised their target price on shares of NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $87.15.

Insider Activity

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,007 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 15,792 shares of the company’s stock, valued at $1,193,401.44. This represents a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

NextEra Energy Company 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.