SCS Capital Management LLC Makes New $1.32 Million Investment in NextEra Energy, Inc. $NEE

SCS Capital Management LLC purchased a new position in shares of NextEra Energy, Inc. (NYSE:NEE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,677 shares of the utilities provider’s stock, valued at approximately $1,324,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. 1 North Wealth Services LLC purchased a new stake in NextEra Energy during the first quarter worth about $26,000. IMA Advisory Services Inc. purchased a new stake in shares of NextEra Energy during the first quarter worth approximately $35,000. Copia Wealth Management purchased a new stake in shares of NextEra Energy during the fourth quarter worth approximately $36,000. Semmax Financial Advisors Inc. increased its stake in shares of NextEra Energy by 335.0% during the first quarter. Semmax Financial Advisors Inc. now owns 509 shares of the utilities provider’s stock worth $36,000 after buying an additional 392 shares during the period. Finally, CBIZ Investment Advisory Services LLC increased its stake in shares of NextEra Energy by 237.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider’s stock worth $37,000 after buying an additional 366 shares during the period. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Stock Performance

Shares of NEE opened at $71.04 on Thursday. The stock has a 50 day moving average price of $73.18 and a 200 day moving average price of $71.05. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $146.30 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 2.41 and a beta of 0.65. NextEra Energy, Inc. has a 52-week low of $61.72 and a 52-week high of $86.10.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same period in the prior year, the company posted $0.96 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Research analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, August 28th will be given a dividend of $0.5665 per share. The ex-dividend date is Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.2%. NextEra Energy’s payout ratio is 79.37%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NEE. Melius began coverage on shares of NextEra Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $77.00 target price on the stock. HSBC cut their target price on shares of NextEra Energy from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Friday, July 11th. BMO Capital Markets upped their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. UBS Group cut their target price on shares of NextEra Energy from $94.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of NextEra Energy from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, NextEra Energy currently has an average rating of “Moderate Buy” and an average price target of $84.00.

Insider Transactions at NextEra Energy

In other news, Treasurer James Michael May sold 2,177 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total transaction of $168,717.50. Following the transaction, the treasurer directly owned 27,662 shares in the company, valued at approximately $2,143,805. This trade represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robert Coffey sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $71.84, for a total transaction of $538,800.00. Following the transaction, the executive vice president owned 26,539 shares in the company, valued at approximately $1,906,561.76. This trade represents a 22.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,677 shares of company stock worth $1,415,418. Corporate insiders own 0.20% of the company’s stock.

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.