Sumitomo Mitsui Trust Group Inc. Purchases 89,586 Shares of NextEra Energy, Inc. $NEE

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,953,009 shares of the utilities provider’s stock after purchasing an additional 89,586 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of NextEra Energy worth $373,903,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NEE. Activest Wealth Management boosted its stake in shares of NextEra Energy by 79.7% during the 2nd quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 157 shares during the last quarter. Harbor Asset Planning Inc. bought a new position in NextEra Energy in the 2nd quarter worth $25,000. Goodman Advisory Group LLC purchased a new position in NextEra Energy during the second quarter valued at $25,000. Tripletail Wealth Management LLC bought a new stake in NextEra Energy during the third quarter valued at about $25,000. Finally, Quaker Wealth Management LLC increased its position in NextEra Energy by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 386 shares of the utilities provider’s stock worth $27,000 after buying an additional 772 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Insider Activity at NextEra Energy

In other news, CEO Armando Pimentel, Jr. sold 145,140 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $83.91, for a total transaction of $12,178,697.40. Following the transaction, the chief executive officer owned 162,693 shares of the company’s stock, valued at approximately $13,651,569.63. The trade was a 47.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NEE. Argus set a $90.00 price objective on NextEra Energy in a research report on Wednesday, October 29th. Cowen assumed coverage on shares of NextEra Energy in a report on Wednesday, October 15th. They set a “buy” rating on the stock. Morgan Stanley reduced their price objective on shares of NextEra Energy from $98.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, November 20th. JPMorgan Chase & Co. raised their price objective on shares of NextEra Energy from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, December 11th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $88.00 target price (up previously from $85.00) on shares of NextEra Energy in a report on Wednesday, December 31st. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.72.

NextEra Energy Price Performance

NEE stock opened at $79.92 on Monday. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $87.53. The firm has a market capitalization of $166.43 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 2.48 and a beta of 0.74. The company has a fifty day simple moving average of $82.33 and a two-hundred day simple moving average of $77.90. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.30.

NextEra Energy (NYSE:NEE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. NextEra Energy had a net margin of 24.72% and a return on equity of 12.42%. The firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same period in the previous year, the firm posted $1.03 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 21st were paid a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, November 21st. NextEra Energy’s dividend payout ratio (DPR) is presently 72.29%.

NextEra Energy Profile

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.