NextEra Energy, Inc. $NEE Stake Increased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 29.8% in the third quarter, Holdings Channel reports. The firm owned 50,803 shares of the utilities provider’s stock after acquiring an additional 11,662 shares during the period. Illinois Municipal Retirement Fund’s holdings in NextEra Energy were worth $3,848,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NEE. Kilter Group LLC purchased a new stake in NextEra Energy during the second quarter worth approximately $25,000. Manning & Napier Advisors LLC acquired a new stake in shares of NextEra Energy in the second quarter worth $26,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of NextEra Energy in the second quarter worth $26,000. Financial Network Wealth Advisors LLC raised its stake in shares of NextEra Energy by 83.0% in the 2nd quarter. Financial Network Wealth Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 156 shares during the period. Finally, Axiom Investment Management LLC purchased a new position in shares of NextEra Energy in the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Down 0.1%

NYSE:NEE traded down $0.12 during trading hours on Friday, hitting $85.17. The stock had a trading volume of 11,746,017 shares, compared to its average volume of 13,410,945. The company has a current ratio of 0.53, a quick ratio of 0.45 and a debt-to-equity ratio of 1.33. NextEra Energy, Inc. has a 1-year low of $74.41 and a 1-year high of $98.75. The business has a 50 day simple moving average of $80.81 and a two-hundred day simple moving average of $87.29. The company has a market cap of $178.62 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 2.64 and a beta of 0.60.

NextEra Energy (NYSE:NEE) last announced its earnings results on Wednesday, October 21st. The utilities provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. NextEra Energy had a return on equity of 12.27% and a net margin of 40.37%. The business had revenue of $8.09 billion for the quarter, compared to analyst estimates of $8.47 billion. During the same period in the previous year, the company earned $1.13 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts predict that NextEra Energy, Inc. will post 4.01 EPS for the current year.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 27th will be paid a dividend of $0.6232 per share. The ex-dividend date is Friday, November 27th. This represents a $2.49 annualized dividend and a yield of 2.9%. NextEra Energy’s dividend payout ratio is presently 44.86%.

Wall Street Analyst Weigh In

NEE has been the topic of several recent research reports. Wells Fargo & Company upgraded shares of NextEra Energy to a “strong-buy” rating in a report on Monday, October 12th. BMO Capital Markets set a $88.00 price target on shares of NextEra Energy and gave the stock an “outperform” rating in a research report on Tuesday, October 20th. Piper Sandler set a $88.00 price target on NextEra Energy in a report on Tuesday, October 20th. Mizuho cut their price objective on NextEra Energy from $95.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 6th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $108.00 price objective on shares of NextEra Energy in a research report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $97.80.

NextEra Energy Company Profile

NextEra Energy, Inc. is an energy company whose businesses include Florida Power & Light Company (FPL), a regulated electric utility, and NextEra Energy Resources, a developer and operator of energy infrastructure. FPL generates, transmits and distributes electricity to customers across Florida. NextEra Energy Resources develops and operates projects in North America, including wind and solar generation, battery storage, and natural gas and nuclear facilities. The company also invests in transmission infrastructure and provides energy-related services.