Covenant Asset Management LLC continued to hold its stake in NextEra Energy, Inc. (NYSE:NEE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,315 shares of the utilities provider’s stock at the close of the 2nd quarter. Covenant Asset Management LLC’s holdings in NextEra Energy were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in NEE. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in NextEra Energy by 8.9% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 871 shares of the utilities provider’s stock worth $112,000 after buying an additional 71 shares in the last quarter. Baystate Wealth Management LLC boosted its holdings in NextEra Energy by 49.4% during the first quarter. Baystate Wealth Management LLC now owns 1,333 shares of the utilities provider’s stock worth $174,000 after buying an additional 441 shares in the last quarter. Ruggie Capital Group purchased a new stake in NextEra Energy during the first quarter worth $191,000. Oarsman Capital Inc. purchased a new stake in NextEra Energy during the first quarter worth $200,000. Finally, CCM Investment Advisers LLC purchased a new stake in NextEra Energy during the first quarter worth $200,000. 75.67% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of NextEra Energy from $167.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday, September 8th. J P Morgan Chase & Co began coverage on shares of NextEra Energy in a report on Thursday, September 7th. They set an “overweight” rating and a $173.00 price objective on the stock. KeyCorp reaffirmed a “buy” rating and set a $155.00 price objective on shares of NextEra Energy in a report on Friday, September 1st. Zacks Investment Research downgraded shares of NextEra Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, BidaskClub raised shares of NextEra Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $151.15.
NextEra Energy, Inc. (NYSE:NEE) traded down 0.02% during trading on Friday, hitting $149.52. 1,073,691 shares of the stock traded hands. The stock has a market cap of $70.16 billion, a P/E ratio of 17.13 and a beta of 0.33. The company’s 50 day moving average price is $148.67 and its 200-day moving average price is $139.19. NextEra Energy, Inc. has a 52-week low of $110.49 and a 52-week high of $151.60.
NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $1.86 EPS for the quarter, beating the Zacks’ consensus estimate of $1.76 by $0.10. NextEra Energy had a net margin of 24.26% and a return on equity of 11.88%. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the prior year, the company posted $1.67 EPS. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities research analysts forecast that NextEra Energy, Inc. will post $6.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.9825 per share. This represents a $3.93 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Wednesday, August 23rd. NextEra Energy’s dividend payout ratio is currently 45.02%.
In other news, Director James L. Robo sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $147.05, for a total transaction of $4,411,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.
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NextEra Energy Company Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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