Cornerstone Capital Management Holdings LLC. boosted its holdings in NextEra Energy Inc (NYSE:NEE) by 7.3% in the fourth quarter, HoldingsChannel reports. The firm owned 164,322 shares of the utilities provider’s stock after purchasing an additional 11,193 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in NextEra Energy were worth $25,664,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of NextEra Energy by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 4,869,190 shares of the utilities provider’s stock valued at $758,889,000 after acquiring an additional 73,790 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of NextEra Energy by 6.5% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,968,016 shares of the utilities provider’s stock valued at $619,764,000 after acquiring an additional 243,649 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of NextEra Energy by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 3,907,505 shares of the utilities provider’s stock valued at $610,314,000 after acquiring an additional 41,226 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of NextEra Energy by 2.8% during the third quarter. Legal & General Group Plc now owns 2,772,914 shares of the utilities provider’s stock valued at $406,375,000 after acquiring an additional 76,379 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of NextEra Energy by 1.0% during the fourth quarter. Alliancebernstein L.P. now owns 2,664,040 shares of the utilities provider’s stock valued at $416,096,000 after acquiring an additional 26,147 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.
Shares of NextEra Energy Inc (NYSE NEE) opened at $154.67 on Wednesday. NextEra Energy Inc has a 1-year low of $127.09 and a 1-year high of $159.64. The stock has a market capitalization of $72,685.88, a price-to-earnings ratio of 13.58, a P/E/G ratio of 2.54 and a beta of 0.32. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 1.07.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be issued a dividend of $1.11 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $4.44 annualized dividend and a yield of 2.87%. This is an increase from NextEra Energy’s previous quarterly dividend of $0.98. NextEra Energy’s dividend payout ratio is 38.98%.
In related news, EVP Charles E. Sieving sold 2,844 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $154.67, for a total transaction of $439,881.48. Following the completion of the sale, the executive vice president now owns 48,966 shares in the company, valued at $7,573,571.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Armando Pimentel, Jr. sold 9,250 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $151.83, for a total value of $1,404,427.50. The disclosure for this sale can be found here. Insiders have sold 25,984 shares of company stock valued at $4,006,149 in the last quarter. 0.53% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently commented on NEE shares. Morgan Stanley boosted their price objective on NextEra Energy from $173.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Zacks Investment Research upgraded NextEra Energy from a “hold” rating to a “buy” rating and set a $178.00 price objective for the company in a report on Tuesday, December 12th. Argus restated a “buy” rating and set a $173.00 price objective on shares of NextEra Energy in a report on Tuesday, December 5th. They noted that the move was a valuation call. Guggenheim restated a “buy” rating and set a $177.00 price objective on shares of NextEra Energy in a report on Wednesday, January 3rd. Finally, Credit Suisse Group started coverage on NextEra Energy in a report on Thursday, December 7th. They set an “outperform” rating and a $173.00 price objective for the company. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $161.75.
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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