Payden & Rygel Raises Stake in NextEra Energy, Inc. (NYSE:NEE)

Payden & Rygel increased its stake in NextEra Energy, Inc. (NYSE:NEEGet Rating) by 0.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 401,600 shares of the utilities provider’s stock after buying an additional 1,000 shares during the period. NextEra Energy comprises 1.7% of Payden & Rygel’s investment portfolio, making the stock its 20th biggest holding. Payden & Rygel’s holdings in NextEra Energy were worth $34,020,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NEE. Jackson Wealth Management LLC boosted its holdings in shares of NextEra Energy by 275.6% in the 3rd quarter. Jackson Wealth Management LLC now owns 71,561 shares of the utilities provider’s stock worth $28,000 after buying an additional 52,510 shares during the last quarter. Contravisory Investment Management Inc. boosted its holdings in shares of NextEra Energy by 295.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 348 shares of the utilities provider’s stock worth $29,000 after buying an additional 260 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of NextEra Energy in the 4th quarter worth about $31,000. Comprehensive Financial Consultants Institutional Inc. purchased a new position in shares of NextEra Energy in the 4th quarter worth about $34,000. Finally, Guardian Wealth Management Inc. purchased a new position in shares of NextEra Energy in the 4th quarter worth about $43,000. 77.89% of the stock is currently owned by institutional investors.

Shares of NEE traded up $1.57 during midday trading on Thursday, hitting $76.26. 77,104 shares of the company traded hands, compared to its average volume of 10,073,438. The stock has a 50-day moving average of $74.38 and a 200-day moving average of $79.98. NextEra Energy, Inc. has a one year low of $67.22 and a one year high of $93.73. The firm has a market cap of $149.81 billion, a P/E ratio of 100.93, a PEG ratio of 2.79 and a beta of 0.48. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.49 and a quick ratio of 0.42.

NextEra Energy (NYSE:NEEGet Rating) last posted its quarterly earnings data on Thursday, April 21st. The utilities provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $5.16 billion. NextEra Energy had a net margin of 8.97% and a return on equity of 11.49%. During the same period in the prior year, the business earned $0.67 earnings per share. Sell-side analysts forecast that NextEra Energy, Inc. will post 2.84 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st were given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, May 27th. NextEra Energy’s dividend payout ratio (DPR) is 229.73%.

NEE has been the topic of several recent research reports. StockNews.com initiated coverage on shares of NextEra Energy in a report on Thursday, March 31st. They set a “hold” rating on the stock. TheStreet downgraded shares of NextEra Energy from a “b” rating to a “c+” rating in a report on Thursday, April 21st. BMO Capital Markets dropped their price objective on shares of NextEra Energy from $105.00 to $93.00 in a report on Monday, June 13th. KeyCorp upped their price objective on shares of NextEra Energy from $87.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, April 7th. Finally, Credit Suisse Group set a $76.00 price objective on shares of NextEra Energy in a report on Monday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.86.

In related news, Director Kirk S. Hachigian acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were bought at an average cost of $70.19 per share, for a total transaction of $701,900.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $350,950. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by corporate insiders.

NextEra Energy Company Profile (Get Rating)

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, coal, and natural gas facilities. 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.

Further Reading

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Institutional Ownership by Quarter for NextEra Energy (NYSE:NEE)

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