NorthCrest Asset Manangement LLC Acquires 1,642 Shares of NextEra Energy, Inc. (NYSE:NEE)

NorthCrest Asset Manangement LLC raised its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 3.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,295 shares of the utilities provider’s stock after acquiring an additional 1,642 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in NextEra Energy were worth $3,069,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Bellwether Advisors LLC acquired a new stake in shares of NextEra Energy in the 4th quarter valued at approximately $30,000. WealthTrak Capital Management LLC acquired a new stake in shares of NextEra Energy in the 4th quarter valued at approximately $33,000. Copia Wealth Management acquired a new stake in shares of NextEra Energy in the 4th quarter valued at approximately $36,000. Midwest Capital Advisors LLC acquired a new stake in shares of NextEra Energy in the 4th quarter valued at approximately $44,000. Finally, Promus Capital LLC acquired a new stake in shares of NextEra Energy in the 4th quarter valued at approximately $45,000. 78.72% of the stock is owned by institutional investors.

NextEra Energy Stock Up 1.2%

NEE opened at $74.70 on Friday. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.38 and a current ratio of 0.47. The company has a market capitalization of $153.78 billion, a P/E ratio of 22.17, a P/E/G ratio of 2.45 and a beta of 0.68. The stock has a fifty day moving average of $69.00 and a 200-day moving average of $70.52.

NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.99. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. The company had revenue of $6.25 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Monday, June 2nd. NextEra Energy’s payout ratio is currently 84.64%.

Insider Buying and Selling

In related news, EVP Charles E. Sieving sold 23,684 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $70.00, for a total value of $1,657,880.00. Following the transaction, the executive vice president now owns 196,817 shares in the company, valued at approximately $13,777,190. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NEE shares. BMO Capital Markets cut their price objective on NextEra Energy from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Erste Group Bank downgraded NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Morgan Stanley reaffirmed an “overweight” rating on shares of NextEra Energy in a report on Wednesday, April 23rd. Guggenheim reaffirmed a “buy” rating and set a $89.00 price target on shares of NextEra Energy in a report on Thursday, March 20th. Finally, Barclays cut their price target on NextEra Energy from $73.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, NextEra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.50.

About NextEra Energy

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,natural gas, and other clean energy. 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.