Palisade Asset Management LLC Has $2.07 Million Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Palisade Asset Management LLC raised its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 9.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 29,201 shares of the utilities provider’s stock after purchasing an additional 2,535 shares during the quarter. Palisade Asset Management LLC’s holdings in NextEra Energy were worth $2,070,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bellwether Advisors LLC acquired a new stake in shares of NextEra Energy during the fourth quarter worth $30,000. WealthTrak Capital Management LLC bought a new stake in NextEra Energy during the fourth quarter valued at $33,000. Copia Wealth Management acquired a new stake in NextEra Energy during the 4th quarter worth about $36,000. Midwest Capital Advisors LLC acquired a new stake in NextEra Energy during the 4th quarter worth about $44,000. Finally, Promus Capital LLC bought a new position in shares of NextEra Energy in the 4th quarter worth about $45,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

Insider Buying and Selling at NextEra Energy

In other news, EVP Charles E. Sieving sold 23,684 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 196,817 shares of the company’s stock, valued at $13,777,190. This represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NEE has been the topic of several research analyst reports. Guggenheim restated a “buy” rating and set a $89.00 target price on shares of NextEra Energy in a research report on Thursday, March 20th. UBS Group dropped their price target on NextEra Energy from $94.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. JPMorgan Chase & Co. raised their price objective on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Morgan Stanley lowered their price objective on shares of NextEra Energy from $95.00 to $94.00 and set an “overweight” rating for the company in a research note on Wednesday, June 18th. Finally, BMO Capital Markets cut their target price on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.50.

NextEra Energy Price Performance

Shares of NEE opened at $70.82 on Tuesday. The business’s fifty day moving average is $69.63 and its 200 day moving average is $70.21. NextEra Energy, Inc. has a 12-month low of $61.72 and a 12-month high of $86.10. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.32. The stock has a market cap of $145.79 billion, a P/E ratio of 26.52, a P/E/G ratio of 2.52 and a beta of 0.68.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share for the quarter, hitting the consensus estimate of $0.99. The firm had revenue of $6.25 billion for the quarter, compared to the consensus estimate of $6.58 billion. NextEra Energy had a net margin of 21.81% and a return on equity of 12.06%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 earnings per share. Sell-side analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.5665 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.27 annualized dividend and a yield of 3.20%. NextEra Energy’s payout ratio is 85.02%.

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.