OVERSEA CHINESE BANKING Corp Ltd Purchases 2,246 Shares of NextEra Energy, Inc. (NYSE:NEE)

OVERSEA CHINESE BANKING Corp Ltd increased its position in NextEra Energy, Inc. (NYSE:NEE) by 71.0% during the 1st quarter, Holdings Channel reports. The firm owned 5,410 shares of the utilities provider’s stock after acquiring an additional 2,246 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in NextEra Energy were worth $384,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bellwether Advisors LLC bought a new position in NextEra Energy in the fourth quarter worth approximately $30,000. WealthTrak Capital Management LLC bought a new position in NextEra Energy in the fourth quarter worth approximately $33,000. Copia Wealth Management bought a new position in NextEra Energy in the fourth quarter worth approximately $36,000. Hughes Financial Services LLC bought a new position in NextEra Energy in the first quarter worth approximately $40,000. Finally, Graney & King LLC bought a new position in NextEra Energy in the fourth quarter worth approximately $46,000. Institutional investors own 78.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NEE shares. Erste Group Bank cut NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. BMO Capital Markets dropped their target price on NextEra Energy from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. HSBC dropped their target price on NextEra Energy from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, July 11th. Guggenheim reaffirmed a “buy” rating and set a $89.00 target price on shares of NextEra Energy in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. dropped their target price on NextEra Energy from $86.00 to $82.00 in a research report on Thursday, July 3rd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, NextEra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.08.

NextEra Energy Stock Performance

Shares of NEE opened at $74.76 on Wednesday. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.10. The stock has a fifty day moving average price of $71.70 and a 200-day moving average price of $70.25. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.32. The firm has a market cap of $153.89 billion, a PE ratio of 28.00, a P/E/G ratio of 2.64 and a beta of 0.67.

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

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.5665 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.27 dividend on an annualized basis and a yield of 3.03%. NextEra Energy’s dividend payout ratio (DPR) is 85.02%.

Insider Transactions at NextEra Energy

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 completion of the transaction, the executive vice president owned 196,817 shares in the company, valued at $13,777,190. This trade represents a 10.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by company insiders.

NextEra Energy Company Profile

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.