Benson Investment Management Company Inc. Has $4.88 Million Stock Position in NextEra Energy, Inc. $NEE

Benson Investment Management Company Inc. grew its position in NextEra Energy, Inc. (NYSE:NEE) by 12.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 70,305 shares of the utilities provider’s stock after buying an additional 7,865 shares during the period. Benson Investment Management Company Inc.’s holdings in NextEra Energy were worth $4,881,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Trust Co. of Toledo NA OH increased its stake in shares of NextEra Energy by 1.2% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 68,872 shares of the utilities provider’s stock valued at $4,781,000 after buying an additional 791 shares during the period. Drucker Wealth 3.0 LLC increased its stake in shares of NextEra Energy by 234.1% in the 2nd quarter. Drucker Wealth 3.0 LLC now owns 21,552 shares of the utilities provider’s stock valued at $1,587,000 after buying an additional 15,102 shares during the period. Aberdeen Group plc increased its stake in shares of NextEra Energy by 7.9% in the 2nd quarter. Aberdeen Group plc now owns 2,522,547 shares of the utilities provider’s stock valued at $175,115,000 after buying an additional 184,250 shares during the period. Forefront Analytics LLC acquired a new stake in shares of NextEra Energy in the 2nd quarter valued at $1,167,000. Finally, First Fiduciary Investment Counsel Inc. increased its stake in shares of NextEra Energy by 0.5% in the 2nd quarter. First Fiduciary Investment Counsel Inc. now owns 147,373 shares of the utilities provider’s stock valued at $10,231,000 after buying an additional 684 shares during the period. 78.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NEE. Evercore ISI set a $92.00 target price on NextEra Energy and gave the company an “outperform” rating in a research note on Monday. Melius Research raised NextEra Energy to a “strong-buy” rating in a research note on Wednesday, August 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of NextEra Energy in a report on Saturday, September 27th. Melius initiated coverage on NextEra Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $77.00 price objective for the company. Finally, BMO Capital Markets upped their price objective on NextEra Energy from $77.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.08.

Insider Transactions at NextEra Energy

In other NextEra Energy news, EVP Michael Dunne sold 10,000 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $70.79, for a total value of $707,900.00. Following the completion of the transaction, the executive vice president directly owned 62,064 shares of the company’s stock, valued at approximately $4,393,510.56. The trade was a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles E. Sieving sold 11,336 shares of the business’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $80.00, for a total value of $906,880.00. Following the completion of the transaction, the executive vice president directly owned 167,481 shares of the company’s stock, valued at approximately $13,398,480. The trade was a 6.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,705 shares of company stock valued at $2,446,490. Insiders own 0.20% of the company’s stock.

NextEra Energy Stock Down 0.5%

NYSE:NEE opened at $83.30 on Friday. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $86.00. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. The stock has a market cap of $171.54 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 2.88 and a beta of 0.66. The stock has a 50-day moving average price of $74.20 and a two-hundred day moving average price of $71.73.

NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. During the same period in the previous year, the firm earned $0.96 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis. As a group, equities analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 28th were paid a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 28th. NextEra Energy’s payout ratio is presently 79.37%.

NextEra Energy 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.