StoneRidge PMG Advisors LLC Buys 6,240 Shares of NextEra Energy, Inc. $NEE

StoneRidge PMG Advisors LLC bought a new stake in shares of NextEra Energy, Inc. (NYSE:NEE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,240 shares of the utilities provider’s stock, valued at approximately $473,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kilter Group LLC acquired a new stake in NextEra Energy during the 2nd quarter worth about $25,000. Manning & Napier Advisors LLC acquired a new position in shares of NextEra Energy in the second quarter worth about $26,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of NextEra Energy in the second quarter worth about $26,000. Financial Network Wealth Advisors LLC boosted its holdings in shares of NextEra Energy by 83.0% in the second quarter. Financial Network Wealth Advisors LLC now owns 344 shares of the utilities provider’s stock worth $30,000 after buying an additional 156 shares during the period. Finally, Axiom Investment Management LLC purchased a new position in shares of NextEra Energy in the first quarter worth approximately $32,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

Key Stories Impacting NextEra Energy

Here are the key news stories impacting NextEra Energy this week:

• Positive Sentiment: Clean-energy stocks rallied after Democrats won control of Congress, and the article says NextEra captured the rally. Its battery development and ability to supply power to data centers may help it benefit from rising electricity demand. NextEra Energy Vs. AES Corporation: Utility Scale Energy Production Just Got a Major Blue Boost
• Positive Sentiment: A Virginia Chamber of Commerce-commissioned study says the proposed Dominion merger could bring thousands of jobs to Virginia, adding an economic-benefit argument in support of the deal. Virginia Chamber of Commerce promotes study touting Dominion merger benefits
• Neutral Sentiment: NextEra said senior management will participate in the EEI Financial Conference Nov. 8–10. The announcement does not identify new financial guidance or a specific business update. NextEra Energy to participate in EEI Financial Conference
• Neutral Sentiment: Another report describes the Virginia merger review as advancing with safeguards, but the available headline does not detail the terms or indicate whether approval is assured. NextEra Energy stock gains safeguards as Virginia merger review advances
• Negative Sentiment: Faith leaders and community advocates urged Virginia regulators to reject NextEra’s proposed $67 billion acquisition of Dominion, highlighting opposition and continued regulatory risk around the transaction. Faith Leaders Urge SCC to Reject Dominion-NextEra Merger

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of NextEra Energy to a “strong-buy” rating in a report on Monday, October 12th. Bank of America decreased their price objective on shares of NextEra Energy from $95.00 to $93.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. Scotiabank lowered their price objective on shares of NextEra Energy from $110.00 to $99.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 30th. Barclays lowered their price objective on shares of NextEra Energy from $84.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Friday, October 23rd. Finally, Seaport Research Partners restated a “sell” rating and issued a $56.00 target price (up from $55.00) on shares of NextEra Energy in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.80.

NextEra Energy Price Performance

Shares of NEE opened at $86.92 on Monday. The company has a market capitalization of $182.30 billion, a price-to-earnings ratio of 15.66, a P/E/G ratio of 2.69 and a beta of 0.60. NextEra Energy, Inc. has a fifty-two week low of $74.41 and a fifty-two week high of $98.75. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.53 and a quick ratio of 0.45. The business’s 50-day moving average is $80.50 and its 200-day moving average is $87.27.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, October 21st. The utilities provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $8.09 billion during the quarter, compared to analyst estimates of $8.47 billion. NextEra Energy had a net margin of 40.37% and a return on equity of 12.27%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 earnings per share. Equities research analysts expect that NextEra Energy, Inc. will post 4.01 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 27th will be paid a $0.6232 dividend. This represents a $2.49 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, November 27th. NextEra Energy’s dividend payout ratio is currently 44.86%.

About NextEra Energy

NextEra Energy, Inc is an energy company whose businesses include Florida Power & Light Company (FPL), a regulated electric utility, and NextEra Energy Resources, a developer and operator of energy infrastructure. FPL generates, transmits and distributes electricity to customers across Florida.

NextEra Energy Resources develops and operates projects in North America, including wind and solar generation, battery storage, and natural gas and nuclear facilities. The company also invests in transmission infrastructure and provides energy-related services.

The company traces its roots to 1925, when Florida Power & Light was established.