Spirit of America Management Corp NY Grows Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Spirit of America Management Corp NY boosted its stake in NextEra Energy, Inc. (NYSE:NEE) by 9.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 42,375 shares of the utilities provider’s stock after purchasing an additional 3,750 shares during the period. Spirit of America Management Corp NY’s holdings in NextEra Energy were worth $3,582,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its holdings in NextEra Energy by 0.7% in the 2nd quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock valued at $1,508,155,000 after purchasing an additional 143,748 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in NextEra Energy by 9.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,178,185 shares of the utilities provider’s stock valued at $579,097,000 after purchasing an additional 691,341 shares during the last quarter. Nordea Investment Management AB increased its holdings in NextEra Energy by 22.3% in the 1st quarter. Nordea Investment Management AB now owns 6,961,556 shares of the utilities provider’s stock valued at $443,834,000 after purchasing an additional 1,268,900 shares during the last quarter. Raymond James & Associates increased its holdings in NextEra Energy by 14.3% in the 3rd quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock valued at $575,573,000 after purchasing an additional 851,873 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in NextEra Energy by 7.2% in the 2nd quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider’s stock valued at $431,966,000 after purchasing an additional 409,708 shares during the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

Insider Activity at NextEra Energy

In related news, EVP Nicole J. Daggs sold 658 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.97, for a total value of $50,646.26. Following the completion of the sale, the executive vice president now directly owns 100 shares of the company’s stock, valued at $7,697. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

NextEra Energy Price Performance

NextEra Energy stock opened at $82.82 on Friday. NextEra Energy, Inc. has a 12-month low of $53.81 and a 12-month high of $86.10. The stock has a market cap of $170.16 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 2.92 and a beta of 0.56. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15. The company has a fifty day simple moving average of $82.19 and a 200-day simple moving average of $75.96.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The firm had revenue of $7.57 billion during the quarter, compared to analysts’ expectations of $8.11 billion. During the same period in the previous year, the company earned $0.94 earnings per share. NextEra Energy’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts expect that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be given a $0.515 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a yield of 2.49%. NextEra Energy’s dividend payout ratio (DPR) is presently 56.13%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Citigroup lifted their target price on shares of NextEra Energy from $69.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Bank of America boosted their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley boosted their price target on shares of NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Dbs Bank downgraded shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, Guggenheim boosted their price target on shares of NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $86.38.

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.