Covington Investment Advisors Inc. Acquires 280 Shares of NextEra Energy, Inc. (NYSE:NEE)

Covington Investment Advisors Inc. increased its holdings in NextEra Energy, Inc. (NYSE:NEE) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,205 shares of the utilities provider’s stock after buying an additional 280 shares during the quarter. Covington Investment Advisors Inc.’s holdings in NextEra Energy were worth $4,920,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NEE. International Assets Investment Management LLC increased its stake in shares of NextEra Energy by 8,641.5% in the 3rd quarter. International Assets Investment Management LLC now owns 3,861,208 shares of the utilities provider’s stock worth $326,388,000 after purchasing an additional 3,817,037 shares in the last quarter. Zimmer Partners LP grew its holdings in NextEra Energy by 8,447.5% during the first quarter. Zimmer Partners LP now owns 2,735,200 shares of the utilities provider’s stock valued at $174,807,000 after purchasing an additional 2,703,200 shares during the period. Assenagon Asset Management S.A. increased its position in NextEra Energy by 4,058.2% in the third quarter. Assenagon Asset Management S.A. now owns 2,366,795 shares of the utilities provider’s stock worth $200,065,000 after buying an additional 2,309,876 shares in the last quarter. Raymond James & Associates raised its stake in shares of NextEra Energy by 57.0% in the second quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock worth $421,831,000 after buying an additional 2,163,437 shares during the period. Finally, LGT Group Foundation lifted its position in shares of NextEra Energy by 962.8% during the 2nd quarter. LGT Group Foundation now owns 1,514,482 shares of the utilities provider’s stock valued at $107,240,000 after buying an additional 1,371,982 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Stock Performance

NYSE NEE opened at $76.64 on Tuesday. The business has a 50 day simple moving average of $80.74 and a two-hundred day simple moving average of $77.76. NextEra Energy, Inc. has a 1-year low of $53.95 and a 1-year high of $86.10. The stock has a market capitalization of $157.60 billion, a PE ratio of 22.67, a P/E/G ratio of 2.75 and a beta of 0.57. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The company had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $8.11 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts predict that NextEra Energy, Inc. will post 3.41 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently disclosed 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. This represents a $2.06 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s dividend payout ratio (DPR) is currently 60.95%.

Analyst Ratings Changes

Several research firms recently issued reports on NEE. Scotiabank increased their target price on shares of NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of NextEra Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $87.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on shares of NextEra Energy from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Bank of America raised their price target on NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company boosted their price objective on NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $86.85.

Insider Transactions at NextEra Energy

In related news, EVP Nicole J. Daggs sold 4,007 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $75.57, for a total value of $302,808.99. Following the completion of the sale, the executive vice president now owns 15,792 shares in the company, valued at approximately $1,193,401.44. The trade was a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

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.