Synergy Investment Management LLC Takes Position in NextEra Energy, Inc. (NYSE:NEE)

Synergy Investment Management LLC acquired a new stake in shares of NextEra Energy, Inc. (NYSE:NEE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 848 shares of the utilities provider’s stock, valued at approximately $61,000.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in NextEra Energy by 2.0% during the third quarter. Geode Capital Management LLC now owns 42,418,748 shares of the utilities provider’s stock valued at $3,571,650,000 after buying an additional 820,704 shares during the period. Bank of New York Mellon Corp grew its position in NextEra Energy by 4.2% during the fourth quarter. Bank of New York Mellon Corp now owns 14,523,786 shares of the utilities provider’s stock valued at $1,041,210,000 after buying an additional 588,038 shares during the period. Charles Schwab Investment Management Inc. grew its position in NextEra Energy by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,630,784 shares of the utilities provider’s stock valued at $977,191,000 after buying an additional 345,999 shares during the period. Nordea Investment Management AB grew its position in NextEra Energy by 20.9% during the fourth quarter. Nordea Investment Management AB now owns 8,833,725 shares of the utilities provider’s stock valued at $634,703,000 after buying an additional 1,525,436 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in NextEra Energy by 5.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,630,775 shares of the utilities provider’s stock valued at $729,559,000 after buying an additional 452,590 shares during the period. 78.72% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Stock Performance

NEE opened at $70.85 on Wednesday. NextEra Energy, Inc. has a fifty-two week low of $54.95 and a fifty-two week high of $86.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.38 and a current ratio of 0.47. The company has a fifty day moving average of $70.38 and a 200 day moving average of $76.20. The stock has a market capitalization of $145.74 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 2.45 and a beta of 0.58.

NextEra Energy (NYSE:NEE) last posted its earnings results on Friday, January 24th. The utilities provider reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. As a group, sell-side analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $0.5665 dividend. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Friday, February 28th. NextEra Energy’s payout ratio is currently 67.06%.

Insider Buying and Selling

In related news, CAO James Michael May sold 2,383 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total value of $162,258.47. Following the sale, the chief accounting officer now directly owns 27,427 shares in the company, valued at approximately $1,867,504.43. The trade was a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NEE has been the subject of several recent research reports. Evercore ISI cut their target price on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a research report on Monday, January 27th. Jefferies Financial Group cut their target price on shares of NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. BMO Capital Markets boosted their target price on shares of NextEra Energy from $82.00 to $84.00 in a research report on Monday, January 27th. Scotiabank upped their price target on shares of NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Finally, Morgan Stanley upped their price target on shares of NextEra Energy from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, NextEra Energy currently has a consensus rating of “Hold” and an average price target of $85.85.

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.