503,764 Shares in NextEra Energy, Inc. (NYSE:NEE) Purchased by OFI Invest Asset Management

OFI Invest Asset Management acquired a new position in NextEra Energy, Inc. (NYSE:NEE) in the 4th quarter, HoldingsChannel reports. The fund acquired 503,764 shares of the utilities provider’s stock, valued at approximately $34,877,000.

A number of other hedge funds have also recently modified their holdings of the business. Second Line Capital LLC increased its stake in NextEra Energy by 4.7% in the third quarter. Second Line Capital LLC now owns 3,097 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 139 shares during the period. Drive Wealth Management LLC grew its holdings in shares of NextEra Energy by 2.8% in the third quarter. Drive Wealth Management LLC now owns 5,332 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 145 shares during the last quarter. Accel Wealth Management lifted its holdings in NextEra Energy by 1.7% during the 4th quarter. Accel Wealth Management now owns 8,615 shares of the utilities provider’s stock valued at $618,000 after buying an additional 145 shares in the last quarter. L.M. Kohn & Company lifted its holdings in NextEra Energy by 1.0% during the 4th quarter. L.M. Kohn & Company now owns 15,353 shares of the utilities provider’s stock valued at $1,101,000 after buying an additional 145 shares in the last quarter. Finally, 1ST Source Bank boosted its position in NextEra Energy by 0.4% in the 3rd quarter. 1ST Source Bank now owns 34,178 shares of the utilities provider’s stock valued at $2,889,000 after buying an additional 147 shares during the period. Institutional investors own 78.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley raised their target price 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. BMO Capital Markets raised their price objective on NextEra Energy from $82.00 to $84.00 in a report on Monday, January 27th. Scotiabank lifted their target price on NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Evercore ISI dropped their price target on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. decreased their price objective on NextEra Energy from $99.00 to $90.00 in a report on Monday, January 27th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $85.85.

NextEra Energy Stock Performance

Shares of NEE stock opened at $72.86 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20. The company has a market cap of $149.88 billion, a PE ratio of 21.62, a PEG ratio of 2.45 and a beta of 0.58. NextEra Energy, Inc. has a 12-month low of $56.31 and a 12-month high of $86.10. The business’s fifty day simple moving average is $70.30 and its 200-day simple moving average is $76.05.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share 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%. Analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. NextEra Energy’s payout ratio is presently 67.06%.

Insider Activity

In related news, CAO James Michael May sold 2,383 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total value of $162,258.47. Following the transaction, the chief accounting officer now owns 27,427 shares in the company, valued at approximately $1,867,504.43. This represents a 7.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

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.