Sycomore Asset Management Grows Stock Holdings in NextEra Energy, Inc. (NYSE:NEE)

Sycomore Asset Management raised its stake in NextEra Energy, Inc. (NYSE:NEE) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,341 shares of the utilities provider’s stock after buying an additional 131 shares during the period. Sycomore Asset Management’s holdings in NextEra Energy were worth $3,473,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. M&G Plc acquired a new position in NextEra Energy during the first quarter worth $303,065,000. Zimmer Partners LP boosted its position in shares of NextEra Energy by 8,447.5% in the 1st quarter. Zimmer Partners LP now owns 2,735,200 shares of the utilities provider’s stock worth $174,807,000 after buying an additional 2,703,200 shares in the last quarter. State of Michigan Retirement System grew its stake in NextEra Energy by 400.7% in the 1st quarter. State of Michigan Retirement System now owns 2,812,198 shares of the utilities provider’s stock valued at $179,728,000 after acquiring an additional 2,250,500 shares during the last quarter. Raymond James & Associates increased its holdings in NextEra Energy by 57.0% during the 2nd quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock valued at $421,831,000 after acquiring an additional 2,163,437 shares in the last quarter. Finally, Capital World Investors acquired a new position in NextEra Energy during the fourth quarter worth about $114,953,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Stock Performance

Shares of NEE stock opened at $84.52 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.41 and a current ratio of 0.49. The firm has a market capitalization of $173.65 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 3.08 and a beta of 0.56. NextEra Energy, Inc. has a one year low of $47.15 and a one year high of $85.56. The company has a 50 day moving average price of $79.85 and a 200 day moving average price of $73.57.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the prior year, the firm posted $0.88 EPS. Sell-side analysts anticipate that NextEra Energy, Inc. will post 3.4 EPS for the current year.

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Friday, August 30th. NextEra Energy’s payout ratio is currently 56.13%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NEE. Wells Fargo & Company lifted their price objective on NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Bank of America upped their price objective on NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Dbs Bank lowered NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley boosted their target price on shares of NextEra Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Scotiabank raised their price target on shares of NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $82.07.

Insider Buying and Selling

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of NextEra Energy stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.97, for a total transaction of $50,646.26. Following the transaction, the executive vice president now directly owns 100 shares of the company’s stock, valued at $7,697. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

About NextEra Energy

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.