ELCO Management Co. LLC Buys 5,034 Shares of NextEra Energy, Inc. (NYSE:NEE)

ELCO Management Co. LLC lifted its position in NextEra Energy, Inc. (NYSE:NEE) by 21.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,031 shares of the utilities provider’s stock after acquiring an additional 5,034 shares during the quarter. NextEra Energy makes up approximately 1.2% of ELCO Management Co. LLC’s portfolio, making the stock its 19th largest position. ELCO Management Co. LLC’s holdings in NextEra Energy were worth $1,985,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NEE. Proffitt & Goodson Inc. increased its stake in NextEra Energy by 64.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after buying an additional 144 shares during the last quarter. Semmax Financial Advisors Inc. increased its position in shares of NextEra Energy by 197.4% during the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 225 shares during the last quarter. Clear Investment Research LLC increased its position in shares of NextEra Energy by 387.2% during the 4th quarter. Clear Investment Research LLC now owns 458 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 364 shares during the last quarter. American Capital Advisory LLC raised its position in NextEra Energy by 74.5% in the first quarter. American Capital Advisory LLC now owns 480 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 205 shares during the period. Finally, Valley Wealth Managers Inc. purchased a new position in NextEra Energy in the second quarter valued at about $33,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Analyst Ratings Changes

NEE has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of NextEra Energy from $79.00 to $83.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Scotiabank increased their price target on NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Citigroup lifted their price objective on NextEra Energy from $69.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Barclays upped their price objective on shares of NextEra Energy from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday, August 16th. Finally, Royal Bank of Canada lifted their target price on shares of NextEra Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, NextEra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.87.

NextEra Energy Stock Down 0.6 %

NEE stock opened at $84.30 on Wednesday. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15. NextEra Energy, Inc. has a 1-year low of $47.15 and a 1-year high of $85.56. The stock has a market cap of $173.27 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 3.08 and a beta of 0.56. The company’s 50 day moving average is $78.86 and its 200 day moving average is $72.84.

NextEra Energy (NYSE:NEE) last announced its earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The company had revenue of $6.07 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same period in the previous year, the business earned $0.88 earnings per share. Sell-side analysts predict that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Nicole J. Daggs sold 658 shares of the stock in a transaction 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 owns 100 shares of the company’s stock, valued at approximately $7,697. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.