Riggs Asset Managment Co. Inc. boosted its stake in NextEra Energy Inc. (NYSE:NEE) by 378.8% during the second quarter, Holdings Channel reports. The fund owned 948 shares of the company’s stock after buying an additional 750 shares during the period. Riggs Asset Managment Co. Inc.’s holdings in NextEra Energy were worth $124,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of NextEra Energy by 14.6% in the first quarter. Wellington Management Group LLP now owns 19,485,140 shares of the company’s stock worth $2,305,872,000 after buying an additional 2,480,652 shares during the period. Sarasin & Partners LLP acquired a new stake in NextEra Energy during the second quarter valued at about $79,605,000. Bank of Montreal Can acquired a new stake in NextEra Energy during the second quarter valued at about $60,898,000. Renaissance Technologies LLC raised its stake in NextEra Energy by 60.1% in the first quarter. Renaissance Technologies LLC now owns 1,155,000 shares of the company’s stock valued at $136,683,000 after buying an additional 433,700 shares during the last quarter. Finally, Hexavest Inc. raised its stake in NextEra Energy by 149.6% in the second quarter. Hexavest Inc. now owns 394,235 shares of the company’s stock valued at $51,408,000 after buying an additional 236,268 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.
NextEra Energy Inc. (NYSE:NEE) traded up 0.85% during trading on Tuesday, reaching $125.11. 1,315,749 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $123.34 and its 200 day moving average price is $122.99. NextEra Energy Inc. has a 52-week low of $96.19 and a 52-week high of $131.98. The firm has a market cap of $57.80 billion, a P/E ratio of 22.39 and a beta of 0.28.
NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, July 27th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. The company earned $3.82 billion during the quarter, compared to analysts’ expectations of $4.33 billion. NextEra Energy had a net margin of 15.36% and a return on equity of 11.82%. NextEra Energy’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.56 EPS. Equities research analysts anticipate that NextEra Energy Inc. will post $6.20 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Tuesday, November 22nd. NextEra Energy’s dividend payout ratio is 62.59%.
NEE has been the subject of several analyst reports. Morgan Stanley initiated coverage on shares of NextEra Energy in a research note on Wednesday, June 29th. They issued a “hold” rating and a $146.00 price objective for the company. Zacks Investment Research raised shares of NextEra Energy from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Tuesday, July 5th. KeyCorp reaffirmed an “outperform” rating and issued a $134.00 price objective (up previously from $126.00) on shares of NextEra Energy in a research note on Tuesday, July 5th. Mizuho lifted their price objective on shares of NextEra Energy from $125.00 to $138.00 and gave the company a “buy” rating in a research note on Monday, July 18th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $135.00 price objective on shares of NextEra Energy in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $129.26.
In related news, VP Chris N. Froggatt sold 16,467 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $127.61, for a total transaction of $2,101,353.87. Following the transaction, the vice president now directly owns 22,916 shares of the company’s stock, valued at $2,924,310.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.
About NextEra Energy
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power company in North America with electric generating facilities located in over 30 states in the United States and approximately five provinces in Canada. NEE’s operating segments are FPL, an electric utility, and NEER, an energy business.
Want to see what other hedge funds are holding NEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NextEra Energy Inc. (NYSE:NEE).
Receive News & Ratings for NextEra Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextEra Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.