NextEra Energy, Inc. $NEE Stock: M&G PLC Raises Stake

M&G PLC raised its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 15.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,748,056 shares of the utilities provider’s stock after acquiring an additional 641,295 shares during the quarter. NextEra Energy accounts for approximately 1.8% of M&G PLC’s investment portfolio, making the stock its 9th biggest position. M&G PLC’s holdings in NextEra Energy were worth $360,852,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Czech National Bank boosted its stake in shares of NextEra Energy by 4.7% during the 2nd quarter. Czech National Bank now owns 593,568 shares of the utilities provider’s stock worth $52,097,000 after acquiring an additional 26,378 shares during the last quarter. Annex Advisory Services LLC lifted its position in shares of NextEra Energy by 13.9% in the second quarter. Annex Advisory Services LLC now owns 711,009 shares of the utilities provider’s stock worth $62,405,000 after buying an additional 86,585 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of NextEra Energy by 4.1% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 544,574 shares of the utilities provider’s stock valued at $47,797,000 after purchasing an additional 21,569 shares in the last quarter. CV Advisors LLC purchased a new stake in shares of NextEra Energy during the 2nd quarter valued at about $1,404,000. Finally, Avity Investment Management Inc. lifted its stake in shares of NextEra Energy by 5.7% in the 2nd quarter. Avity Investment Management Inc. now owns 500,576 shares of the utilities provider’s stock valued at $43,936,000 after purchasing an additional 26,848 shares during the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Stock Down 0.1%

NEE stock opened at $86.87 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.53 and a debt-to-equity ratio of 1.33. NextEra Energy, Inc. has a 52 week low of $74.41 and a 52 week high of $98.75. The stock has a market capitalization of $182.20 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.73 and a beta of 0.60. The firm has a 50-day simple moving average of $80.61 and a 200-day simple moving average of $87.28.

NextEra Energy (NYSE:NEE) last announced its earnings results on Wednesday, October 21st. The utilities provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $8.47 billion. NextEra Energy had a return on equity of 12.27% and a net margin of 40.37%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Equities analysts forecast that NextEra Energy, Inc. will post 4.01 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 27th will be issued a $0.6232 dividend. The ex-dividend date is Friday, November 27th. This represents a $2.49 dividend on an annualized basis and a yield of 2.9%. NextEra Energy’s dividend payout ratio (DPR) is presently 44.86%.

Wall Street Analysts Forecast Growth

NEE has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “hold” rating on shares of NextEra Energy in a research report on Thursday, October 8th. Wall Street Zen upgraded shares of NextEra Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, October 17th. Bank of America cut their price objective on shares of NextEra Energy from $95.00 to $93.00 and set a “neutral” rating on the stock in a report on Monday, July 13th. Scotiabank dropped their target price on NextEra Energy from $110.00 to $99.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 30th. Finally, Wells Fargo & Company upgraded NextEra Energy to a “strong-buy” rating in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.80.

NextEra Energy Company Profile

NextEra Energy, Inc is an energy company whose businesses include Florida Power & Light Company (FPL), a regulated electric utility, and NextEra Energy Resources, a developer and operator of energy infrastructure. FPL generates, transmits and distributes electricity to customers across Florida.

NextEra Energy Resources develops and operates projects in North America, including wind and solar generation, battery storage, and natural gas and nuclear facilities. The company also invests in transmission infrastructure and provides energy-related services.

The company traces its roots to 1925, when Florida Power & Light was established.