NextEra Energy, Inc. $NEE Shares Bought by Renaissance Investment Group LLC

Renaissance Investment Group LLC lifted its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 12.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,886 shares of the utilities provider’s stock after buying an additional 13,100 shares during the quarter. NextEra Energy makes up 1.9% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 25th largest position. Renaissance Investment Group LLC’s holdings in NextEra Energy were worth $9,080,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NEE. Legal & General Group Plc purchased a new position in NextEra Energy in the 2nd quarter worth approximately $1,465,987,000. GQG Partners LLC acquired a new position in NextEra Energy during the 2nd quarter worth $651,293,000. Canada Pension Plan Investment Board acquired a new position in NextEra Energy during the 2nd quarter worth $389,527,000. Amundi grew its holdings in NextEra Energy by 46.5% during the 2nd quarter. Amundi now owns 13,329,077 shares of the utilities provider’s stock worth $1,169,839,000 after acquiring an additional 4,231,814 shares in the last quarter. Finally, Caisse de depot et placement du Quebec bought a new stake in shares of NextEra Energy in the 2nd quarter worth about $288,886,000. 78.72% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Price Performance

Shares of NYSE:NEE opened at $83.82 on Friday. The stock has a market capitalization of $175.80 billion, a P/E ratio of 15.10, a P/E/G ratio of 2.54 and a beta of 0.64. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.53 and a quick ratio of 0.45. The business has a 50-day moving average of $80.24 and a two-hundred day moving average of $87.17. NextEra Energy, Inc. has a fifty-two week low of $74.41 and a fifty-two week high of $98.75.

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

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 27th will be given a $0.6232 dividend. This represents a $2.49 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, November 27th. NextEra Energy’s dividend payout ratio (DPR) is currently 44.86%.

Analyst Ratings Changes

NEE has been the subject of a number of research analyst reports. Seaport Research Partners reiterated a “sell” rating and issued a $56.00 price target (up from $55.00) on shares of NextEra Energy in a report on Friday, October 2nd. HC Wainwright reissued a “buy” rating on shares of NextEra Energy in a research note on Monday, July 27th. Piper Sandler set a $88.00 target price on shares of NextEra Energy in a research report on Tuesday, October 20th. Wells Fargo & Company upgraded NextEra Energy to a “strong-buy” rating in a research report on Monday, October 12th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of NextEra Energy in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, NextEra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $97.80.

NextEra Energy Profile

NextEra Energy, Inc is an energy infrastructure company headquartered in Juno Beach, Florida. Through its businesses, the company generates, transmits, distributes and sells electricity, with a focus on regulated utility operations and clean energy development.

Florida Power & Light Company, NextEra Energy’s principal regulated utility, serves customers across much of Florida. FPL operates electric generation, transmission and distribution infrastructure and provides retail electricity service to residential, commercial and industrial customers.

NextEra Energy Resources develops, owns and operates renewable energy and energy storage projects, including wind and solar facilities.