NextEra Energy, Inc. $NEE Position Boosted by Welch Group LLC

Welch Group LLC boosted its holdings in NextEra Energy, Inc. (NYSE:NEE) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 878,931 shares of the utilities provider’s stock after buying an additional 20,729 shares during the period. NextEra Energy makes up about 2.3% of Welch Group LLC’s investment portfolio, making the stock its 16th biggest position. Welch Group LLC’s holdings in NextEra Energy were worth $66,570,000 at the end of the most recent quarter.

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

NextEra Energy Stock Performance

Shares of NEE opened at $83.82 on Monday. The firm has a 50-day moving average of $80.24 and a 200-day moving average of $87.17. NextEra Energy, Inc. has a one year low of $74.41 and a one year high of $98.75. The company has a market cap of $175.80 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 2.59 and a beta of 0.60. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.53 and a quick ratio of 0.45.

NextEra Energy (NYSE:NEE) last issued 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 company had revenue of $8.09 billion for the quarter, compared to analysts’ expectations of $8.47 billion. NextEra Energy had a net margin of 40.37% and a return on equity of 12.27%. NextEra Energy’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 EPS. As a group, equities analysts forecast that NextEra Energy, Inc. will post 4.01 earnings per share for the current year.

NextEra Energy Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Weiss Ratings raised NextEra Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 22nd. Seaport Research Partners restated a “sell” rating and issued a $56.00 target price (up from $55.00) on shares of NextEra Energy in a research note on Friday, October 2nd. Scotiabank reduced their price target on NextEra Energy from $110.00 to $99.00 and set an “outperform” rating for the company in a research report on Wednesday, September 30th. HC Wainwright reaffirmed a “buy” rating on shares of NextEra Energy in a research note on Monday, July 27th. Finally, BMO Capital Markets set a $88.00 price objective on shares of NextEra Energy and gave the company an “outperform” rating in a report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, NextEra Energy currently 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 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.