ELCO Management Co. LLC Acquires 2,953 Shares of NextEra Energy, Inc. (NYSE:NEE)

ELCO Management Co. LLC increased its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 48.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,096 shares of the utilities provider’s stock after acquiring an additional 2,953 shares during the quarter. ELCO Management Co. LLC’s holdings in NextEra Energy were worth $667,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of NextEra Energy by 3.6% in the first quarter. Geode Capital Management LLC now owns 30,066,401 shares of the utilities provider’s stock valued at $2,266,842,000 after purchasing an additional 1,044,918 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of NextEra Energy by 4.0% in the second quarter. Fisher Asset Management LLC now owns 14,153,018 shares of the utilities provider’s stock valued at $1,037,133,000 after purchasing an additional 546,944 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of NextEra Energy by 1.1% in the second quarter. Alliancebernstein L.P. now owns 11,709,499 shares of the utilities provider’s stock valued at $858,072,000 after purchasing an additional 128,517 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of NextEra Energy by 7.0% in the first quarter. Artisan Partners Limited Partnership now owns 10,640,983 shares of the utilities provider’s stock valued at $804,565,000 after purchasing an additional 699,310 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of NextEra Energy by 1.7% in the first quarter. Swiss National Bank now owns 9,094,532 shares of the utilities provider’s stock valued at $687,638,000 after purchasing an additional 154,600 shares during the last quarter. Hedge funds and other institutional investors own 74.67% of the company’s stock.

Shares of NextEra Energy stock traded up $0.58 during trading on Monday, reaching $82.22. The company’s stock had a trading volume of 232,156 shares, compared to its average volume of 7,853,228. The firm has a market cap of $161.27 billion, a PE ratio of 51.18, a P/E/G ratio of 4.05 and a beta of 0.19. The business’s 50-day moving average price is $81.56 and its 200-day moving average price is $77.09. NextEra Energy, Inc. has a 52 week low of $66.79 and a 52 week high of $87.69. The company has a quick ratio of 0.38, a current ratio of 0.48 and a debt-to-equity ratio of 1.05.

NextEra Energy (NYSE:NEE) last issued its earnings results on Thursday, July 22nd. The utilities provider reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.01. The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $4.91 billion. NextEra Energy had a return on equity of 10.84% and a net margin of 18.69%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.61 earnings per share. Equities analysts predict that NextEra Energy, Inc. will post 2.52 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Friday, August 27th were issued a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 1.87%. The ex-dividend date was Thursday, August 26th. NextEra Energy’s payout ratio is presently 66.67%.

In other news, EVP Ronald R. Reagan sold 4,166 shares of the company’s stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of $84.00, for a total transaction of $349,944.00. Following the transaction, the executive vice president now directly owns 28,043 shares of the company’s stock, valued at $2,355,612. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah H. Caplan sold 6,896 shares of the company’s stock in a transaction that occurred on Monday, June 28th. The stock was sold at an average price of $75.00, for a total value of $517,200.00. Following the transaction, the executive vice president now directly owns 123,339 shares in the company, valued at $9,250,425. The disclosure for this sale can be found here. Insiders sold 23,213 shares of company stock worth $1,891,838 over the last quarter. 0.38% of the stock is currently owned by company insiders.

NEE has been the subject of several analyst reports. Barclays decreased their target price on shares of NextEra Energy from $82.00 to $78.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 25th. Morgan Stanley decreased their target price on shares of NextEra Energy from $80.00 to $79.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Credit Suisse Group assumed coverage on shares of NextEra Energy in a research note on Wednesday, July 14th. They issued an “outperform” rating and a $85.00 target price for the company. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $81.35.

NextEra Energy Company Profile

NextEra Energy, Inc is an electric power and energy infrastructure company. It operates through the following segments: FPL & NEER. The FPL segment engages primarily in the generation, transmission, distribution and sale of electric energy in Florida. The NEER segment produces electricity from clean and renewable sources, including wind and solar.

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Institutional Ownership by Quarter for NextEra Energy (NYSE:NEE)

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