CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Makes New Investment in NextEra Energy, Inc. (NYSE:NEE)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in NextEra Energy, Inc. (NYSE:NEE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 51,000 shares of the utilities provider’s stock, valued at approximately $4,311,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Proffitt & Goodson Inc. grew its position in NextEra Energy by 64.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 144 shares during the last quarter. Semmax Financial Advisors Inc. grew its position in NextEra Energy by 197.4% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 225 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in NextEra Energy during the 2nd quarter valued at about $33,000. Family Firm Inc. bought a new position in NextEra Energy during the 2nd quarter valued at about $40,000. Finally, Bbjs Financial Advisors LLC bought a new position in NextEra Energy during the 2nd quarter valued at about $43,000. 78.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NextEra Energy

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of NextEra Energy stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.97, for a total value of $50,646.26. Following the completion of the sale, the executive vice president now directly owns 100 shares of the company’s stock, valued at approximately $7,697. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. BMO Capital Markets upped their target price on shares of NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday. Jefferies Financial Group began coverage on shares of NextEra Energy in a report on Thursday, September 19th. They set a “hold” rating and a $87.00 price objective for the company. Bank of America increased their price objective on shares of NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Dbs Bank lowered shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of NextEra Energy from $91.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $85.46.

NextEra Energy Stock Performance

NYSE:NEE traded down $0.10 during trading hours on Tuesday, hitting $83.93. 3,285,012 shares of the company traded hands, compared to its average volume of 10,733,580. The firm has a 50-day moving average of $81.94 and a 200 day moving average of $75.76. NextEra Energy, Inc. has a twelve month low of $50.95 and a twelve month high of $86.10. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $172.44 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 2.92 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last announced its earnings results on Wednesday, July 24th. The utilities provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. The business had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the previous year, the business earned $0.88 EPS. On average, analysts forecast that NextEra Energy, Inc. will post 3.4 EPS for the current year.

NextEra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 2.45%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s payout ratio is 56.13%.

About NextEra Energy

NextEra Energy, Inc, through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear,natural gas, and other clean energy. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.