NextEra Energy, Inc. (NEE) to Issue Quarterly Dividend of $0.57 on June 16th

NextEra Energy, Inc. (NYSE:NEE) declared a quarterly dividend on Thursday, May 22nd, RTT News reports. Investors of record on Monday, June 2nd will be paid a dividend of 0.5665 per share by the utilities provider on Monday, June 16th. This represents a $2.27 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Monday, June 2nd.

NextEra Energy has increased its dividend payment by an average of 10.2% annually over the last three years and has raised its dividend every year for the last 31 years. NextEra Energy has a dividend payout ratio of 56.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NextEra Energy to earn $3.96 per share next year, which means the company should continue to be able to cover its $2.27 annual dividend with an expected future payout ratio of 57.3%.

NextEra Energy Trading Up 2.1%

Shares of NEE opened at $70.47 on Friday. The stock has a market capitalization of $145.07 billion, a P/E ratio of 20.91, a PEG ratio of 2.45 and a beta of 0.69. NextEra Energy has a twelve month low of $61.72 and a twelve month high of $86.10. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20. The firm has a fifty day simple moving average of $68.40 and a two-hundred day simple moving average of $70.81.

NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.99. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. The company had revenue of $6.25 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same period in the prior year, the business posted $0.91 earnings per share. NextEra Energy’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, research analysts anticipate that NextEra Energy will post 3.68 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Charles E. Sieving sold 23,684 shares of NextEra Energy stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the completion of the transaction, the executive vice president now directly owns 196,817 shares in the company, valued at approximately $13,777,190. This trade represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC grew its stake in shares of NextEra Energy by 6.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,854 shares of the utilities provider’s stock worth $348,000 after acquiring an additional 298 shares during the last quarter. Acadian Asset Management LLC boosted its stake in NextEra Energy by 38.4% in the 1st quarter. Acadian Asset Management LLC now owns 12,542 shares of the utilities provider’s stock worth $887,000 after purchasing an additional 3,479 shares in the last quarter. Finally, Brighton Jones LLC grew its position in NextEra Energy by 7.0% during the 4th quarter. Brighton Jones LLC now owns 28,282 shares of the utilities provider’s stock valued at $2,028,000 after purchasing an additional 1,840 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NEE. Wells Fargo & Company reduced their target price on NextEra Energy from $102.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Erste Group Bank downgraded shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. UBS Group dropped their target price on shares of NextEra Energy from $94.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, May 23rd. Finally, Barclays reduced their price target on shares of NextEra Energy from $73.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.50.

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.