QRG Capital Management Inc. Boosts Stock Position in NextEra Energy, Inc. (NYSE:NEE)

QRG Capital Management Inc. grew its holdings in NextEra Energy, Inc. (NYSE:NEE) by 1.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 194,556 shares of the utilities provider’s stock after buying an additional 3,330 shares during the quarter. QRG Capital Management Inc.’s holdings in NextEra Energy were worth $13,792,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bellwether Advisors LLC purchased a new stake in shares of NextEra Energy during the fourth quarter worth approximately $30,000. WealthTrak Capital Management LLC purchased a new stake in shares of NextEra Energy during the fourth quarter worth approximately $33,000. Copia Wealth Management purchased a new stake in shares of NextEra Energy during the fourth quarter worth approximately $36,000. Midwest Capital Advisors LLC purchased a new stake in shares of NextEra Energy during the fourth quarter worth approximately $44,000. Finally, Promus Capital LLC purchased a new stake in shares of NextEra Energy during the fourth quarter worth approximately $45,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Stock Performance

Shares of NextEra Energy stock opened at $73.80 on Tuesday. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $86.10. The business’s fifty day simple moving average is $69.19 and its 200-day simple moving average is $70.37. The firm has a market cap of $151.93 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 2.45 and a beta of 0.68. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20.

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

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Monday, June 2nd. NextEra Energy’s payout ratio is 84.64%.

Insider Buying and Selling

In related news, EVP Charles E. Sieving sold 23,684 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the transaction, the executive vice president now owns 196,817 shares of the company’s stock, valued at approximately $13,777,190. This represents a 10.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NEE. JPMorgan Chase & Co. boosted their price target on NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Morgan Stanley restated an “overweight” rating on shares of NextEra Energy in a report on Wednesday, April 23rd. UBS Group dropped their target price on NextEra Energy from $94.00 to $84.00 and set a “buy” rating for the company in a report on Friday, May 23rd. Barclays dropped their target price on NextEra Energy from $73.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday, April 29th. Finally, Wells Fargo & Company dropped their target price on NextEra Energy from $102.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, NextEra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.50.

NextEra Energy Profile

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.