Zhang Financial LLC Increases Stake in NextEra Energy, Inc. $NEE

Zhang Financial LLC lifted its stake in NextEra Energy, Inc. (NYSE:NEE) by 190.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,722 shares of the utilities provider’s stock after purchasing an additional 8,339 shares during the quarter. Zhang Financial LLC’s holdings in NextEra Energy were worth $883,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Activest Wealth Management raised its position in NextEra Energy by 79.7% during the 2nd quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock worth $25,000 after buying an additional 157 shares during the last quarter. Harbor Asset Planning Inc. purchased a new position in NextEra Energy during the 2nd quarter worth approximately $25,000. 1 North Wealth Services LLC purchased a new position in NextEra Energy during the 1st quarter worth approximately $26,000. Nova Wealth Management Inc. purchased a new position in NextEra Energy during the 1st quarter worth approximately $32,000. Finally, IMA Advisory Services Inc. purchased a new position in NextEra Energy during the 1st quarter worth approximately $35,000. 78.72% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Price Performance

Shares of NYSE NEE opened at $83.58 on Wednesday. The stock has a market capitalization of $172.12 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 2.91 and a beta of 0.66. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $87.53. The firm’s 50 day simple moving average is $76.98 and its 200-day simple moving average is $73.12. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.54 and a quick ratio of 0.45.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter last year, the company earned $1.03 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be paid a $0.5665 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.27 dividend on an annualized basis and a yield of 2.7%. NextEra Energy’s dividend payout ratio (DPR) is currently 79.37%.

Analyst Ratings Changes

A number of equities analysts have issued reports on NEE shares. TD Cowen started coverage on shares of NextEra Energy in a research report on Thursday, October 16th. They set a “buy” rating and a $98.00 price target for the company. Mizuho raised their price target on shares of NextEra Energy from $78.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday. BTIG Research reissued a “buy” rating on shares of NextEra Energy in a research report on Monday. Wells Fargo & Company set a $97.00 price target on shares of NextEra Energy and gave the stock an “overweight” rating in a research report on Monday. Finally, Jefferies Financial Group reissued a “hold” rating and set a $85.00 price target (up from $77.00) on shares of NextEra Energy in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.06.

Insider Activity at NextEra Energy

In related news, EVP Michael Dunne sold 10,000 shares of NextEra Energy stock in a transaction on Monday, September 8th. The shares were sold at an average price of $70.79, for a total value of $707,900.00. Following the sale, the executive vice president owned 62,064 shares of the company’s stock, valued at approximately $4,393,510.56. This trade represents a 13.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles E. Sieving sold 11,336 shares of NextEra Energy stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total transaction of $906,880.00. Following the completion of the sale, the executive vice president directly owned 167,481 shares in the company, valued at $13,398,480. This represents a 6.34% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 23,028 shares of company stock valued at $1,738,973. 0.18% of the stock is owned by company insiders.

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.