Resona Asset Management Co. Ltd. Acquires New Holdings in NextEra Energy, Inc. (NYSE:NEE)

Resona Asset Management Co. Ltd. bought a new position in NextEra Energy, Inc. (NYSE:NEE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 610,025 shares of the utilities provider’s stock, valued at approximately $43,776,000.

Several other hedge funds have also modified their holdings of the company. Notis McConarty Edward raised its stake in NextEra Energy by 3.4% in the fourth quarter. Notis McConarty Edward now owns 10,278 shares of the utilities provider’s stock valued at $737,000 after buying an additional 334 shares during the last quarter. Wealth Advisors of Tampa Bay LLC raised its stake in NextEra Energy by 14.7% in the 4th quarter. Wealth Advisors of Tampa Bay LLC now owns 24,731 shares of the utilities provider’s stock worth $1,773,000 after acquiring an additional 3,175 shares during the last quarter. Orion Investment Co lifted its position in NextEra Energy by 3.9% during the 4th quarter. Orion Investment Co now owns 99,028 shares of the utilities provider’s stock worth $7,099,000 after acquiring an additional 3,715 shares during the period. Kidder Stephen W grew its stake in NextEra Energy by 12.3% during the 4th quarter. Kidder Stephen W now owns 2,875 shares of the utilities provider’s stock valued at $206,000 after purchasing an additional 315 shares during the last quarter. Finally, Somerville Kurt F increased its holdings in shares of NextEra Energy by 1.0% in the fourth quarter. Somerville Kurt F now owns 76,802 shares of the utilities provider’s stock valued at $5,506,000 after purchasing an additional 730 shares during the period. 78.72% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Stock Performance

Shares of NEE stock opened at $66.97 on Friday. The company has a market capitalization of $137.75 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.45 and a beta of 0.58. NextEra Energy, Inc. has a 12-month low of $61.31 and a 12-month high of $86.10. The business’s 50 day moving average is $70.65 and its two-hundred day moving average is $74.73. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20.

NextEra Energy (NYSE:NEE) last announced its earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. Analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. NextEra Energy’s dividend payout ratio is 67.06%.

Insider Activity at NextEra Energy

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total transaction of $162,258.47. Following the completion of the sale, the chief accounting officer now directly owns 27,427 shares in the company, valued at approximately $1,867,504.43. The trade was a 7.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NEE shares. Morgan Stanley upped their target price on NextEra Energy from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Guggenheim reissued a “buy” rating and set a $89.00 target price on shares of NextEra Energy in a report on Thursday, March 20th. Jefferies Financial Group decreased their target price on shares of NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. JPMorgan Chase & Co. increased 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. Finally, Scotiabank boosted their price objective on NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy currently has an average rating of “Hold” and a consensus price target of $85.92.

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.