NextEra Energy, Inc. $NEE Shares Purchased by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. lifted its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 2.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,633 shares of the utilities provider’s stock after purchasing an additional 1,954 shares during the period. Summit Investment Advisors Inc.’s holdings in NextEra Energy were worth $6,779,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NEE. Vanguard Group Inc. increased its stake in shares of NextEra Energy by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 207,322,418 shares of the utilities provider’s stock worth $14,697,086,000 after acquiring an additional 2,025,193 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of NextEra Energy by 1.1% in the 1st quarter. Northern Trust Corp now owns 23,353,245 shares of the utilities provider’s stock worth $1,655,512,000 after acquiring an additional 262,819 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in NextEra Energy by 6.7% during the first quarter. Goldman Sachs Group Inc. now owns 21,269,146 shares of the utilities provider’s stock worth $1,507,770,000 after purchasing an additional 1,336,259 shares in the last quarter. GQG Partners LLC lifted its position in shares of NextEra Energy by 58.4% during the first quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider’s stock worth $1,221,896,000 after purchasing an additional 6,352,798 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in NextEra Energy by 20.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider’s stock valued at $1,165,748,000 after buying an additional 2,815,629 shares during the period. Institutional investors and hedge funds own 78.72% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mark Lemasney sold 846 shares of NextEra Energy stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the transaction, the executive vice president directly owned 9,267 shares in the company, valued at $694,098.30. The trade was a 8.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Charles E. Sieving sold 11,336 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total value of $906,880.00. Following the completion of the sale, the executive vice president directly owned 167,481 shares in the company, valued at approximately $13,398,480. The trade was a 6.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 23,028 shares of company stock worth $1,738,973 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NEE. HSBC lowered their price target on shares of NextEra Energy from $88.00 to $86.00 and set a “buy” rating for the company in a report on Friday, July 11th. Morgan Stanley reiterated an “overweight” rating and set a $95.00 target price (down previously from $96.00) on shares of NextEra Energy in a research note on Thursday, September 25th. JPMorgan Chase & Co. raised their price target on NextEra Energy from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, August 22nd. Cowen initiated coverage on NextEra Energy in a research report on Wednesday, October 15th. They set a “buy” rating for the company. Finally, TD Cowen initiated coverage on NextEra Energy in a report on Thursday, October 16th. They issued a “buy” rating and a $98.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NextEra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.22.

NextEra Energy Stock Performance

NYSE:NEE opened at $83.92 on Friday. The firm’s fifty day simple moving average is $78.17 and its 200-day simple moving average is $73.95. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.30. The stock has a market cap of $174.76 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 2.76 and a beta of 0.69. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $87.53.

NextEra Energy (NYSE:NEE) last released 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 24.72% and a return on equity of 12.42%. The firm had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. Analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 21st will be paid a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, November 21st. NextEra Energy’s payout ratio is 71.97%.

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.