Cannon Advisors Inc. Takes Position in NextEra Energy, Inc. $NEE

Cannon Advisors Inc. purchased a new position in shares of NextEra Energy, Inc. (NYSE:NEE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,940 shares of the utilities provider’s stock, valued at approximately $274,000.

A number of other hedge funds have also recently added to or reduced their stakes in NEE. GQG Partners LLC raised its stake in shares of NextEra Energy by 58.4% during the 1st quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider’s stock worth $1,221,896,000 after buying an additional 6,352,798 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in NextEra Energy by 20.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider’s stock worth $1,165,748,000 after acquiring an additional 2,815,629 shares during the period. Amundi raised its position in NextEra Energy by 27.8% in the first quarter. Amundi now owns 12,200,990 shares of the utilities provider’s stock worth $878,447,000 after acquiring an additional 2,657,438 shares in the last quarter. Vanguard Group Inc. raised its position in NextEra Energy by 1.0% in the first 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 in the last quarter. Finally, Boston Partners lifted its holdings in NextEra Energy by 55.3% in the first quarter. Boston Partners now owns 5,300,839 shares of the utilities provider’s stock valued at $374,639,000 after acquiring an additional 1,886,999 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 Michael Dunne sold 10,000 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $70.79, for a total value of $707,900.00. Following the completion of the transaction, the executive vice president owned 62,064 shares of the company’s stock, valued at approximately $4,393,510.56. The trade was a 13.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Charles E. Sieving sold 11,336 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 167,481 shares in the company, valued at approximately $13,398,480. This trade represents a 6.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 23,028 shares of company stock worth $1,738,973. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NEE has been the topic of a number of recent analyst reports. TD Cowen started coverage on shares of NextEra Energy in a research note on Thursday, October 16th. They set a “buy” rating and a $98.00 price target on the stock. Citigroup reissued a “buy” rating and set a $96.00 price objective (up previously from $84.00) on shares of NextEra Energy in a report on Wednesday, October 29th. New Street Research set a $84.00 target price on shares of NextEra Energy in a report on Monday, October 13th. Barclays set a $88.00 price target on NextEra Energy and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NextEra Energy in a research note on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.53.

NextEra Energy Stock Down 0.2%

NEE stock opened at $83.84 on Friday. The company’s 50 day simple moving average is $79.50 and its 200-day simple moving average is $74.64. The firm has a market capitalization of $174.60 billion, a PE ratio of 26.70, a P/E/G ratio of 2.76 and a beta of 0.69. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $87.53. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.55 and a quick ratio of 0.45.

NextEra Energy (NYSE:NEE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. The firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $8.13 billion. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.NextEra Energy’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. Equities analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

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