NextEra Energy, Inc. (NYSE:NEE) Stake Raised by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC grew its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 45.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,342 shares of the utilities provider’s stock after buying an additional 9,771 shares during the period. Red Cedar Investment Management LLC’s holdings in NextEra Energy were worth $2,649,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. grew its position in NextEra Energy by 2.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 32,907 shares of the utilities provider’s stock worth $2,103,000 after buying an additional 784 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of NextEra Energy by 11.9% during the 1st quarter. Proficio Capital Partners LLC now owns 11,930 shares of the utilities provider’s stock valued at $762,000 after buying an additional 1,265 shares during the period. CapWealth Advisors LLC acquired a new stake in shares of NextEra Energy in the 1st quarter valued at $949,000. United Community Bank lifted its stake in shares of NextEra Energy by 5.7% in the 1st quarter. United Community Bank now owns 16,283 shares of the utilities provider’s stock valued at $1,041,000 after purchasing an additional 878 shares during the last quarter. Finally, Boomfish Wealth Group LLC lifted its stake in shares of NextEra Energy by 3.8% in the 1st quarter. Boomfish Wealth Group LLC now owns 20,839 shares of the utilities provider’s stock valued at $1,332,000 after purchasing an additional 759 shares during the last quarter. Institutional investors own 78.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NEE shares. Scotiabank lifted their price objective on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Bank of America boosted their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Morgan Stanley boosted their price objective on shares of NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Barclays boosted their price objective on shares of NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company boosted their price objective on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, NextEra Energy presently has a consensus rating of “Hold” and an average target price of $86.54.

NextEra Energy Price Performance

Shares of NEE stock traded up $0.30 during trading hours on Monday, reaching $77.65. 3,481,811 shares of the company were exchanged, compared to its average volume of 10,763,050. NextEra Energy, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $86.10. The stock’s fifty day moving average is $82.39 and its two-hundred day moving average is $76.87. The company has a market cap of $159.68 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 2.86 and a beta of 0.57. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The business had revenue of $7.57 billion for the quarter, compared to analyst estimates of $8.11 billion. During the same period in the prior year, the business posted $0.94 earnings per share. NextEra Energy’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts forecast that NextEra Energy, Inc. will post 3.41 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be issued a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 annualized dividend and a yield of 2.65%. NextEra Energy’s dividend payout ratio is currently 60.95%.

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.