QUANTRES ASSET MANAGEMENT Ltd Takes $939,000 Position in NextEra Energy Inc (NEE)

QUANTRES ASSET MANAGEMENT Ltd purchased a new position in NextEra Energy Inc (NYSE:NEE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,600 shares of the utilities provider’s stock, valued at approximately $939,000.

A number of other hedge funds have also recently modified their holdings of NEE. Capital Advisors Ltd. LLC lifted its stake in NextEra Energy by 323.5% during the third quarter. Capital Advisors Ltd. LLC now owns 648 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 495 shares in the last quarter. Braun Bostich & Associates Inc. raised its stake in shares of NextEra Energy by 492.5% in the second quarter. Braun Bostich & Associates Inc. now owns 865 shares of the utilities provider’s stock valued at $144,000 after acquiring an additional 719 shares in the last quarter. Howe & Rusling Inc. raised its stake in shares of NextEra Energy by 70.5% in the second quarter. Howe & Rusling Inc. now owns 902 shares of the utilities provider’s stock valued at $151,000 after acquiring an additional 373 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new stake in shares of NextEra Energy in the second quarter valued at $167,000. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of NextEra Energy in the third quarter valued at $168,000. 76.47% of the stock is currently owned by institutional investors.

NEE stock opened at $172.78 on Tuesday. NextEra Energy Inc has a 12-month low of $145.10 and a 12-month high of $176.82. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.65 and a quick ratio of 0.57. The company has a market cap of $81.20 billion, a PE ratio of 25.79, a P/E/G ratio of 2.61 and a beta of 0.20.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Tuesday, October 23rd. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.03. NextEra Energy had a net margin of 51.25% and a return on equity of 10.21%. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.92 billion. During the same period last year, the firm earned $1.85 EPS. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, analysts forecast that NextEra Energy Inc will post 7.76 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.57%. NextEra Energy’s payout ratio is 66.27%.

In related news, Director Rudy E. Schupp sold 1,600 shares of NextEra Energy stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $167.00, for a total transaction of $267,200.00. Following the completion of the transaction, the director now directly owns 21,300 shares in the company, valued at approximately $3,557,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Treasurer Paul I. Cutler sold 7,639 shares of NextEra Energy stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $173.30, for a total value of $1,323,838.70. Following the transaction, the treasurer now owns 98,914 shares of the company’s stock, valued at $17,141,796.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,024 shares of company stock valued at $12,742,375. Insiders own 0.55% of the company’s stock.

Several analysts have recently issued reports on the company. Zacks Investment Research upgraded NextEra Energy from a “hold” rating to a “buy” rating and set a $191.00 price objective on the stock in a research note on Wednesday, August 8th. Howard Weil began coverage on NextEra Energy in a report on Tuesday, July 24th. They set a “sector perform” rating on the stock. Morgan Stanley raised their price target on NextEra Energy from $181.00 to $186.00 and gave the stock a “buy” rating in a report on Tuesday, September 11th. Barclays began coverage on NextEra Energy in a report on Tuesday, July 10th. They set an “equal weight” rating and a $182.00 price target on the stock. Finally, Scotiabank began coverage on NextEra Energy in a report on Tuesday, July 24th. They set a “hold” rating and a $70.00 price target on the stock. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $171.00.

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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.

Further Reading: What is a Leveraged Buyout (LBO)?

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Institutional Ownership by Quarter for NextEra Energy (NYSE:NEE)

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