6 Meridian Boosts Stake in NextEra Energy Inc (NEE)
6 Meridian raised its stake in shares of NextEra Energy Inc (NYSE:NEE) by 31.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 127,481 shares of the utilities provider’s stock after buying an additional 30,580 shares during the quarter. NextEra Energy comprises 2.5% of 6 Meridian’s portfolio, making the stock its 3rd biggest position. 6 Meridian’s holdings in NextEra Energy were worth $24,645,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its position in shares of NextEra Energy by 17,067.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,822,408 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 8,771,018 shares during the period. Norges Bank acquired a new position in shares of NextEra Energy in the 4th quarter valued at approximately $1,172,014,000. Rehmann Capital Advisory Group grew its position in shares of NextEra Energy by 16,992.0% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,864,569 shares of the utilities provider’s stock valued at $11,125,000 after purchasing an additional 1,853,660 shares during the period. GQG Partners LLC acquired a new position in shares of NextEra Energy in the 4th quarter valued at approximately $264,629,000. Finally, BlackRock Inc. grew its position in shares of NextEra Energy by 2.4% in the 4th quarter. BlackRock Inc. now owns 37,651,697 shares of the utilities provider’s stock valued at $6,544,616,000 after purchasing an additional 886,301 shares during the period. Institutional investors own 77.27% of the company’s stock.
Several equities analysts recently issued reports on NEE shares. Barclays upgraded NextEra Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $187.00 to $207.00 in a research report on Wednesday, March 20th. They noted that the move was a valuation call. Zacks Investment Research upgraded NextEra Energy from a “hold” rating to a “buy” rating and set a $193.00 price objective for the company in a research report on Wednesday, January 30th. Morgan Stanley boosted their price objective on NextEra Energy from $184.00 to $188.00 and gave the company an “overweight” rating in a research report on Tuesday, February 12th. Guggenheim reiterated a “buy” rating and issued a $205.00 price objective on shares of NextEra Energy in a research report on Monday, January 7th. Finally, Credit Suisse Group boosted their price objective on NextEra Energy from $186.00 to $193.00 and gave the company an “outperform” rating in a research report on Wednesday, December 12th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $183.08.
NextEra Energy (NYSE:NEE) last released its earnings results on Friday, January 25th. The utilities provider reported $1.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by ($0.02). The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.84 billion. NextEra Energy had a net margin of 39.74% and a return on equity of 10.01%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. As a group, equities analysts expect that NextEra Energy Inc will post 8.4 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 28th were paid a $1.25 dividend. This is a boost from NextEra Energy’s previous quarterly dividend of $1.11. The ex-dividend date was Wednesday, February 27th. This represents a $5.00 annualized dividend and a yield of 2.65%. NextEra Energy’s payout ratio is presently 64.94%.
In other NextEra Energy news, Director Rudy E. Schupp sold 1,600 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $191.52, for a total value of $306,432.00. Following the sale, the director now owns 19,210 shares in the company, valued at approximately $3,679,099.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah H. Caplan sold 3,054 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $183.50, for a total value of $560,409.00. Following the completion of the sale, the executive vice president now owns 22,597 shares in the company, valued at approximately $4,146,549.50. The disclosure for this sale can be found here. Insiders sold a total of 173,773 shares of company stock worth $33,097,211 in the last 90 days. Company insiders own 0.55% of the company’s stock.
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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.
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