Cypress Capital Management LLC Invests $228,000 in NextEra Energy, Inc. (NEE) Stock
Cypress Capital Management LLC acquired a new position in shares of NextEra Energy, Inc. (NYSE:NEE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,625 shares of the utilities provider’s stock, valued at approximately $228,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Hanson McClain Inc. lifted its holdings in NextEra Energy by 6.0% during the 2nd quarter. Hanson McClain Inc. now owns 763 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 43 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in NextEra Energy by 8.9% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 871 shares of the utilities provider’s stock worth $112,000 after purchasing an additional 71 shares in the last quarter. Highstreet Asset Management Inc. purchased a new stake in NextEra Energy during the 2nd quarter worth about $134,000. Pacific Center for Financial Services lifted its holdings in NextEra Energy by 50.1% during the 2nd quarter. Pacific Center for Financial Services now owns 1,139 shares of the utilities provider’s stock worth $160,000 after purchasing an additional 380 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in NextEra Energy by 20.5% during the 2nd quarter. Manchester Capital Management LLC now owns 1,233 shares of the utilities provider’s stock worth $173,000 after purchasing an additional 210 shares in the last quarter. 75.23% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on NEE. Bank of America Corporation initiated coverage on NextEra Energy in a report on Tuesday, October 24th. They set a “buy” rating and a $166.00 price objective on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $156.00 target price on shares of NextEra Energy in a research note on Tuesday, November 7th. Zacks Investment Research lowered NextEra Energy from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. KeyCorp restated a “buy” rating and issued a $155.00 target price on shares of NextEra Energy in a research note on Friday, September 1st. Finally, J P Morgan Chase & Co set a $169.00 target price on NextEra Energy and gave the stock a “hold” rating in a research note on Thursday, October 12th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. NextEra Energy has a consensus rating of “Buy” and an average target price of $155.38.
In related news, EVP John W. Ketchum sold 2,900 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $150.00, for a total transaction of $435,000.00. Following the transaction, the executive vice president now directly owns 18,786 shares in the company, valued at approximately $2,817,900. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James L. Robo sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $151.52, for a total value of $4,545,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,385 shares of company stock worth $9,748,482. 0.53% of the stock is owned by corporate insiders.
NextEra Energy, Inc. (NEE) opened at $156.78 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $72,986.90, a PE ratio of 23.26, a PEG ratio of 3.09 and a beta of 0.31. NextEra Energy, Inc. has a 1 year low of $110.49 and a 1 year high of $157.00.
NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.85 EPS for the quarter, beating the consensus estimate of $1.77 by $0.08. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.89 billion. NextEra Energy had a return on equity of 11.86% and a net margin of 24.81%. The company’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned $1.74 EPS. sell-side analysts anticipate that NextEra Energy, Inc. will post 6.73 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be given a dividend of $0.9825 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $3.93 annualized dividend and a yield of 2.51%. NextEra Energy’s payout ratio is 44.16%.
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NextEra Energy Company Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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