Friedberg Investment Management Grows Holdings in NextEra Energy, Inc. (NEE)
Friedberg Investment Management raised its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 14.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,515 shares of the company’s stock after purchasing an additional 4,601 shares during the period. NextEra Energy makes up approximately 2.3% of Friedberg Investment Management’s holdings, making the stock its 15th largest holding. Friedberg Investment Management’s holdings in NextEra Energy were worth $5,257,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new stake in NextEra Energy during the second quarter valued at about $1,289,000. Almanack Investment Partners LLC. raised its position in NextEra Energy by 64.6% during the second quarter. Almanack Investment Partners LLC. now owns 2,163 shares of the company’s stock valued at $303,000 after purchasing an additional 849 shares in the last quarter. Salem Investment Counselors Inc. raised its position in NextEra Energy by 12.7% during the first quarter. Salem Investment Counselors Inc. now owns 9,001 shares of the company’s stock valued at $1,154,000 after purchasing an additional 1,012 shares in the last quarter. NGAM Advisors L.P. raised its position in NextEra Energy by 8.9% during the second quarter. NGAM Advisors L.P. now owns 63,026 shares of the company’s stock valued at $8,832,000 after purchasing an additional 5,175 shares in the last quarter. Finally, Capital One National Association raised its position in NextEra Energy by 30.9% during the second quarter. Capital One National Association now owns 21,617 shares of the company’s stock valued at $3,030,000 after purchasing an additional 5,099 shares in the last quarter. Institutional investors and hedge funds own 75.23% of the company’s stock.
In related news, EVP Charles E. Sieving sold 30,485 shares of the firm’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of C$146.56, for a total value of C$4,467,881.60. Following the sale, the executive vice president now directly owns 78,167 shares of the company’s stock, valued at C$11,456,155.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James L. Robo sold 30,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of C$151.52, for a total value of C$4,545,600.00. The disclosure for this sale can be found here. Insiders sold 65,385 shares of company stock worth $9,748,482 over the last three months. 0.53% of the stock is owned by insiders.
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A number of equities research analysts have weighed in on the company. Goldman Sachs Group, Inc. (The) assumed coverage on NextEra Energy in a research report on Monday, July 24th. They set a “buy” rating and a $160.00 price target on the stock. KeyCorp restated a “buy” rating and set a $155.00 price target on shares of NextEra Energy in a research report on Thursday, October 12th. BidaskClub upgraded NextEra Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Bank of America Corporation assumed coverage on NextEra Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $166.00 price target on the stock. Finally, Zacks Investment Research upgraded NextEra Energy from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of C$155.38.
NextEra Energy, Inc. (NYSE NEE) opened at C$155.16 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.49 and a current ratio of 0.61. The stock 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 12 month low of C$110.49 and a 12 month high of C$156.80.
NextEra Energy (NYSE:NEE) last posted its earnings results on Thursday, October 26th. The company reported C$1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.77 by C$0.08. The company had revenue of C$4.81 billion for the quarter, compared to analysts’ expectations of C$4.89 billion. NextEra Energy had a return on equity of 11.86% and a net margin of 24.81%. NextEra Energy’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned $1.74 earnings per share. sell-side analysts anticipate that NextEra Energy, Inc. will post 6.73 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be paid a $0.9825 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $3.93 annualized dividend and a dividend yield of 2.53%. NextEra Energy’s payout ratio is presently 44.16%.
NextEra Energy 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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