Glen Harbor Capital Management LLC Has $33.31 Million Stake in NextEra Energy Inc (NEE)
Glen Harbor Capital Management LLC decreased its holdings in shares of NextEra Energy Inc (NYSE:NEE) by 2.8% during the 2nd quarter, Holdings Channel reports. The firm owned 199,410 shares of the utilities provider’s stock after selling 5,712 shares during the period. NextEra Energy accounts for about 0.7% of Glen Harbor Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. Glen Harbor Capital Management LLC’s holdings in NextEra Energy were worth $33,308,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Gables Capital Management Inc. acquired a new position in NextEra Energy in the first quarter valued at $105,000. Braun Bostich & Associates Inc. boosted its holdings in 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 during the last quarter. Centersquare Investment Management LLC acquired a new position in NextEra Energy in the first quarter valued at $150,000. Stelac Advisory Services LLC acquired a new position in NextEra Energy in the first quarter valued at $151,000. Finally, Howe & Rusling Inc. boosted its holdings in 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 during the last quarter. Institutional investors and hedge funds own 76.29% of the company’s stock.
NEE has been the topic of a number of research analyst reports. ValuEngine upgraded NextEra Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Mizuho initiated coverage on NextEra Energy in a report on Monday, August 13th. They issued a “buy” rating and a $184.00 target price on the stock. KeyCorp lifted their target price on NextEra Energy from $168.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, July 19th. Morgan Stanley reduced their target price on NextEra Energy from $172.00 to $169.00 and set an “overweight” rating on the stock in a report on Wednesday, June 13th. Finally, Zacks Investment Research cut NextEra Energy from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $167.08.
Shares of NEE opened at $170.03 on Wednesday. The stock has a market cap of $80.22 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 2.62 and a beta of 0.18. NextEra Energy Inc has a 12 month low of $144.70 and a 12 month high of $175.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.46 and a current ratio of 0.58.
NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Wednesday, July 25th. The utilities provider reported $2.11 EPS for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.05. The company had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.51 billion. NextEra Energy had a return on equity of 10.49% and a net margin of 49.10%. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 earnings per share. equities research analysts predict that NextEra Energy Inc will post 7.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Thursday, August 30th will be paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Wednesday, August 29th. NextEra Energy’s dividend payout ratio is presently 66.27%.
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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.
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