McLean Asset Management Corp Invests $221,000 in NextEra Energy, Inc. $NEE

McLean Asset Management Corp purchased a new stake in NextEra Energy, Inc. (NYSE:NEE) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,029 shares of the utilities provider’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NEE. GQG Partners LLC boosted its holdings in NextEra Energy by 58.4% in the first quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider’s stock valued at $1,221,896,000 after purchasing an additional 6,352,798 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of NextEra Energy during the fourth quarter worth approximately $240,269,000. Charles Schwab Investment Management Inc. raised its stake in shares of NextEra Energy by 20.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider’s stock worth $1,165,748,000 after purchasing an additional 2,815,629 shares during the last quarter. Amundi raised its position in NextEra Energy by 27.8% in the first quarter. Amundi now owns 12,200,990 shares of the utilities provider’s stock worth $878,447,000 after acquiring an additional 2,657,438 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in NextEra Energy by 8,456.8% in the first quarter. GAMMA Investing LLC now owns 2,458,536 shares of the utilities provider’s stock valued at $174,286,000 after purchasing an additional 2,429,804 shares during the last quarter. 78.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Robert Coffey sold 7,500 shares of NextEra Energy stock in a transaction on Monday, July 28th. The stock was sold at an average price of $71.84, for a total transaction of $538,800.00. Following the transaction, the executive vice president owned 26,539 shares in the company, valued at approximately $1,906,561.76. The trade was a 22.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Treasurer James Michael May sold 2,177 shares of NextEra Energy stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total value of $168,717.50. Following the transaction, the treasurer owned 27,662 shares in the company, valued at $2,143,805. This represents a 7.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,677 shares of company stock worth $1,415,418 in the last three months. 0.20% of the stock is currently owned by insiders.

NextEra Energy Price Performance

Shares of NEE opened at $71.66 on Friday. The firm has a market cap of $147.57 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 2.46 and a beta of 0.65. The stock has a 50 day moving average of $73.10 and a 200-day moving average of $71.06. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $86.10.

NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, topping the consensus estimate of $1.01 by $0.04. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.52 billion. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The business’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 EPS. As a group, analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 28th will be issued a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Thursday, August 28th. NextEra Energy’s payout ratio is presently 79.37%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Mizuho set a $78.00 target price on NextEra Energy in a report on Thursday, August 21st. HSBC decreased their price objective on NextEra Energy from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Friday, July 11th. UBS Group decreased their price objective on NextEra Energy from $94.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. Melius Research upgraded NextEra Energy to a “strong-buy” rating in a report on Wednesday, August 20th. Finally, Morgan Stanley restated an “overweight” rating on shares of NextEra Energy in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.00.

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,natural gas, and other clean energy. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.