Sawgrass Asset Management LLC Takes $291,000 Position in NextEra Energy, Inc. (NYSE:NEE)

Sawgrass Asset Management LLC acquired a new stake in NextEra Energy, Inc. (NYSE:NEE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,797 shares of the utilities provider’s stock, valued at approximately $291,000.

Other hedge funds have also modified their holdings of the company. BOK Financial Private Wealth Inc. acquired a new stake in shares of NextEra Energy in the fourth quarter valued at $29,000. Alaska Permanent Fund Corp raised its stake in shares of NextEra Energy by 59.8% in the third quarter. Alaska Permanent Fund Corp now owns 556 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 208 shares in the last quarter. Stuart Chaussee & Associates Inc. raised its stake in shares of NextEra Energy by 315.4% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 410 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in NextEra Energy in the fourth quarter valued at $34,000. Finally, Rakuten Securities Inc. acquired a new stake in NextEra Energy in the fourth quarter valued at $34,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on NEE. Mizuho raised their price target on NextEra Energy from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Barclays began coverage on NextEra Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $66.00 price target on the stock. BMO Capital Markets raised their price target on NextEra Energy from $72.00 to $78.00 and gave the company an “outperform” rating in a research note on Tuesday. Scotiabank raised their price target on NextEra Energy from $69.00 to $73.00 and gave the company a “sector outperform” rating in a research note on Monday, April 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $74.00 price target on shares of NextEra Energy in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.93.

NextEra Energy Stock Performance

Shares of NYSE NEE traded up $0.70 during midday trading on Tuesday, reaching $71.95. 13,416,327 shares of the company were exchanged, compared to its average volume of 11,931,911. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.12. NextEra Energy, Inc. has a 1 year low of $47.15 and a 1 year high of $78.53. The stock has a fifty day simple moving average of $62.65 and a 200 day simple moving average of $59.94. The stock has a market cap of $147.82 billion, a P/E ratio of 19.60, a PEG ratio of 2.58 and a beta of 0.50.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter last year, the company posted $0.84 earnings per share. The business’s revenue was down 14.7% on a year-over-year basis. On average, research analysts forecast that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Monday, February 26th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s dividend payout ratio (DPR) is currently 56.13%.

NextEra Energy Company 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.