SlateStone Wealth LLC Invests $642,000 in NextEra Energy Inc (NEE) Stock
SlateStone Wealth LLC purchased a new position in NextEra Energy Inc (NYSE:NEE) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,692 shares of the utilities provider’s stock, valued at approximately $642,000.
A number of other institutional investors have also modified their holdings of NEE. Oregon Public Employees Retirement Fund increased its stake in NextEra Energy by 17,067.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,822,408 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 8,771,018 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in NextEra Energy by 16,992.0% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,864,569 shares of the utilities provider’s stock worth $11,125,000 after purchasing an additional 1,853,660 shares in the last quarter. BlackRock Inc. increased its stake in NextEra Energy by 2.4% in the 4th quarter. BlackRock Inc. now owns 37,651,697 shares of the utilities provider’s stock worth $6,544,616,000 after purchasing an additional 886,301 shares in the last quarter. Capital International Investors purchased a new position in NextEra Energy in the 3rd quarter worth about $142,633,000. Finally, Vanguard Group Inc increased its stake in NextEra Energy by 2.0% in the 3rd quarter. Vanguard Group Inc now owns 41,214,999 shares of the utilities provider’s stock worth $6,907,634,000 after purchasing an additional 815,916 shares in the last quarter. Hedge funds and other institutional investors own 75.98% of the company’s stock.
A number of brokerages recently weighed in on NEE. Zacks Investment Research raised NextEra Energy from a “hold” rating to a “buy” rating and set a $214.00 price target on the stock in a research note on Friday. Barclays lifted their price target on NextEra Energy from $182.00 to $187.00 and gave the stock a “hold” rating in a research note on Monday, November 19th. Credit Suisse Group lifted their target price on NextEra Energy from $186.00 to $193.00 and gave the company an “outperform” rating in a research note on Wednesday, December 12th. Guggenheim reaffirmed a “buy” rating and set a $205.00 target price on shares of NextEra Energy in a research note on Monday, January 7th. Finally, Morgan Stanley lifted their target price on NextEra Energy from $184.00 to $188.00 and gave the company an “overweight” rating in a research note on Tuesday, February 12th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. NextEra Energy currently has an average rating of “Buy” and a consensus price target of $180.50.
NYSE:NEE opened at $191.24 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.29 and a current ratio of 0.36. NextEra Energy Inc has a fifty-two week low of $155.06 and a fifty-two week high of $192.16. The stock has a market cap of $91.32 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 2.93 and a beta of 0.29.
NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Friday, January 25th. The utilities provider reported $1.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by ($0.02). The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.84 billion. NextEra Energy had a net margin of 39.74% and a return on equity of 10.01%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. As a group, equities analysts forecast that NextEra Energy Inc will post 8.4 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 28th were paid a $1.25 dividend. This is a boost from NextEra Energy’s previous quarterly dividend of $1.11. The ex-dividend date was Wednesday, February 27th. This represents a $5.00 annualized dividend and a dividend yield of 2.61%. NextEra Energy’s payout ratio is presently 64.94%.
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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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.
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