Terra Nova Asset Management LLC Has $1.28 Million Stake in NextEra Energy Inc (NEE)
Terra Nova Asset Management LLC lowered its holdings in NextEra Energy Inc (NYSE:NEE) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,360 shares of the utilities provider’s stock after selling 81 shares during the quarter. NextEra Energy makes up approximately 3.4% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 9th largest holding. Terra Nova Asset Management LLC’s holdings in NextEra Energy were worth $1,279,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Acima Private Wealth LLC bought a new stake in shares of NextEra Energy in the fourth quarter valued at approximately $39,000. Westside Investment Management Inc. raised its position in shares of NextEra Energy by 62.9% in the fourth quarter. Westside Investment Management Inc. now owns 259 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 100 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of NextEra Energy in the fourth quarter valued at approximately $46,000. PRW Wealth Management LLC bought a new stake in shares of NextEra Energy in the fourth quarter valued at approximately $49,000. Finally, Contravisory Investment Management Inc. raised its position in shares of NextEra Energy by 161.8% in the fourth quarter. Contravisory Investment Management Inc. now owns 288 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 178 shares during the period. 77.24% of the stock is currently owned by institutional investors.
NEE has been the topic of several research reports. Zacks Investment Research raised shares of NextEra Energy from a “hold” rating to a “buy” rating and set a $204.00 price target on the stock in a research report on Monday, December 17th. Guggenheim reissued a “buy” rating and issued a $205.00 price target on shares of NextEra Energy in a research report on Monday, January 7th. Credit Suisse Group upped their target price on shares of NextEra Energy from $186.00 to $193.00 and gave the stock an “outperform” rating in a report on Wednesday, December 12th. Barclays raised shares of NextEra Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $187.00 to $207.00 in a report on Wednesday, March 20th. They noted that the move was a valuation call. Finally, Morgan Stanley upped their target price on shares of NextEra Energy from $184.00 to $188.00 and gave the stock an “overweight” rating in a report on Tuesday, February 12th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $182.17.
NextEra Energy stock traded down $1.29 during midday trading on Wednesday, reaching $193.71. 18,630 shares of the stock were exchanged, compared to its average volume of 2,021,541. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $93.24 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 2.98 and a beta of 0.29. NextEra Energy Inc has a 52 week low of $155.06 and a 52 week high of $195.55.
NextEra Energy (NYSE:NEE) last posted its earnings results on Friday, January 25th. The utilities provider reported $1.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.51 by ($0.02). The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.84 billion. NextEra Energy had a return on equity of 10.01% and a net margin of 39.74%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. Research analysts forecast that NextEra Energy Inc will post 8.4 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 28th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Wednesday, February 27th. This is a positive change from NextEra Energy’s previous quarterly dividend of $1.11. NextEra Energy’s dividend payout ratio is 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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