NextEra Energy, Inc. (NYSE:NEE) Shares Purchased by Oak Asset Management LLC

Oak Asset Management LLC grew its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 13.8% in the first quarter, HoldingsChannel reports. The fund owned 7,899 shares of the utilities provider’s stock after buying an additional 960 shares during the quarter. Oak Asset Management LLC’s holdings in NextEra Energy were worth $505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GSG Advisors LLC lifted its stake in shares of NextEra Energy by 2.6% during the first quarter. GSG Advisors LLC now owns 6,509 shares of the utilities provider’s stock valued at $407,000 after acquiring an additional 162 shares during the period. Greenfield Savings Bank lifted its stake in shares of NextEra Energy by 0.5% during the fourth quarter. Greenfield Savings Bank now owns 32,220 shares of the utilities provider’s stock valued at $1,957,000 after acquiring an additional 163 shares during the period. Bay Harbor Wealth Management LLC lifted its stake in shares of NextEra Energy by 22.7% during the fourth quarter. Bay Harbor Wealth Management LLC now owns 930 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 172 shares during the period. MKT Advisors LLC lifted its stake in shares of NextEra Energy by 2.9% during the fourth quarter. MKT Advisors LLC now owns 6,233 shares of the utilities provider’s stock valued at $387,000 after acquiring an additional 173 shares during the period. Finally, First Pacific Financial lifted its stake in shares of NextEra Energy by 2.0% during the fourth quarter. First Pacific Financial now owns 8,885 shares of the utilities provider’s stock valued at $540,000 after acquiring an additional 177 shares during the period. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Stock Performance

NEE opened at $70.81 on Monday. NextEra Energy, Inc. has a 12-month low of $47.15 and a 12-month high of $80.47. The stock has a market cap of $145.48 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 2.42 and a beta of 0.54. The business has a 50 day moving average of $73.25 and a 200-day moving average of $64.52. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.12.

NextEra Energy (NYSE:NEE) last announced its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share 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 company 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 earned $0.84 earnings per share. The firm’s quarterly revenue was down 14.7% compared to the same quarter last year. On average, equities research analysts expect that NextEra Energy, Inc. will post 3.4 earnings per share for the current year.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Monday, June 3rd. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

Analyst Ratings Changes

A number of equities research analysts recently commented on NEE shares. Mizuho downgraded NextEra Energy from a “buy” rating to a “neutral” rating and set a $71.00 price objective for the company. in a report on Wednesday, June 12th. Scotiabank upped their price objective on NextEra Energy from $69.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday, April 22nd. BMO Capital Markets upped their price objective on NextEra Energy from $78.00 to $79.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Royal Bank of Canada increased their price target on NextEra Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. increased their price target on NextEra Energy from $76.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy has a consensus rating of “Moderate Buy” and an average target price of $77.57.

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.