NextEra Energy, Inc. (NYSE:NEE) Position Increased by Fred Alger Management LLC

Fred Alger Management LLC grew its position in NextEra Energy, Inc. (NYSE:NEE) by 267.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,801 shares of the utilities provider’s stock after buying an additional 130,829 shares during the quarter. Fred Alger Management LLC’s holdings in NextEra Energy were worth $12,732,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in NextEra Energy by 9.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,178,185 shares of the utilities provider’s stock worth $579,097,000 after acquiring an additional 691,341 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of NextEra Energy by 22.3% during the first quarter. Nordea Investment Management AB now owns 6,961,556 shares of the utilities provider’s stock worth $443,834,000 after purchasing an additional 1,268,900 shares during the period. 1832 Asset Management L.P. grew its position in NextEra Energy by 10.5% during the fourth quarter. 1832 Asset Management L.P. now owns 6,631,121 shares of the utilities provider’s stock valued at $402,774,000 after purchasing an additional 629,032 shares in the last quarter. Principal Financial Group Inc. increased its stake in NextEra Energy by 7.2% in the 2nd quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider’s stock valued at $431,966,000 after buying an additional 409,708 shares during the period. Finally, Bahl & Gaynor Inc. lifted its position in NextEra Energy by 6.9% in the 2nd quarter. Bahl & Gaynor Inc. now owns 5,981,760 shares of the utilities provider’s stock worth $423,568,000 after buying an additional 388,149 shares in the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Stock Performance

NEE opened at $84.62 on Thursday. NextEra Energy, Inc. has a 12-month low of $47.15 and a 12-month high of $85.56. The firm has a market capitalization of $173.85 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 3.08 and a beta of 0.56. The stock’s 50 day moving average price is $78.86 and its two-hundred day moving average price is $72.84. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 1.15.

NextEra Energy (NYSE:NEE) last announced its earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, equities analysts forecast that NextEra Energy, Inc. will post 3.4 earnings per share for the current year.

NextEra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Friday, August 30th. NextEra Energy’s payout ratio is presently 56.13%.

Insider Buying and Selling

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.97, for a total value of $50,646.26. Following the completion of the sale, the executive vice president now owns 100 shares in the company, valued at approximately $7,697. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NEE has been the topic of several research analyst reports. Citigroup boosted their price target on shares of NextEra Energy from $69.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. upped their target price on NextEra Energy from $91.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley raised their price target on NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wells Fargo & Company boosted their price target on NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Finally, Jefferies Financial Group assumed coverage on shares of NextEra Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $87.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.07.

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.