Modus Advisors LLC Boosts Stake in NextEra Energy, Inc. (NYSE:NEE)

Modus Advisors LLC boosted its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,498 shares of the utilities provider’s stock after acquiring an additional 530 shares during the quarter. Modus Advisors LLC’s holdings in NextEra Energy were worth $1,564,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Legal & General Group Plc lifted its holdings in shares of NextEra Energy by 0.7% during the 2nd quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock valued at $1,508,155,000 after purchasing an additional 143,748 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of 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 valued at $579,097,000 after purchasing an additional 691,341 shares in the last quarter. Nordea Investment Management AB increased its stake in NextEra Energy by 22.3% during the 1st quarter. Nordea Investment Management AB now owns 6,961,556 shares of the utilities provider’s stock worth $443,834,000 after buying an additional 1,268,900 shares in the last quarter. Principal Financial Group Inc. increased its stake in NextEra Energy by 7.2% during the 2nd quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider’s stock worth $431,966,000 after buying an additional 409,708 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in NextEra Energy by 6.9% during 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. Institutional investors own 78.72% of the company’s stock.

Insiders Place Their Bets

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.97, for a total transaction of $50,646.26. Following the completion of the sale, the executive vice president now owns 100 shares of the company’s stock, valued at approximately $7,697. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NEE. Dbs Bank cut NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. JPMorgan Chase & Co. upped their price objective 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 increased their target price on NextEra Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Jefferies Financial Group initiated coverage on NextEra Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $87.00 target price on the stock. Finally, BMO Capital Markets upped their price objective on shares of NextEra Energy from $79.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $83.07.

NextEra Energy Price Performance

Shares of NEE stock traded up $0.87 during mid-day trading on Thursday, reaching $81.45. The company’s stock had a trading volume of 2,744,078 shares, compared to its average volume of 10,829,697. The company has a market cap of $167.34 billion, a P/E ratio of 22.29, a PEG ratio of 3.08 and a beta of 0.56. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.41 and a current ratio of 0.49. The firm’s 50-day moving average is $81.07 and its two-hundred day moving average is $74.55. NextEra Energy, Inc. has a 1-year low of $50.95 and a 1-year high of $86.10.

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

NextEra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.515 dividend. The ex-dividend date was Friday, August 30th. This represents a $2.06 annualized dividend and a dividend yield of 2.53%. NextEra Energy’s dividend payout ratio (DPR) is presently 56.13%.

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,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.