AlTi Global Inc. Boosts Stock Holdings in NextEra Energy, Inc. (NYSE:NEE)

AlTi Global Inc. raised its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 37.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,623 shares of the utilities provider’s stock after acquiring an additional 2,086 shares during the quarter. AlTi Global Inc.’s holdings in NextEra Energy were worth $540,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NEE. Alley Investment Management Company LLC boosted its stake in NextEra Energy by 17.4% during the 2nd quarter. Alley Investment Management Company LLC now owns 188,428 shares of the utilities provider’s stock worth $13,343,000 after purchasing an additional 27,990 shares during the last quarter. ELCO Management Co. LLC lifted its stake in shares of NextEra Energy by 21.9% in the second quarter. ELCO Management Co. LLC now owns 28,031 shares of the utilities provider’s stock worth $1,985,000 after buying an additional 5,034 shares in the last quarter. Fred Alger Management LLC boosted its position in NextEra Energy by 267.2% during the second quarter. Fred Alger Management LLC now owns 179,801 shares of the utilities provider’s stock worth $12,732,000 after acquiring an additional 130,829 shares during the last quarter. Insigneo Advisory Services LLC boosted its position in NextEra Energy by 5.9% during the second quarter. Insigneo Advisory Services LLC now owns 28,806 shares of the utilities provider’s stock worth $2,209,000 after acquiring an additional 1,605 shares during the last quarter. Finally, Royal Capital Wealth Management LLC raised its holdings in NextEra Energy by 8.8% in the 2nd quarter. Royal Capital Wealth Management LLC now owns 12,344 shares of the utilities provider’s stock valued at $874,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Price Performance

NextEra Energy stock opened at $84.62 on Thursday. 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 company has a market capitalization of $173.85 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 3.08 and a beta of 0.56. The company’s 50 day simple moving average is $78.86 and its 200-day simple moving average is $72.84. NextEra Energy, Inc. has a 1 year low of $47.15 and a 1 year high of $85.56.

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

NextEra Energy Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on NEE shares. Morgan Stanley boosted their target price on NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on NextEra Energy from $91.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. BMO Capital Markets raised their target price on NextEra Energy from $79.00 to $83.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Scotiabank boosted their price target on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group initiated coverage on shares of NextEra Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $87.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $82.07.

Insider Activity

In related news, EVP Nicole J. Daggs sold 658 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 100 shares in the company, valued at $7,697. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

About NextEra Energy

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.