Norges Bank bought a new stake in NextEra Energy, Inc. (NYSE:NEE – Free Report) during the fourth quarter, HoldingsChannel reports. The fund bought 35,081,308 shares of the utilities provider’s stock, valued at approximately $2,816,327,000.
Other institutional investors have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new position in NextEra Energy in the fourth quarter valued at $25,000. Anfield Capital Management LLC increased its stake in NextEra Energy by 692.3% in the fourth quarter. Anfield Capital Management LLC now owns 309 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 270 shares during the last quarter. Strive Asset Management LLC bought a new position in NextEra Energy in the third quarter valued at $29,000. Quest 10 Wealth Builders Inc. increased its stake in NextEra Energy by 135.4% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 379 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 218 shares during the last quarter. Finally, Joseph Group Capital Management bought a new position in NextEra Energy in the fourth quarter valued at $32,000. Institutional investors own 78.72% of the company’s stock.
NextEra Energy Stock Performance
NYSE NEE opened at $86.96 on Friday. The company has a 50-day simple moving average of $92.25 and a two-hundred day simple moving average of $88.22. The company has a quick ratio of 0.44, a current ratio of 0.54 and a debt-to-equity ratio of 1.41. NextEra Energy, Inc. has a 12-month low of $66.77 and a 12-month high of $98.75. The firm has a market cap of $181.33 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.56 and a beta of 0.73.
NextEra Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.6232 per share. This represents a $2.49 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, June 5th. NextEra Energy’s dividend payout ratio is currently 63.36%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. Seaport Research Partners reduced their target price on NextEra Energy from $56.00 to $55.00 and set a “sell” rating on the stock in a research note on Monday, February 2nd. Weiss Ratings raised NextEra Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on NextEra Energy from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Wells Fargo & Company set a $102.00 price target on shares of NextEra Energy and gave the company an “overweight” rating in a research report on Friday, April 24th. Finally, DA Davidson upped their price target on shares of NextEra Energy from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, NextEra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $99.20.
Read Our Latest Stock Report on NextEra Energy
Insider Transactions at NextEra Energy
In other news, EVP Terrell Kirk Crews II sold 19,672 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $90.27, for a total transaction of $1,775,791.44. Following the completion of the sale, the executive vice president directly owned 73,857 shares in the company, valued at approximately $6,667,071.39. This represents a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Treasurer James Michael May sold 7,161 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $90.27, for a total transaction of $646,423.47. Following the sale, the treasurer owned 26,719 shares of the company’s stock, valued at approximately $2,411,924.13. This represents a 21.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 31,767 shares of company stock worth $2,881,077. Company insiders own 0.18% of the company’s stock.
About NextEra Energy
NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.
NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.
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