Spirit of America Management Corp NY Purchases 3,350 Shares of NextEra Energy, Inc. $NEE

Spirit of America Management Corp NY grew its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 6.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 53,575 shares of the utilities provider’s stock after acquiring an additional 3,350 shares during the quarter. Spirit of America Management Corp NY’s holdings in NextEra Energy were worth $3,719,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEE. GQG Partners LLC boosted its position in shares of NextEra Energy by 58.4% during the 1st quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider’s stock valued at $1,221,896,000 after acquiring an additional 6,352,798 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in NextEra Energy by 20.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider’s stock worth $1,165,748,000 after buying an additional 2,815,629 shares during the last quarter. Amundi lifted its position in NextEra Energy by 27.8% in the first quarter. Amundi now owns 12,200,990 shares of the utilities provider’s stock worth $878,447,000 after buying an additional 2,657,438 shares during the last quarter. Vanguard Group Inc. lifted its position in NextEra Energy by 1.0% in the first quarter. Vanguard Group Inc. now owns 207,322,418 shares of the utilities provider’s stock worth $14,697,086,000 after buying an additional 2,025,193 shares during the last quarter. Finally, Boston Partners lifted its position in NextEra Energy by 55.3% in the first quarter. Boston Partners now owns 5,300,839 shares of the utilities provider’s stock worth $374,639,000 after buying an additional 1,886,999 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. New Street Research set a $84.00 price target on NextEra Energy in a research report on Monday. Weiss Ratings restated a “hold (c+)” rating on shares of NextEra Energy in a research report on Tuesday. TD Cowen assumed coverage on NextEra Energy in a research report on Thursday. They issued a “buy” rating and a $98.00 price target for the company. Cowen assumed coverage on NextEra Energy in a research report on Wednesday. They issued a “buy” rating for the company. Finally, Barclays raised their price target on NextEra Energy from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $86.40.

NextEra Energy Stock Down 0.7%

NYSE:NEE opened at $84.48 on Friday. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month high of $86.74. The company has a market cap of $173.98 billion, a price-to-earnings ratio of 29.54, a price-to-earnings-growth ratio of 2.87 and a beta of 0.66. The stock has a fifty day simple moving average of $75.54 and a 200-day simple moving average of $72.22. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36.

NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same period last year, the company earned $0.96 earnings per share. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. Analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Thursday, August 28th were paid a dividend of $0.5665 per share. The ex-dividend date was Thursday, August 28th. This represents a $2.27 annualized dividend and a dividend yield of 2.7%. NextEra Energy’s dividend payout ratio (DPR) is currently 79.02%.

Insider Activity

In other news, EVP Michael Dunne sold 10,000 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $70.79, for a total transaction of $707,900.00. Following the transaction, the executive vice president owned 62,064 shares in the company, valued at approximately $4,393,510.56. This trade represents a 13.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Lemasney sold 846 shares of the firm’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $74.90, for a total value of $63,365.40. Following the transaction, the executive vice president owned 9,267 shares in the company, valued at approximately $694,098.30. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,705 shares of company stock valued at $2,446,490. Company insiders own 0.20% of the company’s stock.

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.