Summit Global Investments Acquires New Position in NextEra Energy, Inc. (NYSE:NEE)

Summit Global Investments acquired a new stake in NextEra Energy, Inc. (NYSE:NEE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,109 shares of the utilities provider’s stock, valued at approximately $223,000.

A number of other institutional investors have also modified their holdings of NEE. Burkett Financial Services LLC lifted its stake in NextEra Energy by 1,229.6% in the fourth quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 332 shares during the period. Sugar Maple Asset Management LLC purchased a new stake in shares of NextEra Energy in the 4th quarter worth approximately $28,000. Quarry LP bought a new position in shares of NextEra Energy during the third quarter valued at approximately $33,000. Luken Investment Analytics LLC purchased a new position in NextEra Energy during the fourth quarter valued at approximately $36,000. Finally, Harvest Fund Management Co. Ltd raised its stake in NextEra Energy by 2,482.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 594 shares of the utilities provider’s stock worth $50,000 after buying an additional 571 shares in the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on NEE shares. Evercore ISI dropped their target price on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a research report on Monday, January 27th. BMO Capital Markets raised their price objective on NextEra Energy from $82.00 to $84.00 in a research report on Monday, January 27th. Jefferies Financial Group reduced their target price on shares of NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. JPMorgan Chase & Co. raised their price target on shares of NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Finally, Guggenheim reiterated a “buy” rating and set a $89.00 price objective on shares of NextEra Energy in a research note on Thursday, March 20th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $85.92.

Insider Activity

In related news, CAO James Michael May sold 2,383 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total transaction of $162,258.47. Following the completion of the transaction, the chief accounting officer now directly owns 27,427 shares in the company, valued at $1,867,504.43. The trade was a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

NextEra Energy Price Performance

NYSE NEE opened at $68.70 on Wednesday. The company has a market cap of $141.32 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.45 and a beta of 0.58. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.47 and a quick ratio of 0.38. The stock’s fifty day moving average price is $70.70 and its 200 day moving average price is $75.34. NextEra Energy, Inc. has a 1 year low of $61.30 and a 1 year high of $86.10.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. As a group, equities research analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a yield of 3.30%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, February 28th. NextEra Energy’s payout ratio is presently 67.06%.

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.