NextEra Energy, Inc. (NYSE:NEE) Stock Position Raised by Montecito Bank & Trust

Montecito Bank & Trust grew its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 7.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,575 shares of the utilities provider’s stock after purchasing an additional 1,211 shares during the period. Montecito Bank & Trust’s holdings in NextEra Energy were worth $1,486,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Jackson Square Capital LLC boosted its holdings in shares of NextEra Energy by 24.5% in the third quarter. Jackson Square Capital LLC now owns 82,857 shares of the utilities provider’s stock worth $7,004,000 after buying an additional 16,297 shares during the period. David J Yvars Group acquired a new position in NextEra Energy in the 3rd quarter worth approximately $220,000. Baugh & Associates LLC grew its position in NextEra Energy by 2.5% during the 3rd quarter. Baugh & Associates LLC now owns 94,276 shares of the utilities provider’s stock worth $7,638,000 after purchasing an additional 2,306 shares in the last quarter. Graypoint LLC raised its stake in NextEra Energy by 7.3% during the 3rd quarter. Graypoint LLC now owns 18,693 shares of the utilities provider’s stock valued at $1,580,000 after purchasing an additional 1,268 shares during the period. Finally, Financial Enhancement Group LLC boosted its position in shares of NextEra Energy by 3.9% in the third quarter. Financial Enhancement Group LLC now owns 51,503 shares of the utilities provider’s stock worth $4,354,000 after buying an additional 1,940 shares during the period. 78.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NEE shares. Barclays increased their target price on shares of NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Dbs Bank lowered NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Scotiabank lifted their price target on NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Guggenheim increased their price objective on NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price target on NextEra Energy from $91.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, NextEra Energy presently has a consensus rating of “Hold” and a consensus target price of $86.54.

NextEra Energy Price Performance

NYSE:NEE opened at $74.52 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33. The stock has a market cap of $153.24 billion, a P/E ratio of 22.05, a PEG ratio of 2.83 and a beta of 0.57. The company has a fifty day moving average price of $82.22 and a 200 day moving average price of $77.05. NextEra Energy, Inc. has a one year low of $53.81 and a one year high of $86.10.

NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The business had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $8.11 billion. During the same period last year, the business earned $0.94 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts anticipate that NextEra Energy, Inc. will post 3.41 earnings per share for the current year.

NextEra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s dividend payout ratio is 60.95%.

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.