Cornerstone Advisors LLC Raises Stake in NextEra Energy, Inc. (NYSE:NEE)

Cornerstone Advisors LLC increased its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 49.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,300 shares of the utilities provider’s stock after acquiring an additional 48,500 shares during the period. Cornerstone Advisors LLC’s holdings in NextEra Energy were worth $12,367,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEE. Reston Wealth Management LLC purchased a new stake in shares of NextEra Energy in the 3rd quarter worth approximately $27,000. Semmax Financial Advisors Inc. grew its stake in shares of NextEra Energy by 197.4% in the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 225 shares during the last quarter. Proffitt & Goodson Inc. increased its holdings in shares of NextEra Energy by 64.0% during the second quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 144 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of NextEra Energy in the 2nd quarter worth about $33,000. Finally, Maryland Capital Advisors Inc. bought a new position in NextEra Energy in the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on NEE shares. Guggenheim lifted their target price on shares of NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. BMO Capital Markets upped their price objective on NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Bank of America increased their target price on NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Barclays boosted their price target on NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. increased their price objective on NextEra Energy from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $86.54.

NextEra Energy Stock Performance

NEE opened at $76.87 on Thursday. The company’s 50 day moving average is $81.20 and its 200 day moving average is $77.64. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11. The company has a market cap of $158.08 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 2.78 and a beta of 0.57. NextEra Energy, Inc. has a 12-month low of $53.95 and a 12-month high of $86.10.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. The business had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $8.11 billion. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 EPS. On average, equities research analysts predict that NextEra Energy, Inc. will post 3.41 EPS for the current year.

NextEra Energy Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s dividend payout ratio (DPR) is currently 60.95%.

Insider Activity

In other news, EVP Nicole J. Daggs sold 4,007 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total value of $302,808.99. Following the completion of the sale, the executive vice president now directly owns 15,792 shares of the company’s stock, valued at $1,193,401.44. This represents a 20.24 % decrease in their ownership of the stock. The sale 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 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.