Contravisory Investment Management Inc. Grows Stake in NextEra Energy, Inc. (NYSE:NEE)

Contravisory Investment Management Inc. raised its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 0.6% in the fourth quarter, HoldingsChannel reports. The firm owned 90,406 shares of the utilities provider’s stock after acquiring an additional 579 shares during the period. Contravisory Investment Management Inc.’s holdings in NextEra Energy were worth $6,481,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of NextEra Energy by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,371,154 shares of the utilities provider’s stock worth $309,595,000 after purchasing an additional 442,086 shares during the period. One Capital Management LLC grew its position in shares of NextEra Energy by 329.0% in the 2nd quarter. One Capital Management LLC now owns 13,914 shares of the utilities provider’s stock worth $985,000 after buying an additional 10,671 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its position in NextEra Energy by 2.8% during the second quarter. Pekin Hardy Strauss Inc. now owns 11,199 shares of the utilities provider’s stock valued at $793,000 after acquiring an additional 300 shares during the last quarter. Edgestream Partners L.P. grew its stake in NextEra Energy by 485.1% during the 2nd quarter. Edgestream Partners L.P. now owns 18,373 shares of the utilities provider’s stock worth $1,301,000 after buying an additional 15,233 shares during the last quarter. Finally, Sargent Investment Group LLC purchased a new stake in shares of NextEra Energy during the second quarter worth about $223,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Price Performance

Shares of NextEra Energy stock opened at $69.25 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 business has a 50 day simple moving average of $73.79 and a two-hundred day simple moving average of $77.26. The stock has a market capitalization of $142.41 billion, a P/E ratio of 20.49, a PEG ratio of 2.26 and a beta of 0.58. NextEra Energy, Inc. has a 12 month low of $53.95 and a 12 month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The business had revenue of $7.57 billion during the quarter, compared to analyst estimates 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 for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 earnings per share. As a group, analysts predict that NextEra Energy, Inc. will post 3.41 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Friday, November 22nd. NextEra Energy’s dividend payout ratio is presently 60.95%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NEE shares. Jefferies Financial Group began coverage on shares of NextEra Energy in a research note on Thursday, September 19th. They set a “hold” rating and a $87.00 price target on the stock. Dbs Bank cut NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. Royal Bank of Canada downgraded shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Morgan Stanley cut their price objective on shares of NextEra Energy from $95.00 to $94.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, BMO Capital Markets boosted their target price on shares of NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $87.15.

Insider Buying and Selling

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,007 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total transaction of $302,808.99. Following the completion of the transaction, the executive vice president now owns 15,792 shares of the company’s stock, valued at $1,193,401.44. This trade represents a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate 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.