Cresset Asset Management LLC Acquires 5,527 Shares of NextEra Energy, Inc. (NYSE:NEE)

Cresset Asset Management LLC lifted its holdings in NextEra Energy, Inc. (NYSE:NEE) by 1.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 292,627 shares of the utilities provider’s stock after acquiring an additional 5,527 shares during the quarter. Cresset Asset Management LLC’s holdings in NextEra Energy were worth $20,744,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NEE. Cim LLC increased its stake in shares of NextEra Energy by 0.5% in the fourth quarter. Cim LLC now owns 33,434 shares of the utilities provider’s stock worth $2,397,000 after buying an additional 158 shares during the period. Conning Inc. increased its stake in shares of NextEra Energy by 1.1% in the first quarter. Conning Inc. now owns 14,089 shares of the utilities provider’s stock worth $999,000 after buying an additional 160 shares during the period. Wealth Dimensions Group Ltd. increased its stake in shares of NextEra Energy by 4.3% in the fourth quarter. Wealth Dimensions Group Ltd. now owns 3,877 shares of the utilities provider’s stock worth $278,000 after buying an additional 161 shares during the period. Premier Path Wealth Partners LLC increased its stake in shares of NextEra Energy by 0.7% in the first quarter. Premier Path Wealth Partners LLC now owns 22,445 shares of the utilities provider’s stock worth $1,591,000 after buying an additional 166 shares during the period. Finally, Opal Wealth Advisors LLC increased its stake in shares of NextEra Energy by 2.9% in the first quarter. Opal Wealth Advisors LLC now owns 6,020 shares of the utilities provider’s stock worth $427,000 after buying an additional 168 shares during the period. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Stock Performance

Shares of NextEra Energy stock opened at $75.40 on Friday. The stock has a market cap of $155.27 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.60 and a beta of 0.63. The firm’s 50-day moving average is $72.75 and its 200 day moving average is $70.61. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $86.10. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.54 and a quick ratio of 0.45.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. The company had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. NextEra Energy’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 EPS. Sell-side analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, August 28th will be paid a $0.5665 dividend. The ex-dividend date is Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a yield of 3.0%. NextEra Energy’s payout ratio is presently 79.37%.

Analysts Set New Price Targets

A number of brokerages have issued reports on NEE. Wells Fargo & Company reduced their price objective on shares of NextEra Energy from $102.00 to $97.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Morgan Stanley reduced 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 report on Wednesday, June 18th. HSBC reduced their price objective on shares of NextEra Energy from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, July 11th. UBS Group reduced their price objective on shares of NextEra Energy from $94.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, May 23rd. Finally, BMO Capital Markets boosted their price objective on shares of NextEra Energy from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.42.

Insider Transactions at NextEra Energy

In related news, Treasurer James Michael May sold 2,177 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total value of $168,717.50. Following the transaction, the treasurer owned 27,662 shares in the company, valued at $2,143,805. The trade was a 7.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert Coffey sold 7,500 shares of the company’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $71.84, for a total transaction of $538,800.00. Following the transaction, the executive vice president owned 26,539 shares in the company, valued at $1,906,561.76. This represents a 22.03% decrease in their position. The disclosure for this sale can be found here. 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.