GAMMA Investing LLC Grows Stock Position in NextEra Energy, Inc. (NYSE:NEE)

GAMMA Investing LLC increased its holdings in NextEra Energy, Inc. (NYSE:NEE) by 8,456.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,458,536 shares of the utilities provider’s stock after purchasing an additional 2,429,804 shares during the quarter. GAMMA Investing LLC’s holdings in NextEra Energy were worth $174,286,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bellwether Advisors LLC purchased a new stake in shares of NextEra Energy in the 4th quarter worth about $30,000. WealthTrak Capital Management LLC purchased a new position in NextEra Energy in the 4th quarter valued at about $33,000. Copia Wealth Management purchased a new position in NextEra Energy in the 4th quarter valued at about $36,000. Midwest Capital Advisors LLC purchased a new position in NextEra Energy in the 4th quarter valued at about $44,000. Finally, Promus Capital LLC purchased a new position in NextEra Energy in the 4th quarter valued at about $45,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Charles E. Sieving sold 23,684 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the transaction, the executive vice president now directly owns 196,817 shares in the company, valued at $13,777,190. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on NEE. BMO Capital Markets reduced their target price on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. upped their target price 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. Erste Group Bank lowered shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Morgan Stanley restated an “overweight” rating on shares of NextEra Energy in a report on Wednesday, April 23rd. Finally, UBS Group cut their price objective on shares of NextEra Energy from $94.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, May 23rd. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, NextEra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $83.50.

NextEra Energy Stock Up 2.1%

NEE opened at $70.47 on Friday. The firm has a 50 day moving average price of $68.40 and a 200 day moving average price of $70.79. The company has a market cap of $145.07 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 2.45 and a beta of 0.69. 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 1.20, a quick ratio of 0.38 and a current ratio of 0.47.

NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.99. The firm had revenue of $6.25 billion during the quarter, compared to the consensus estimate of $6.58 billion. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. Sell-side analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Monday, June 2nd. NextEra Energy’s dividend payout ratio (DPR) is currently 84.64%.

About NextEra Energy

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.