Grimes & Company Inc. Acquires 621 Shares of NextEra Energy, Inc. (NYSE:NEE)

Grimes & Company Inc. lifted its holdings in NextEra Energy, Inc. (NYSE:NEE) by 6.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,772 shares of the utilities provider’s stock after buying an additional 621 shares during the period. Grimes & Company Inc.’s holdings in NextEra Energy were worth $911,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NEE. Sycomore Asset Management raised its position in shares of NextEra Energy by 0.3% in the second quarter. Sycomore Asset Management now owns 47,341 shares of the utilities provider’s stock worth $3,473,000 after buying an additional 131 shares in the last quarter. BCK Partners Inc. increased its stake in NextEra Energy by 3.8% in the second quarter. BCK Partners Inc. now owns 3,687 shares of the utilities provider’s stock valued at $261,000 after acquiring an additional 135 shares during the last quarter. Zhang Financial LLC increased its stake in NextEra Energy by 3.0% in the third quarter. Zhang Financial LLC now owns 4,562 shares of the utilities provider’s stock valued at $386,000 after acquiring an additional 135 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in NextEra Energy by 1.9% in the third quarter. Foundations Investment Advisors LLC now owns 7,317 shares of the utilities provider’s stock valued at $619,000 after acquiring an additional 138 shares during the last quarter. Finally, Renasant Bank increased its stake in NextEra Energy by 1.0% in the first quarter. Renasant Bank now owns 14,614 shares of the utilities provider’s stock valued at $934,000 after acquiring an additional 142 shares during the last quarter. 78.72% of the stock is owned by institutional investors.

NextEra Energy Stock Performance

NextEra Energy stock opened at $82.82 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average of $82.19 and a 200-day moving average of $75.96. The firm has a market cap of $170.16 billion, a P/E ratio of 22.57, a P/E/G ratio of 2.92 and a beta of 0.56. NextEra Energy, Inc. has a 1-year low of $53.81 and a 1-year high of $86.10.

NextEra Energy (NYSE:NEE) last posted 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. The company had revenue of $7.57 billion during the quarter, compared to analyst estimates of $8.11 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. NextEra Energy’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 earnings per share. Sell-side analysts expect that NextEra Energy, Inc. will post 3.4 EPS for the current year.

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.49%. NextEra Energy’s dividend payout ratio is currently 56.13%.

Insider Transactions at NextEra Energy

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $76.97, for a total value of $50,646.26. Following the completion of the sale, the executive vice president now directly owns 100 shares in the company, valued at $7,697. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NEE shares. Jefferies Financial Group started coverage on NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 target price on the stock. BMO Capital Markets increased their target price on NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Guggenheim increased their target price on NextEra Energy from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America raised their price objective on NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their price objective on NextEra Energy from $91.00 to $94.00 and gave the company 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 given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $86.38.

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.