Spring Capital Management LLC Increases Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Spring Capital Management LLC increased its position in NextEra Energy, Inc. (NYSE:NEE) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 73,175 shares of the utilities provider’s stock after acquiring an additional 6,634 shares during the period. NextEra Energy comprises approximately 3.5% of Spring Capital Management LLC’s holdings, making the stock its 16th largest position. Spring Capital Management LLC’s holdings in NextEra Energy were worth $4,445,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. United Bank raised its stake in NextEra Energy by 9.8% during the 1st quarter. United Bank now owns 9,966 shares of the utilities provider’s stock valued at $844,000 after buying an additional 891 shares during the last quarter. LSV Asset Management increased its stake in shares of NextEra Energy by 9.2% in the 1st quarter. LSV Asset Management now owns 32,180 shares of the utilities provider’s stock worth $2,726,000 after purchasing an additional 2,700 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of NextEra Energy by 11.2% in the 1st quarter. Brown Brothers Harriman & Co. now owns 15,731 shares of the utilities provider’s stock worth $1,333,000 after purchasing an additional 1,587 shares in the last quarter. Covestor Ltd boosted its holdings in NextEra Energy by 59.1% in the 1st quarter. Covestor Ltd now owns 878 shares of the utilities provider’s stock worth $74,000 after buying an additional 326 shares during the period. Finally, Ergoteles LLC bought a new position in NextEra Energy in the 1st quarter worth $793,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of NextEra Energy from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, November 29th. Royal Bank of Canada reissued an “outperform” rating and set a $74.00 price objective on shares of NextEra Energy in a report on Tuesday, January 30th. StockNews.com downgraded shares of NextEra Energy from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Guggenheim increased their price objective on shares of NextEra Energy from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Finally, BMO Capital Markets upped their target price on shares of NextEra Energy from $76.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $72.46.

NextEra Energy Stock Up 0.1 %

Shares of NYSE NEE opened at $63.86 on Thursday. The company’s 50-day simple moving average is $57.72 and its 200-day simple moving average is $58.58. NextEra Energy, Inc. has a 52-week low of $47.15 and a 52-week high of $79.78. The firm has a market cap of $131.07 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 2.18 and a beta of 0.50. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 1.06.

NextEra Energy (NYSE:NEE) last announced its earnings results on Thursday, January 25th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $5.72 billion. NextEra Energy had a net margin of 26.00% and a return on equity of 11.73%. During the same quarter last year, the business earned $0.51 earnings per share. Equities analysts predict that NextEra Energy, Inc. will post 3.44 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 3.23%. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, February 26th. NextEra Energy’s payout ratio is presently 57.06%.

NextEra Energy 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.