Geode Capital Management LLC Acquires 526,996 Shares of NextEra Energy, Inc. $NEE

Geode Capital Management LLC grew its holdings in NextEra Energy, Inc. (NYSE:NEE) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 45,724,229 shares of the utilities provider’s stock after purchasing an additional 526,996 shares during the period. Geode Capital Management LLC owned approximately 2.22% of NextEra Energy worth $3,161,774,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NEE. Activest Wealth Management lifted its holdings in shares of NextEra Energy by 79.7% in the second quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 157 shares during the last quarter. Harbor Asset Planning Inc. bought a new position in NextEra Energy in the 2nd quarter valued at approximately $25,000. 1 North Wealth Services LLC acquired a new stake in NextEra Energy in the first quarter valued at approximately $26,000. Quaker Wealth Management LLC grew its stake in shares of NextEra Energy by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 386 shares of the utilities provider’s stock worth $27,000 after buying an additional 772 shares during the last quarter. Finally, Nova Wealth Management Inc. acquired a new position in shares of NextEra Energy during the first quarter worth $32,000. 78.72% of the stock is currently owned by institutional investors.

Insider Activity at NextEra Energy

In related news, EVP Charles E. Sieving sold 11,336 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $80.00, for a total transaction of $906,880.00. Following the transaction, the executive vice president directly owned 167,481 shares of the company’s stock, valued at approximately $13,398,480. This represents a 6.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Dunne sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $70.79, for a total value of $707,900.00. Following the completion of the sale, the executive vice president directly owned 62,064 shares of the company’s stock, valued at $4,393,510.56. This trade represents a 13.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,028 shares of company stock valued at $1,738,973 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

NEE has been the subject of several research reports. New Street Research set a $84.00 target price on NextEra Energy in a research report on Monday, October 13th. Mizuho lifted their target price on shares of NextEra Energy from $78.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, October 27th. UBS Group restated a “buy” rating and issued a $96.00 price target (up from $84.00) on shares of NextEra Energy in a research report on Wednesday, October 29th. Melius assumed coverage on shares of NextEra Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $77.00 price target on the stock. Finally, Argus set a $90.00 price objective on NextEra Energy in a report on Wednesday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, NextEra Energy has an average rating of “Moderate Buy” and an average price target of $90.22.

NextEra Energy Price Performance

Shares of NYSE NEE opened at $85.81 on Wednesday. The company has a market capitalization of $178.71 billion, a PE ratio of 27.33, a P/E/G ratio of 2.76 and a beta of 0.69. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.30. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month high of $87.53. The firm has a fifty day simple moving average of $78.69 and a 200 day simple moving average of $74.32.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.09. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.The firm had revenue of $7.97 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same period last year, the company posted $1.03 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 21st will be paid a $0.5665 dividend. The ex-dividend date is Friday, November 21st. This represents a $2.27 annualized dividend and a dividend yield of 2.6%. NextEra Energy’s dividend payout ratio (DPR) is currently 71.97%.

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.