Tuttle Capital Management LLC Acquires New Stake in NextEra Energy, Inc. (NYSE:NEE)

Tuttle Capital Management LLC bought a new position in NextEra Energy, Inc. (NYSE:NEE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,674 shares of the utilities provider’s stock, valued at approximately $263,000.

A number of other large investors have also recently added to or reduced their stakes in NEE. International Assets Investment Management LLC boosted its position in shares of NextEra Energy by 8,641.5% during the third quarter. International Assets Investment Management LLC now owns 3,861,208 shares of the utilities provider’s stock worth $326,388,000 after buying an additional 3,817,037 shares during the period. Assenagon Asset Management S.A. boosted its position in NextEra Energy by 4,058.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,366,795 shares of the utilities provider’s stock worth $200,065,000 after acquiring an additional 2,309,876 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of NextEra Energy by 20.9% during the 4th quarter. Nordea Investment Management AB now owns 8,833,725 shares of the utilities provider’s stock worth $634,703,000 after acquiring an additional 1,525,436 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of NextEra Energy by 167.7% in the third quarter. National Bank of Canada FI now owns 2,186,225 shares of the utilities provider’s stock valued at $184,795,000 after purchasing an additional 1,369,689 shares during the last quarter. Finally, Raymond James & Associates lifted its position in shares of NextEra Energy by 14.3% in the third quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock worth $575,573,000 after purchasing an additional 851,873 shares in the last quarter. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

NYSE NEE opened at $66.85 on Tuesday. The stock has a market cap of $137.47 billion, a PE ratio of 19.78, a P/E/G ratio of 2.66 and a beta of 0.58. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.33 and a current ratio of 0.41. The firm has a 50-day moving average of $74.00 and a 200-day moving average of $77.28. NextEra Energy, Inc. has a 52-week low of $53.95 and a 52-week high of $86.10.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.05. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The firm had revenue of $7.57 billion during the quarter, compared to the consensus estimate of $8.11 billion. During the same period last year, the business posted $0.94 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that NextEra Energy, Inc. will post 3.41 EPS for the current year.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 22nd were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Friday, November 22nd. NextEra Energy’s dividend payout ratio is 60.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Royal Bank of Canada cut shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Guggenheim upped their target price on NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Dbs Bank downgraded NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. Scotiabank upped their price objective on NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Finally, Jefferies Financial Group initiated coverage on shares of NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $87.15.

Insiders Place Their Bets

In related news, EVP Nicole J. Daggs sold 4,007 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total value of $302,808.99. Following the transaction, the executive vice president now directly owns 15,792 shares in the company, valued at approximately $1,193,401.44. This represents a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

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.