Zimmermann Investment Management & Planning LLC Takes $377,000 Position in NextEra Energy, Inc. (NYSE:NEE)

Zimmermann Investment Management & Planning LLC acquired a new stake in NextEra Energy, Inc. (NYSE:NEE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,323 shares of the utilities provider’s stock, valued at approximately $377,000.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in NextEra Energy during the fourth quarter worth approximately $2,561,055,000. M&G Plc acquired a new position in NextEra Energy during the first quarter worth approximately $303,065,000. Zimmer Partners LP increased its position in NextEra Energy by 8,447.5% during the first quarter. Zimmer Partners LP now owns 2,735,200 shares of the utilities provider’s stock worth $174,807,000 after purchasing an additional 2,703,200 shares during the last quarter. State of Michigan Retirement System increased its position in NextEra Energy by 400.7% during the first quarter. State of Michigan Retirement System now owns 2,812,198 shares of the utilities provider’s stock worth $179,728,000 after purchasing an additional 2,250,500 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of NextEra Energy by 57.0% in the second quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock worth $421,831,000 after acquiring an additional 2,163,437 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NEE. Morgan Stanley increased their price objective on shares of NextEra Energy from $85.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Scotiabank increased their price objective on shares of NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. increased their price objective on shares of NextEra Energy from $91.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company reissued an “overweight” rating and issued a $95.00 price objective on shares of NextEra Energy in a research report on Wednesday, June 12th. Finally, Citigroup increased their price objective on shares of NextEra Energy from $69.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, NextEra Energy has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

NextEra Energy Stock Down 0.2 %

NYSE NEE traded down $0.19 during trading hours on Wednesday, reaching $79.42. 5,461,773 shares of the company traded hands, compared to its average volume of 11,126,026. NextEra Energy, Inc. has a 12 month low of $47.15 and a 12 month high of $81.07. 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 stock has a market capitalization of $163.17 billion, a PE ratio of 21.64, a PEG ratio of 2.84 and a beta of 0.54. The company has a 50 day moving average of $74.91 and a two-hundred day moving average of $69.17.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the prior year, the firm posted $0.88 EPS. As a group, equities analysts expect that NextEra Energy, Inc. will post 3.39 earnings per share for the current year.

NextEra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.59%. NextEra Energy’s payout ratio is currently 56.13%.

Insider Buying and Selling

In related news, EVP Nicole J. Daggs sold 658 shares of the 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 sale, the executive vice president now owns 100 shares of the company’s stock, valued at approximately $7,697. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

NextEra Energy Company 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.