Renaissance Investment Group LLC Increases Stake in NextEra Energy, Inc. (NYSE:NEE)

Renaissance Investment Group LLC increased its holdings in NextEra Energy, Inc. (NYSE:NEE) by 12.0% in the third quarter, Holdings Channel.com reports. The firm owned 91,644 shares of the utilities provider’s stock after acquiring an additional 9,809 shares during the period. NextEra Energy makes up approximately 1.6% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 29th biggest position. Renaissance Investment Group LLC’s holdings in NextEra Energy were worth $7,747,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the business. Legal & General Group Plc boosted its stake in shares of NextEra Energy by 0.7% in the 2nd quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock valued at $1,508,155,000 after purchasing an additional 143,748 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in NextEra Energy by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,178,185 shares of the utilities provider’s stock valued at $579,097,000 after buying an additional 691,341 shares during the last quarter. Nordea Investment Management AB raised its holdings in NextEra Energy by 22.3% during the 1st quarter. Nordea Investment Management AB now owns 6,961,556 shares of the utilities provider’s stock valued at $443,834,000 after buying an additional 1,268,900 shares during the last quarter. Principal Financial Group Inc. raised its holdings in NextEra Energy by 7.2% during the 2nd quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider’s stock valued at $431,966,000 after buying an additional 409,708 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its holdings in NextEra Energy by 6.9% during the 2nd quarter. Bahl & Gaynor Inc. now owns 5,981,760 shares of the utilities provider’s stock valued at $423,568,000 after buying an additional 388,149 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Insider Activity at NextEra Energy

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 transaction of $50,646.26. Following the sale, the executive vice president now directly owns 100 shares of the company’s stock, valued at approximately $7,697. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NEE shares. Barclays upped their price target on shares of NextEra Energy from $76.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Bank of America upped their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. BMO Capital Markets upped their price target on shares of NextEra Energy from $79.00 to $83.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Dbs Bank lowered shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company upped their price objective on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $83.07.

NextEra Energy Stock Up 1.1 %

Shares of NextEra Energy stock opened at $81.86 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.49 and a quick ratio of 0.41. The company has a 50-day moving average of $81.17 and a 200 day moving average of $74.82. The firm has a market cap of $168.18 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 2.92 and a beta of 0.56. NextEra Energy, Inc. has a 1 year low of $50.95 and a 1 year high of $86.10.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $6.07 billion during the quarter, compared to analyst estimates of $7.29 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. During the same period last year, the business earned $0.88 EPS. As a group, sell-side analysts anticipate that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 2.52%. The ex-dividend date was Friday, August 30th. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

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.